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PRC / BOA issues New Code of Ethics for Professional Accountants in the Philippines

The International Federation of Accountants (IFAC) believes that due to national differences of culture, language, legal and social systems, the task of preparing detailed ethical requirements is primarily that of the member bodies in each country concerned and that they also have the responsibility to implement and enforce such requirements.

However, IFAC believes that the identity of the accountancy profession is characterized worldwide by its endeavor to achieve a number of common objectives and by its observance of certain fundamental principles for that purpose.

IFAC, therefore, recognizing the responsibilities of the accountancy profession as such, and considering its own role to be that of providing guidance,encouraging continuity of efforts, and promoting harmonization, has deemed it essential to establish an international Code of Ethics for Professional Accountants to be the basis on which the ethical requirements (code of ethics,detailed rules, guidelines, standards of conducts, etc.) for professionalaccountants* in each country should be founded. Read the full text


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Statement of Financial Accounting Standards

Philippine Standards on Auditing (PSA)