Code of Ethics
A member of this Society:
- shall not violate the confidential relationship between himself and his clients or former clients.
- shall not offer or render a professional service for a contingent fee during any period where the professional service consists of an audit, review or compilation engagement, including the period of time covered by any historical financial statements involved while performing an audit, review or compilation engagement; further, a member shall not offer to accept or accept a contingent fee for the preparation of original or amended tax returns or claims for tax refunds.
- or a firm of which he/she is a partner or shareholder shall not express an opinion on financial statements of an enterprise unless he/she and his/her firm are independent of such enterprise; Accordingly, a member shall not express an opinion on financial statements of an enterprise financed in whole, or in part, by public distribution of securities or on financial statements for use as a basis of credit if he/she or a member of his/her immediate family owns or is committed to acquire a substantial financial interest in the enterprise, or during the period covered by the examination he/she has been a director, officer or employee of the enterprise unless such interest or relationship is disclosed in the report.
- shall not allow any person to practice in his/her corporate, partnership or individual name who is not a partner, professional corporation co-shareholder or in his/her employ.
- who is engaged in the practice of public accounting shall not concurrently engage in any business or occupation which would create a conflict of interest in rendering professional services.
- shall not sign a report purporting to express his/her opinion as the result of an examination of financial statements, unless they have been examined by him/her or by a member or employee of his/her firm.
- shall be diligent, thorough and completely candid in expressing an opinion on representations in financial statements which he/she has examined.
- shall not permit his/her name to be used in conjunction with any special purpose statement prepared for his/her clients that anticipates results of future operations, unless he/she discloses the source of information used and what assumptions he/she has made, and unless he/she indicates he/she does not vouch for the accuracy of the forecast.
- shall not accept a commission from any person or client for whom the member offers or renders concurrently a professional service, where the professional service consists of an audit or review engagement (including the period of time covered by any historical financial engagements involved while performing an audit or review engagement), nor accept a commission where the member performs a compilation of a financial statement when the member expects or reasonably might expect that a third party will use the financial statement and the member's compilation report or transmittal does not disclose a lack of independence.
- shall not seek to obtain clients by advertising or other forms of solicitation in a manner that is false, misleading or deceptive.
- in practice as an individual shall not use a firm name or plural term as "and company" or "and associates" or other designation indicating anything other than individual ownership.
- who receives an engagement for services by referral from another accountant shall not discuss or accept an extension of his/her services beyond the specific engagement without first consulting with the referring accountant.