Scientific journal
Научное обозрение. Экономические науки
ISSN 2500-3410
ПИ №ФС77-57503

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REVIEW OF SELECTED PROVISIONS OF CODE OF ETHICS FOR ACCOUNTANTS AND AUDITORS

Danilova S.V. 1
1 Economic and Law Institute of Nizhnevartovsk (a branch) of Tyumen State University
The article represents the author’s opinion on certain provisions of The Code of Ethics for Professional Accountants and Auditors. In order to justify the author’s approach in the beginning of the article there is described how social ethics and morals norms merged into business activities, and their negative effects. The basic principles of the Code are compared with norms of ethics and morals of common business intercourse, including those of Russian business culture. In the article there are described main reasons of risks in accountants’ and auditors’ activity, provided a structure of basic patterns to avoid and mitigate the risks of accountants’ and auditors’ professional activity. The research has been conducted on the basis of Codes of Ethics for Professional Accountants and Auditors that were approved by Institute of Professional Accountants of Russia and Chamber of Professional Accountants and Auditors, a Non-Commercial Partnership. In the conclusion of the article the author identifies that The Code of Ethics for Professional Accountants and Auditors is an internal document for members of professional accountants and auditors unions and has no any significant legal status.