Accounting Firm Regulation 16
Abuse of Market Power 80
APES 320 16
ACNC Guidance NFPs 64
Agency Theory (& Agency Costs) 54
American Accounting Association Model 50
APES CODE OF ETHICS (APES 110)
Part 1 of the Code - Principles
Integrity (s111) 29
Objectivity (s112) 29
Professional Competence & Due Care (s113) 29
Confidentiality (s114) 30
Professional Behavior (s115) 30
PARTS 2 & 3 OF THE CODE: APPLYING THE CODE TO MEMBERS IN BUSINESS AND PUBLIC PRACTICE (p74)
Both Public & Business
Conflicts of Interest 33
Remuneration, Incentives, Fees, and other forms of payment 36
Inducement - Gifts & Hospitality 37
NOCLAR 39
Business Specific
Preparation & Presentation of Information 41
Reporting With Integrity 42
Acting with Sufficient Expertise 42
Pressure to Breach Fundamental Principles 42
Public Practice Specific 42
Professional Appointments 43
Second Opinions 43
Custody of Client Assets 43
Part 4 of the Code - Applying in context of audit, review and assurance engagements
Special Purpose Financial Statements 44
Audit & Review Engagements 44
Non-Assurance Services to Audit Client 45
Assurance Engagements 46
APES GN 40 Ethical Conflicts in the workplace (Ethical Decision Making Model) 49
Appointing Directors 69
Approval Procedures for Uncompetitive Behavior 82
,ASPC 5 Principles - Public Sector Governance 66
ASX Corporate Governance Principles & Recommendations
Principle 1 (p179) 63
Principle 2 (p180) 63
Principle 3 (p182) 63
Principle 4 (p182) 63
Principle 5 (p183) 63
Principle 6 (p184) 63
Principle 7 (p185) 63
Principle 8 (p185) 63
Additional Recommendations (p183) 63
Attributes of a profession 14
Audit Committee 56
Auditing the Financial Statements - Executive Remuneration 74
Auditors - Corporate Governance Framework 57
B- Corporations 100
Board of Directors 55
Board Chair 55
Board Functions & Responsibilities 56
Board powers 53
Bribery & Corruption 86
Cartel Conduct (Horizontal)
Output Restrictions 81
Market Sharing 81
Bid-Rigging 81
Price Fixing 81
CEO Powers 53
Churning 86
Civil Penalties 77
CLERP ACT 2004 58
Climate Change Reporting 114
Company Secretaries and their duties 53
Competition and Stakeholders 79
Compliance requirements for companies listed on page 118 51
Compliance with Corporations Act - Executive Remuneration 73
Conformity with Standards 16
,Consumer Protection 82
Corporate Governance - Commonsense Principles 89
Corporate Social Responsibility 96
Credibility of the profession 20
Criminal Penalties 77
CSR Mandatory Reporting
Corporations Act & IAS 102
CSR-RELATED CORPORATE GOVERNANCE DISCLOSURES (Recommendation 7.4): 102
NATIONAL GREENHOUSE AND ENERGY REPORTING ACT (NGER Act 2007) 103
EMISSIONS REDUCTION FUND AND CLIMATE SOLUTIONS FUND 103
MODERN SLAVERY ACT 2018: 103
NATIONAL POLLUTANT INVENTORY (page 335): 104
ISSUES OF DISCLOSURE FOR AUSTRALIAN MANDATORY REPORTING REQUIREMENTS: 104
EUROPEAN UNION EMISSIONS TRADING SCHEME (EU ETS) 104
CSR Non-Mandatory Reporting 105
GLOBAL REPORTING INITIATIVE (GRI): 107
INTEGRATED REPORTING: 108
NATURAL CAPITAL PROTOCOL: 109
OECD GUIDELINES FOR MULTINATIONAL ENTERPRISES: 109
CDP AND THE CLIMATE DISCLOSURE STANDARDS BOARD: 109
UNITED NATIONS GLOBAL COMPACT: 109
EQUATOR PRINCIPLES (p344): 110
GREENHOUSE GAS PROTOCOL (GHG Protocol) & All Standards (p345): 110
SUSTAINABILITY ACCOUNTING STANDARDS BOARD (SASB): 111
DOW JONES SUSTAINABILITY INDICES (DJSI): 111
CSR THEORIES SUMMARY 98
Deontological Theories (Duty Based) 27
Rights Theory 27
Legal & Contractual Rights 27
Human Rights 27
Justice 27
Director Departure 70
Director Disqualification 71
Director Election 69
Staggered 69
De-staggered 69
,Director Removal 70
Directors & Shareholders 51
Directors Duties 51
Duty to avoid conflicts of interest 51
Duty to act in good faith in the corporations best interest 51
Duty to exercise powers for proper purpose 51
Duty to retain discretionary powers 52
Duty to Act with Care and Diligence 52
Business Judgement Rule 52
Duty to remain informed about company operations 52
Duty to prevent insolvent trading 52
Safe Harbor Provision 52
Director Independence 53
Dr. Kidder - Four Types of Ethical Dilemmas 23
Economic Sustainability 99
Economic Sustainability - REPORTING 101
Employee Entitlements (p242-246) 78
Enlightened Self-interest 13
Enlightened Self-interest - CSR RELATED 97
Entrepreneurialism and professionalism 13
Environmental Management Accounting 113
Environmental Sustainability 99
Environmental Sustainability - REPORTING 101
Ethical Challenges within the Accounting Profession 23
Exclusive Dealing 81
Externalities 96
Factors Influencing Decision Making
Individual Factors 48
Organizational Factors 48
Professional Factors 48
Social Factors 49
Culture 49
Family Owned Business & SME's 63
Family-Controlled Companies & Business Networks 61
Fels - why have compliance programs 78
Financial Advice Environment 20
,Financial Reporting & It's Limitations
Scope of Reporting 91
Elements of financial reporting 91
Discounting future cash flows 91
Relevance & faithful representation 92
The Entity Assumption 92
Global Financial Crisis 92
Governance related Legislation 77
Hamilton Categories for Corporate Failure 68
Impact Investment 94
Impact of Ethical or Unethical Decisions 22
Incentives to tackly sustainability issues
Risk Management Incentives 93
CSR Cost of capital benefits 93
Improved Analysts Forecasts 94
Improved General perception of company 94
Independence of the Chair of the Board 76
Insider Trading 85
Institutional Theory 98
DiMaggio & Powell 3 Criteria 98
INTEGRATED REPORTING: 108
International Competition Legislation 80
ISO 1400 & ISO 2600 112
KPMG Causes of Corporate Failure 68
Legitimacy Theory 98
Lindblom Suggestions 98
Market Based Systems 59
Market Control View 14
Market Manipulation - Principles 85
Mergers and Acquisitons 81
Misuse of Fundraising Documents (IPOs) 86
Module 1 13
Nomination Committee 56
Non-corporate Sector Governance Issues 76
Normative Theories 25
Ethics of Conduct 25
,Not for profit 20
OECD Principles of Corporate Governance (G20 Principles)
Principle 1 (p171) 61
Principle 2 (p172) 61
Principle 3 (p173) 62
Principle 4 (p174) 62
Principle 5 (p174) 62
Principle 6 (175) 62
PAIB - Private or Business Sector Environment 18
PAIB in SME's 18
The PAIB Committee 19
Perceived Corporate Responsibilities & Accountability 96
s181(1) of the Corporations Act 96
s172 of the UK Companies Act 2006 96
Philosophical Model of Ethical Decision Making 49
Phoenix Companies 87
Ponzi Schemes 87
Pools 86
Poor Risk Management - Corporate Failure 69
Practice Reviews 16
Public Practice 17
Public Sector Environment 19
Public Sector Governance 65
Harris Recommendation 65
Uhris Notes 65
Characteristics of public 66
Guidance for public sector governance 66
Puffery 82
Regulation of Member Conduct 16
Clause 39-43 in the Consitution of CPA Australia 16
Regulators - Corporate Governance Framework 57
Principle Regulation 57
Rule-based regulation 57
Regulatory Bodies of Accounting 15
Relationship - Based Systems 59
Germany 59
, France 60
Japan 60
India 61
Remuneration - Corporate Failure 68
Remuneration - Executives 72
Non-executive Remuneration 72
Executive Directors & Seniors 72
Performance based remuneration 72
Remuneration Committee 56
Representational Role of Institutional Investors (IIC) 89
Resale Price Maintenance (Vertical) 82
Responsible Investment 94
Reviews of Audit Quality & Audit Regulation 74
Risk Management Committee 57
Risk Management - Improving Corporate Governance 75
Internal Control 75
Rogue Trading 87
Role of Information & Media in the Market 84
Role of Market Regulators 84
Runs 86
Shareholder Representation & Power 88
Significance of non-corporate sector 67
Social Audits 112
Social Enterprise 94
Social Sustainability 99
Social Sustainability - REPORTING 101
SSKE - Soft Skills, Knoweldge & Experience 21
Stakeholder Theory - CSR RELATED 97
Normative Stakeholder Theory 97
Managerial Stakeholder Theory 97
Standard Setting 16
Stewardship Tehory 54
Sustainable Investment 94
Teleological Theories (Consequential) 25
Egoism 25
Utilitarianism 26
, 5 Step Process 26
4 Main Limitations 26
The Changing Reporting Landscape 92
The Public Interest 28
IFAC Responsibilities 28
Thematic Investment 94
THREATS - ADDRESSING 32
THREATS - EVALUATING 32
THREATS - IDENTIFYING 31
Traditional View 14
TSKE - Technical Skills, Knoweldge & Experience 21
Two-Strikes Rule 71
UK Financial Reporting Council 62
Unconscionable Conduct (Unfair Contracts) 83
Victorian Public Sector Commission key Parties 66
Virtue Ethics 28
Moral Agency 28
What is a profession 14
Whistleblower Protection
SOX Act 90
Australian Whistleblower Protection 90
Willful Blindness - Corporate Failure 69
,1 Mohamed Abu Hussein
Table of Contents
Module 1: .................................................................................................................................................... 13
Module 1 Part A: ..................................................................................................................................... 13
Part A (i) Professionals : ..................................................................................................................... 13
Study Guide: ................................................................................................................................... 13
1.2 Enlightened self-interest: (p6) ..................................................................................................... 13
1.3 Entrepreneurialism and professionalism (p6): ............................................................................ 13
1.4 What is a profession (p8): ............................................................................................................ 14
1.6 Traditional view vs Market Control View (p11): ......................................................................... 14
1.8 Attributes of a profession (p12)................................................................................................... 14
Module 1 (ii) - Regulation & Judgement: .............................................................................................. 15
1.9 Professions Regulatory Process (p18): ........................................................................................ 15
- Standard Setting ..................................................................................................................... 16
- Conformity with Standards .................................................................................................... 16
- Practice reviews...................................................................................................................... 16
- Accounting Firm Regulation: .................................................................................................. 16
o APES 320 ............................................................................................................................. 16
Regulation of Member Conduct: ................................................................................................... 16
Clause 39-43 in the Constitution of CPA Australia .................................................................... 16
Module 1 (iii) Social Impact (Different work environments, PAIBS etc): ............................................. 17
1.10 ACCOUNTING ROLES, ACTIVITIES AND RELATIONSHIPS (P24).................................................. 17
Public Practice: ............................................................................................................................... 17
Private or Business Sector Environment (PAIB): ........................................................................... 18
PAIB in SME’s .............................................................................................................................. 18
The PAIB committee:.................................................................................................................. 19
Public Sector Environment: ............................................................................................................ 19
Financial Advice Environment: ...................................................................................................... 20
Not for Profit: ................................................................................................................................. 20
Module 1 (iv) Challenges to The Profession: ......................................................................................... 20
1.12 Credibility of the profession (p34): ............................................................................................ 20
Restoring credibility to accounting: ............................................................................................... 21
1.13 Capability Considerations (p37): ................................................................................................ 21
1
, 2 Mohamed Abu Hussein
Technical Skills (TSKE): ................................................................................................................... 21
Soft Skills, Knowledge & Experience (SSKE) .................................................................................. 21
Module 2: .................................................................................................................................................... 22
Module 2 (i) - Overview of Ethical Theories: ........................................................................................... 22
2.1 - Impact of Ethical or Unethical Decisions (p43): ........................................................................ 22
2.2 - Ethics – An Overview (p44): ....................................................................................................... 22
Dr Kidder - four types of ethical dilemmas: .................................................................................. 23
2.3 - Ethical Challenges Within the Accounting Profession (p46): ................................................ 23
2.5 - Normative Theories (p51): ......................................................................................................... 25
Ethics of character (Virtue ethics):................................................................................................. 25
Ethics of conduct ............................................................................................................................ 25
Module 2 (ii) - Teleological Theories: .................................................................................................... 25
2.6 Teleological (Consequential Theories) (p52): .............................................................................. 25
Egoism:............................................................................................................................................ 25
Utilitarianism: ................................................................................................................................. 26
Utilitarianism - 5 step process: .................................................................................................. 26
Utilitarianism - 4 main limitations: ............................................................................................ 26
Module 2 (iii) - Deontological Theories: .................................................................................................. 27
2.7 Deontological Theories (Duty Based) (p56):
.................................................................................. 27
Rights Theory: ................................................................................................................................. 27
Legal and contractual rights: ...................................................................................................... 27
Human Rights: ............................................................................................................................ 27
Justice: ........................................................................................................................................ 27
2.8 Virtue Ethics (p58): ........................................................................................................................ 27
Moral Agency.................................................................................................................................. 28
Module 2 (iv) - APES 110 Code of Ethics: ................................................................................................ 28
2.9 The Public Interest ʹEthics in Practice (p61) (IFAC Responsibilities): ........................................... 28
2.10 THE APESB CODE OF ETHICS (APES 110) (P62): ........................................................................... 28
Part 1 of the code ʹFundamental Principles and Conceptual Framework (ss110-115):................. 29
1) Integrity (s111) ........................................................................................................................ 29
2) Objectivity (s112) .................................................................................................................... 29
3) Professional Competence & Due Care (s113) ......................................................................... 29
4) Confidentiality (s114): ............................................................................................................. 30
2
Abuse of Market Power 80
APES 320 16
ACNC Guidance NFPs 64
Agency Theory (& Agency Costs) 54
American Accounting Association Model 50
APES CODE OF ETHICS (APES 110)
Part 1 of the Code - Principles
Integrity (s111) 29
Objectivity (s112) 29
Professional Competence & Due Care (s113) 29
Confidentiality (s114) 30
Professional Behavior (s115) 30
PARTS 2 & 3 OF THE CODE: APPLYING THE CODE TO MEMBERS IN BUSINESS AND PUBLIC PRACTICE (p74)
Both Public & Business
Conflicts of Interest 33
Remuneration, Incentives, Fees, and other forms of payment 36
Inducement - Gifts & Hospitality 37
NOCLAR 39
Business Specific
Preparation & Presentation of Information 41
Reporting With Integrity 42
Acting with Sufficient Expertise 42
Pressure to Breach Fundamental Principles 42
Public Practice Specific 42
Professional Appointments 43
Second Opinions 43
Custody of Client Assets 43
Part 4 of the Code - Applying in context of audit, review and assurance engagements
Special Purpose Financial Statements 44
Audit & Review Engagements 44
Non-Assurance Services to Audit Client 45
Assurance Engagements 46
APES GN 40 Ethical Conflicts in the workplace (Ethical Decision Making Model) 49
Appointing Directors 69
Approval Procedures for Uncompetitive Behavior 82
,ASPC 5 Principles - Public Sector Governance 66
ASX Corporate Governance Principles & Recommendations
Principle 1 (p179) 63
Principle 2 (p180) 63
Principle 3 (p182) 63
Principle 4 (p182) 63
Principle 5 (p183) 63
Principle 6 (p184) 63
Principle 7 (p185) 63
Principle 8 (p185) 63
Additional Recommendations (p183) 63
Attributes of a profession 14
Audit Committee 56
Auditing the Financial Statements - Executive Remuneration 74
Auditors - Corporate Governance Framework 57
B- Corporations 100
Board of Directors 55
Board Chair 55
Board Functions & Responsibilities 56
Board powers 53
Bribery & Corruption 86
Cartel Conduct (Horizontal)
Output Restrictions 81
Market Sharing 81
Bid-Rigging 81
Price Fixing 81
CEO Powers 53
Churning 86
Civil Penalties 77
CLERP ACT 2004 58
Climate Change Reporting 114
Company Secretaries and their duties 53
Competition and Stakeholders 79
Compliance requirements for companies listed on page 118 51
Compliance with Corporations Act - Executive Remuneration 73
Conformity with Standards 16
,Consumer Protection 82
Corporate Governance - Commonsense Principles 89
Corporate Social Responsibility 96
Credibility of the profession 20
Criminal Penalties 77
CSR Mandatory Reporting
Corporations Act & IAS 102
CSR-RELATED CORPORATE GOVERNANCE DISCLOSURES (Recommendation 7.4): 102
NATIONAL GREENHOUSE AND ENERGY REPORTING ACT (NGER Act 2007) 103
EMISSIONS REDUCTION FUND AND CLIMATE SOLUTIONS FUND 103
MODERN SLAVERY ACT 2018: 103
NATIONAL POLLUTANT INVENTORY (page 335): 104
ISSUES OF DISCLOSURE FOR AUSTRALIAN MANDATORY REPORTING REQUIREMENTS: 104
EUROPEAN UNION EMISSIONS TRADING SCHEME (EU ETS) 104
CSR Non-Mandatory Reporting 105
GLOBAL REPORTING INITIATIVE (GRI): 107
INTEGRATED REPORTING: 108
NATURAL CAPITAL PROTOCOL: 109
OECD GUIDELINES FOR MULTINATIONAL ENTERPRISES: 109
CDP AND THE CLIMATE DISCLOSURE STANDARDS BOARD: 109
UNITED NATIONS GLOBAL COMPACT: 109
EQUATOR PRINCIPLES (p344): 110
GREENHOUSE GAS PROTOCOL (GHG Protocol) & All Standards (p345): 110
SUSTAINABILITY ACCOUNTING STANDARDS BOARD (SASB): 111
DOW JONES SUSTAINABILITY INDICES (DJSI): 111
CSR THEORIES SUMMARY 98
Deontological Theories (Duty Based) 27
Rights Theory 27
Legal & Contractual Rights 27
Human Rights 27
Justice 27
Director Departure 70
Director Disqualification 71
Director Election 69
Staggered 69
De-staggered 69
,Director Removal 70
Directors & Shareholders 51
Directors Duties 51
Duty to avoid conflicts of interest 51
Duty to act in good faith in the corporations best interest 51
Duty to exercise powers for proper purpose 51
Duty to retain discretionary powers 52
Duty to Act with Care and Diligence 52
Business Judgement Rule 52
Duty to remain informed about company operations 52
Duty to prevent insolvent trading 52
Safe Harbor Provision 52
Director Independence 53
Dr. Kidder - Four Types of Ethical Dilemmas 23
Economic Sustainability 99
Economic Sustainability - REPORTING 101
Employee Entitlements (p242-246) 78
Enlightened Self-interest 13
Enlightened Self-interest - CSR RELATED 97
Entrepreneurialism and professionalism 13
Environmental Management Accounting 113
Environmental Sustainability 99
Environmental Sustainability - REPORTING 101
Ethical Challenges within the Accounting Profession 23
Exclusive Dealing 81
Externalities 96
Factors Influencing Decision Making
Individual Factors 48
Organizational Factors 48
Professional Factors 48
Social Factors 49
Culture 49
Family Owned Business & SME's 63
Family-Controlled Companies & Business Networks 61
Fels - why have compliance programs 78
Financial Advice Environment 20
,Financial Reporting & It's Limitations
Scope of Reporting 91
Elements of financial reporting 91
Discounting future cash flows 91
Relevance & faithful representation 92
The Entity Assumption 92
Global Financial Crisis 92
Governance related Legislation 77
Hamilton Categories for Corporate Failure 68
Impact Investment 94
Impact of Ethical or Unethical Decisions 22
Incentives to tackly sustainability issues
Risk Management Incentives 93
CSR Cost of capital benefits 93
Improved Analysts Forecasts 94
Improved General perception of company 94
Independence of the Chair of the Board 76
Insider Trading 85
Institutional Theory 98
DiMaggio & Powell 3 Criteria 98
INTEGRATED REPORTING: 108
International Competition Legislation 80
ISO 1400 & ISO 2600 112
KPMG Causes of Corporate Failure 68
Legitimacy Theory 98
Lindblom Suggestions 98
Market Based Systems 59
Market Control View 14
Market Manipulation - Principles 85
Mergers and Acquisitons 81
Misuse of Fundraising Documents (IPOs) 86
Module 1 13
Nomination Committee 56
Non-corporate Sector Governance Issues 76
Normative Theories 25
Ethics of Conduct 25
,Not for profit 20
OECD Principles of Corporate Governance (G20 Principles)
Principle 1 (p171) 61
Principle 2 (p172) 61
Principle 3 (p173) 62
Principle 4 (p174) 62
Principle 5 (p174) 62
Principle 6 (175) 62
PAIB - Private or Business Sector Environment 18
PAIB in SME's 18
The PAIB Committee 19
Perceived Corporate Responsibilities & Accountability 96
s181(1) of the Corporations Act 96
s172 of the UK Companies Act 2006 96
Philosophical Model of Ethical Decision Making 49
Phoenix Companies 87
Ponzi Schemes 87
Pools 86
Poor Risk Management - Corporate Failure 69
Practice Reviews 16
Public Practice 17
Public Sector Environment 19
Public Sector Governance 65
Harris Recommendation 65
Uhris Notes 65
Characteristics of public 66
Guidance for public sector governance 66
Puffery 82
Regulation of Member Conduct 16
Clause 39-43 in the Consitution of CPA Australia 16
Regulators - Corporate Governance Framework 57
Principle Regulation 57
Rule-based regulation 57
Regulatory Bodies of Accounting 15
Relationship - Based Systems 59
Germany 59
, France 60
Japan 60
India 61
Remuneration - Corporate Failure 68
Remuneration - Executives 72
Non-executive Remuneration 72
Executive Directors & Seniors 72
Performance based remuneration 72
Remuneration Committee 56
Representational Role of Institutional Investors (IIC) 89
Resale Price Maintenance (Vertical) 82
Responsible Investment 94
Reviews of Audit Quality & Audit Regulation 74
Risk Management Committee 57
Risk Management - Improving Corporate Governance 75
Internal Control 75
Rogue Trading 87
Role of Information & Media in the Market 84
Role of Market Regulators 84
Runs 86
Shareholder Representation & Power 88
Significance of non-corporate sector 67
Social Audits 112
Social Enterprise 94
Social Sustainability 99
Social Sustainability - REPORTING 101
SSKE - Soft Skills, Knoweldge & Experience 21
Stakeholder Theory - CSR RELATED 97
Normative Stakeholder Theory 97
Managerial Stakeholder Theory 97
Standard Setting 16
Stewardship Tehory 54
Sustainable Investment 94
Teleological Theories (Consequential) 25
Egoism 25
Utilitarianism 26
, 5 Step Process 26
4 Main Limitations 26
The Changing Reporting Landscape 92
The Public Interest 28
IFAC Responsibilities 28
Thematic Investment 94
THREATS - ADDRESSING 32
THREATS - EVALUATING 32
THREATS - IDENTIFYING 31
Traditional View 14
TSKE - Technical Skills, Knoweldge & Experience 21
Two-Strikes Rule 71
UK Financial Reporting Council 62
Unconscionable Conduct (Unfair Contracts) 83
Victorian Public Sector Commission key Parties 66
Virtue Ethics 28
Moral Agency 28
What is a profession 14
Whistleblower Protection
SOX Act 90
Australian Whistleblower Protection 90
Willful Blindness - Corporate Failure 69
,1 Mohamed Abu Hussein
Table of Contents
Module 1: .................................................................................................................................................... 13
Module 1 Part A: ..................................................................................................................................... 13
Part A (i) Professionals : ..................................................................................................................... 13
Study Guide: ................................................................................................................................... 13
1.2 Enlightened self-interest: (p6) ..................................................................................................... 13
1.3 Entrepreneurialism and professionalism (p6): ............................................................................ 13
1.4 What is a profession (p8): ............................................................................................................ 14
1.6 Traditional view vs Market Control View (p11): ......................................................................... 14
1.8 Attributes of a profession (p12)................................................................................................... 14
Module 1 (ii) - Regulation & Judgement: .............................................................................................. 15
1.9 Professions Regulatory Process (p18): ........................................................................................ 15
- Standard Setting ..................................................................................................................... 16
- Conformity with Standards .................................................................................................... 16
- Practice reviews...................................................................................................................... 16
- Accounting Firm Regulation: .................................................................................................. 16
o APES 320 ............................................................................................................................. 16
Regulation of Member Conduct: ................................................................................................... 16
Clause 39-43 in the Constitution of CPA Australia .................................................................... 16
Module 1 (iii) Social Impact (Different work environments, PAIBS etc): ............................................. 17
1.10 ACCOUNTING ROLES, ACTIVITIES AND RELATIONSHIPS (P24).................................................. 17
Public Practice: ............................................................................................................................... 17
Private or Business Sector Environment (PAIB): ........................................................................... 18
PAIB in SME’s .............................................................................................................................. 18
The PAIB committee:.................................................................................................................. 19
Public Sector Environment: ............................................................................................................ 19
Financial Advice Environment: ...................................................................................................... 20
Not for Profit: ................................................................................................................................. 20
Module 1 (iv) Challenges to The Profession: ......................................................................................... 20
1.12 Credibility of the profession (p34): ............................................................................................ 20
Restoring credibility to accounting: ............................................................................................... 21
1.13 Capability Considerations (p37): ................................................................................................ 21
1
, 2 Mohamed Abu Hussein
Technical Skills (TSKE): ................................................................................................................... 21
Soft Skills, Knowledge & Experience (SSKE) .................................................................................. 21
Module 2: .................................................................................................................................................... 22
Module 2 (i) - Overview of Ethical Theories: ........................................................................................... 22
2.1 - Impact of Ethical or Unethical Decisions (p43): ........................................................................ 22
2.2 - Ethics – An Overview (p44): ....................................................................................................... 22
Dr Kidder - four types of ethical dilemmas: .................................................................................. 23
2.3 - Ethical Challenges Within the Accounting Profession (p46): ................................................ 23
2.5 - Normative Theories (p51): ......................................................................................................... 25
Ethics of character (Virtue ethics):................................................................................................. 25
Ethics of conduct ............................................................................................................................ 25
Module 2 (ii) - Teleological Theories: .................................................................................................... 25
2.6 Teleological (Consequential Theories) (p52): .............................................................................. 25
Egoism:............................................................................................................................................ 25
Utilitarianism: ................................................................................................................................. 26
Utilitarianism - 5 step process: .................................................................................................. 26
Utilitarianism - 4 main limitations: ............................................................................................ 26
Module 2 (iii) - Deontological Theories: .................................................................................................. 27
2.7 Deontological Theories (Duty Based) (p56):
.................................................................................. 27
Rights Theory: ................................................................................................................................. 27
Legal and contractual rights: ...................................................................................................... 27
Human Rights: ............................................................................................................................ 27
Justice: ........................................................................................................................................ 27
2.8 Virtue Ethics (p58): ........................................................................................................................ 27
Moral Agency.................................................................................................................................. 28
Module 2 (iv) - APES 110 Code of Ethics: ................................................................................................ 28
2.9 The Public Interest ʹEthics in Practice (p61) (IFAC Responsibilities): ........................................... 28
2.10 THE APESB CODE OF ETHICS (APES 110) (P62): ........................................................................... 28
Part 1 of the code ʹFundamental Principles and Conceptual Framework (ss110-115):................. 29
1) Integrity (s111) ........................................................................................................................ 29
2) Objectivity (s112) .................................................................................................................... 29
3) Professional Competence & Due Care (s113) ......................................................................... 29
4) Confidentiality (s114): ............................................................................................................. 30
2
