Assessment - Report Due date: 09 -Sep-2013 Length: 1500 words Task You are required to research APES110 The Code of Ethics for Professional Accountants. After researching APES110 prepare a report that...

APES110
Running Head: APES110 – The Code of Ethics for Professional Accountants 1
APES110
The Code of Ethics for Professional Accountants
[Type the author name]
13-Sep-13
The Code of Ethics for Professional Accountants 2
Executive Summary
The paper analyzed APES110 and the relationship between the professional accountants
and the code of ethics. The paper also applies APES110 code to marketing professional to build
a relationship between different professions. Marketing ethics are a subset of business ethics.
Ethics in marketing a product are primarily related to pricing, promoting, and communicating a
product. Most multinational companies comprise of four organization levels namely, the
corporate level, the division level, the business level and the product level. An accountant needs
to be weary of the Audit risk that he is facing while dealing the financials of his organization.
Audit risk is the probability of inco
ect reporting of the financial statements of a company. It
indicates the willingness of an accountant of the company towards accepting that financial
statements may be misstated bearing a material impact of the company. There are many
principles common to the profession of marketing ethics as well as accounting ethics. Both have
an endeavor to act towards the benefit of the company, yet maintaining the ethics of the job as
well as social responsibility of the society and the stakeholders.
The Code of Ethics for Professional Accountants 3
Table of Contents
Executive Summary ........................................................................................................................ 1
Introduction ..................................................................................................................................... 4
Analysis........................................................................................................................................... 4
Conclusion ...................................................................................................................................... 9
References ..................................................................................................................................... 10
The Code of Ethics for Professional Accountants 4
Introduction
The paper analyzes APES110 and the relationship between the professional accountants
and the code of ethics. The paper also applies APES110 code to marketing professional to build
a relationship between different professions. A highly distinguishing mark towards the
accountancy profession is considered as its acceptance of the responsibility towards acting within
the public interest (APES 110 Code of Ethics for Professional Accountants, 2010). Therefore, the
Member‘s responsibility cannot be considered exclusively towards satisfying the needs of the
individual client as well as the employer. In acting within the interest of the public, a Member
should always observe as well as comply with this Code. If the Member is prohibited from the
compliance of the certain parts of APES110 Code by any law or regulation, the Member needs to
comply with all of the other parts of this Code.
Analysis
Background Information
This APES 110 Code is primarily divided into three parts. Part A of this code acts
towards establishing the fundamental principles of the professional ethics for the Members as
well as provides the conceptual framework that these Members should apply to:
(a) Identifying threats towards compliance within each of the fundamental principles;
(b) Evaluating the significance of these threats identified; and
The Code of Ethics for Professional Accountants 5
(c) Applying safeguards, whenever necessary, for eliminating the threats along with reducing
them towards an Acceptable Level (APES 110 Code of Ethics for Professional Accountants,
2010).
Parts...