Can the moral standing of the accounting profession be based on a consensus of international morals and values?
Formerly local professional fundamentals and values are now global
IFAC provides ethics education
PIOB (Public Interest Oversight Board) oversees work of IFAC committees and considered and approved revised Code of Ethics for Professional Accountants issued by the Accounting Practices Board
The revised code clarifies requirements for all professional accountants and significantly strengthens auditor independence requirements