Ethics

The By-Laws on Professional Ethics is substantially based on the Code of Ethics for Professional Accountants issued by the International Federation of Accountants (IFAC). Ethics is about principles, values and beliefs which influence, judgement and behaviour. It goes beyond obeying laws, rules and regulations - it is about doing the right thing in the circumstance. The existence of trust is essential to business and society. A distinguishing mark of the accountancy profession is its acceptance of the responsibility to act in public interest. Therefore, a professional accountants responsibility is not exclusively to satisfy the needs of an individual client or employer. In acting in the public interest, a professional accountant should observe and comply with the ethical requirement of the By-Laws that have been framed with the objective that members exhibit the highest standards of professionalism and professional conduct that are expected of the profession. To ensure that the By-Laws are relevant and meets the needs of both the profession and the stakeholders involved, the council amends the By-Laws from time to time. As such, members are required to familiarise themselves with the By-Laws as may be amended from time to time and updated onto website for members to comply with the By-Laws. BY-LAWS (ON PROFESSIONAL ETHICS, CONDUCT AND PRACTICE) OF THE MALAYSIAN INSTITUTE OF ACCOUNTANTS PREFACE The Revised By-Laws (On Professional Ethics, Conduct and Practice) of the Malaysian Institute of Accountants are issued by the Council of the Malaysian Institute of Accountants come into effect on 1 January 2011 unless otherwise stated herein. The Revised By-Laws (On Professional Ethics, Conduct and Practice) of the Malaysian Institute of Accountants are issued pursuant to section 10(a) of the Accountants Act 1967 and is binding on all members of the Malaysian Institute of Accountants. The Revised By-Laws (On Professional Ethics, Conduct and Practice) of the Malaysian Institute of Accountants (collectively referred to as the By-Laws or singularly referred to by the relevant By-Laws as set out herein), is the copyright of the Malaysian Institute of Accountants, save for the By-Laws on Professional Ethics which is substantially based on Code of Ethics for Professional Accountants of the International Ethics Standards Board of Accountants (IESBA),published by the International Federation of Accountants (IFAC) in April 2010 and is used with permission of IFAC. The reproduction of the text in the By-Laws on Professional Ethics herein has been consented to by IFAC strictly on the basis that the user is not allowed to translate, reprint or reproduce or utilise in any form either in whole or in part or by any electronic, mechanical or other means, now known or hereafter invented, including photocopying and recording, or on any information storage or retrieval system, the same without prior permission in writing from IFAC. Save and except to the extent that the By-Laws on Professional Ethics is substantially based on the IESBA Code (the copyright of which is held by the IFAC), the material contained herein is the property of the Malaysian Institute of Accountants and is protected by copyright, trademark and other intellectual property rights laws applicable in Malaysia. All rights reserved. The material herein may be accessed and displayed on a computer, monitor or other video display device, and the user may make a print copy of any page or part thereof from the material herein, solely for personal use and reference or for academic classrooms, provided the same is not modified in any way. The user must not modify, copy, reproduce, distribute, republish, display, sell, create derivative works, communicate or convey to others, store in a retrieval system, transmit or export in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, or otherwise use the material contained herein or any part thereof, in any way for commercial, profit or other purposes.