APES 110 Code of Ethics for Professional Accountants (including Independence Standards) (the Code) is based on the International Code of Ethics for Professional Accountants (Including International Independence Standards) issued by the International Ethics Standards Board for Accountants (IESBA).
The professional obligations and ethical requirements imposed on members of the accounting profession are based on the five fundamental principles of integrity, objectivity, professional competence and due care, confidentiality and professional behaviour in the Code.
The Code consists of Part 1 (applicable to all members), Part 2 (applicable to members in business) and Part 3 (applicable to members in public practice). APES 110 also includes the auditor independence requirements applicable to members in public practice who perform audits and reviews of financial statements (Part 4A) or perform other assurance engagements (Part 4B).
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