Insolvency code of ethics
A new insolvency code of ethics comes into force on 1 January 2009.
The code applies to all insolvency practitioners irrespective of their authorising body, and applies to all professional work relating to an insolvency appointment or that may lead to such an appointment.
Like the rest of the ICAEW Code of Ethics the insolvency code is based on the Code of Ethics issued by the International Federation of Accountants IFAC and uses essentially the same five fundamental principles, the spirit of which must always be complied with. It requires insolvency practitioners to consider whether actions or relationships might constitute threats to those principles and where the threats are significant, requires safeguards to be implemented.
The code, which replaces the existing part D of the ICAEW Code of Ethics, includes examples and is now available in the Members Handbook.
See Also
The Faculties
Be part of our cutting edge technical communities:
- Audit and Assurance
- Corporate Finance
- Finance and Management
- Financial Services
- Information Technology
- Tax
- Financial Reporting
Access research, publications, events, discussions and more.