Professional accountants are required to comply with the following fundamental ethical principles:

(i) Integrity:
An accountant must be honest and straightforward in his professional and business dealings. This includes a requirement for “fair dealing” and truthfulness. Accountants should not lie in any way or for any reason.

(ii) Objectivity:
An accountant must not allow his professional or business judgment to be affected by bias, conflicts of interest, or undue influence from others. Accountants in business must resist undue pressure from employers or senior management.

(iii) Professional Competence and Due Care:
An accountant has a duty to maintain professional knowledge and skills at a level that enables them to provide competent services to clients or employers. This also includes staying updated on developments relevant to their work.

(iv) Confidentiality:
Accountants must respect the confidentiality of information obtained during the course of their work. They should not disclose this information without proper authority, unless required by law.