i. Ethical Codes
Ethical codes are a set of principles and guidelines that govern the professional conduct and decision-making of individuals within a specific profession. For accountants, these codes outline standards of integrity, objectivity, professional competence, confidentiality, and professional behavior. Ethical codes serve as a framework to help professionals maintain trust, uphold their responsibility to the public, and ensure that their actions align with the profession’s values and standards.

ii. Purpose of Ethical Codes for a Professional Accountant
The purpose of ethical codes for professional accountants is to foster trust and credibility within the profession by guiding accountants in their relationships with clients, the public, and other stakeholders. Ethical codes help ensure that accountants act with integrity and objectivity, maintaining confidentiality and professionalism in all dealings. This upholds the reputation of the accounting profession and protects the public’s interest by promoting transparency, accountability, and ethical decision-making.