- The rewritten NZ Code of Ethics will provide clearer, stronger guidance for accountants navigating ethical challenges.
- CA ANZ wants members’ feedback on the Exposure Draft by 8 February 2019.
- The revised NZ Code is proposed to apply from 15 June 2019.
The New Zealand Regulatory Board is proposing to adopt a revised Code of Ethics based on the recently updated International Code of Ethics. The revised Code of Ethics will apply to all CA ANZ members in New Zealand. Members are invited to comment on the Exposure Draft 2018-2 Proposed revision of New Zealand Code of Ethics by 8 February 2019.
A clearer accounting code of conduct
Clearer and stronger guidance is being provided to help professional accountants navigate the ethical obligations and challenges they encounter.
The International Ethics Standards Board for Accountants (IESBA) released its revamped Code of Ethics for Professional Accountants (including International Independence Standards) (the Code) in April 2018, and it will apply from June 2019.
The new NZ accounting Code of Ethics has the same fundamental principles of integrity, objectivity, professional competence and due care, confidentiality and professional behaviour but has been restructured and rewritten in a way to make it easier to understand.
“The fundamental principles included in the Code give all professional accountants clear principles to follow in their professional activities, regardless of career stage or type of role,” says Kristen Wydell FCA, general manager professional standards at CA ANZ.
“The Code is equally applicable and important for members working in public practice, for corporate enterprises, not-for-profits or in academia.”
In response to this, standard setters in Australia and New Zealand have been updating their respective Codes for CA ANZ members. The key dates are summarised below.
“The fundamental principles included in the Code give all professional accountants clear principles to follow in their professional activities, regardless of career stage or type of role.”
DATES FOR APPLICATION OF NEW CODES
You can find out more about the proposed changes to the NZ Code of Ethics and have your say here.
Acuity explored more issues around accounting ethics with Clare Payne, EY Oceania Fellow for Trust and Ethics, in the December 2018 magazine.