Code of ethics of the public accountant as an independent professional
ASPECTS IN GENERAL.
Article 2.01. The public accountant will express his opinion in the matters entrusted to him, taking into account the guidelines expressed in this code and once he has complied with the professional standards issued by the Institute itself, which are applicable for the performance of this work..
When the public accountant allows your name to appear in reports or documents, you must:
a) Indicate that it must be read in relation to other information that does comply with the terms of this rule, or.
b) Clearly indicate that this rule has not been complied with and the way in which this limits their professional opinion.
Article 2.02. No public accountant acting independently will allow his name to be used in connection with financial information projects or estimates of any kind, the execution of which depends on future events, in such a way as to lead one to believe that the public accountant assumes responsibility for their being carried out. such estimates or projects.
Article 2.03. The public accountant may associate with other colleagues or even with members of other professions in order to be able to provide better services to those who request them. This association can only be formed if the public accountant holds his personal and unlimited responsibility. When, due to the nature of the work, the public accountant must resort to the assistance of a specialist and his participation in the work is essential to achieve the expected results, the public accountant will assume responsibility for the specialist's capacity and competence and must clearly inform your client of the peculiarities of this situation.
Article 2.04. The public accountant should not accept responsibilities that require independence in fact and appearance, if this is limited.
Article 2.05. The professional association must make itself known using in its name or business name at least the name of one of its members, whether active, retired or deceased, who is a public accountant. You may not use company names or expressions of self-praise. When the professional association represents or is affiliated with a national or international organization of public accountants, it may make itself known by adding the name of this organization. It can only be held as a firm of public accountants when it is intended to practice in the field of public accounting and more than 50% of its partners are public accountants; In this case, they must demand that their members who are not public accountants respect the rules contained in this code of ethics, in all that is applicable to them.
Article 2.06. When any public accountant member of the association accepts a position incompatible with the independent exercise of the profession, he must withdraw from his professional activity as such, within the association itself. The same must happen when any of the public accountants members of the association has ceased to belong to the affiliated school or institute due to having been discharged under the terms of article 5.03 *, or, when not being a member of the Institute, the Board of Honor respective consider appropriate such sanction.
Article 2.07. No public accountant who exercises independently will allow a person who is not a partner, duly accredited representative or employee under his authority to act on his behalf. Neither will it sign financial statements, accounts, reports, etc., prepared by anyone who does not have any of these qualities, unless they are derived from the collaborative work referred to in article 1.07.§
It will not allow an employee or his subordinate to provide services or perform acts that the public accountant himself is not allowed, under the terms of this code.
Article 2.08. The public accountant must specify what their services will consist of and what their limitations will be. When in the performance of his work the professional encounters any circumstance that does not allow him to continue developing it in the manner originally proposed, he must communicate that circumstance to his client immediately.
Article 2.09. The public accountant shall not offer work directly and indirectly to officials or employees of her clients, unless it is with prior knowledge of them.
Article 2.10. The public accountant may in no case grant commissions or brokerage for obtaining a professional job. You may only grant participation in the fees or profits derived from your work to persons or associations with whom you share your professional practice.
Article 2.11. The Public Accountant recognizes the right that the user has to request proposals for professional services, with their corresponding fee quotation. Therefore, the Public Accountant may tender a proposal for its services and fees, whenever it is requested and does not resort to procedures that go against the profession or any of the postulates established in this code. The proposed fees must be calculated in accordance with the provisions of article 1.14. •
If the objective of the contest is to replace the current Public Accountant, before submitting the proposal, the procedure indicated in article 2.14 must be followed.
Article 2.12. The public accountant in the independent exercise of the profession will refrain from offering his services to clients of another colleague. However, you have the right to attend to those who come in demand for your services or advice.
Article 2.13. The public accountant to whom another colleague requests his intervention to provide specific services to a client of the second must act exclusively within the guidelines agreed between both. In the event that the client requests an extension of the services originally established for the public accountant called expansion of the services originally established for the public accountant called to collaborate, she shall not undertake to act in any way without first obtaining the consent of the accountant public through which she received the original instructions.
Article 2.14. When a Public Accountant is asked for a proposal for professional services by a client of another Public Accountant, for substitution purposes, they must contact him to inform him before presenting said proposal.
In case you need additional information from the current colleague, you should ask the potential client to turn the instructions so that it is freely provided.
Said information will be used exclusively to have better bases of support for your proposal of services and fees, or to decide on the acceptance of the work.
Article 2.15. In the case of professional associations, the partners may not contract or do professional work on their own, without the consent of the other partners.
Article 2.16. It is contrary to professional ethics to offer services directly to people, companies or organizations with whom they do not have personal or work relationships. Likewise, services should not be offered to those who have not requested them.
Article 2.17. Public accountants who work in association with or representing professionals from other countries are obliged and are responsible for ensuring that the latter, when present in national territory, comply with the provisions of this code.
Article 2.18. A part of the economic remuneration received by the Public Accountant may be set in relation to the results obtained with his intervention, as long as the determination of said results is not in charge of the professional himself. This method of calculating fees should not be used when the Public Accountant acts as an independent auditor.
Article 2.19. When the public accountant provides his services in a country other than his own, he must comply with the requirements of the local Code of Professional Ethics and if they do not, he must comply with the professional practices and uses in that country.
Article 2.20. The public accountant must inform its clients or partners of any significant relationship it has with persons, entities, products or services, which could imply a conflict of interest and therefore, the deterioration of its independence, on which the client or partner will expect to be informed. In cases where two or more clients are provided or are in a position to provide advice in relation to the same transaction, the public accountant must inform each of the parties involved in writing about the nature of the service they are providing or that will be provided to them, without prejudice to confidentiality.
It is important to obtain the consent of the parties involved, also in writing.
OF THE PUBLIC ACCOUNTANT AS AN EXTERNAL AUDITOR.
Article 2.21. It is considered that there is no independence or impartiality to express an opinion that serves as a basis for third parties to make decisions, when the public accountant:
a) Be a spouse, blood or civil relative in a straight line without limitation of degree, collateral within the fourth and related within the second, of the owner or main partner of the company or of any director, administrator or employee of his client, who has intervention important in the administration of the client.
b) Whether it has been in the fiscal year that he or she dictates or in relation to which his opinion is requested or he has verbal or written dealings aimed at being a director, member of the board of directors, administrator or employee of the client or an affiliated company, subsidiary or that is economically or administratively linked, whatever the way it is designated and its services are remunerated. In the case of the Commissioner, the independence of criteria is considered to subsist.
c) It has, has had in the fiscal year that it dictates or in relation to which its opinion is requested or pretends to have any direct or indirect interference or economic connection, in the company, to a degree that may affect its independence of opinion.
d) Receive, in any circumstance or reason, direct participation on the results of the matter entrusted to you by the company that hired its professional services and express your opinion on the financial statements in circumstances in which your emolument depends on the success of any transaction.
e) Be a stock exchange agent, practicing.
f) Hold a public position in an office that is involved in the review of declarations and opinions for tax purposes, taxation and granting of exemptions, concessions or permits of importance and decisions on appointments of public accountants to provide services to agencies or companies state.
g) Receive from a single client, for more than two consecutive years, more than 40% of their income or another proportion that, even if it is less, is in such a significant way compared to their total income, that it prevents them from maintaining their independence.
h) Has relationships or interests that may exert negative influence, impede or threaten their independence of judgment.
Article 2.22. The mere fact that a public accountant simultaneously performs external audit and management consulting duties does not imply a lack of professional independence, as long as the provision of services does not include the participation of the public accountant in administrative and financial decision-making.
Article 2.23. In professional associations, only those who hold the title of duly registered public accountant may sign financial statements, opinions and reports from audits.
Article 2.24. The professional services of opinion that are distinctive and exclusive to the public accountant may not be announced or publicized.
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