Code of Ethics
You can consult the Code of Ethics of Chartered Accountants here.
As provided for under section 87 of the Professional Code, the Ordre adopted a code of ethics governing the general and special duties of chartered accountants towards the public, their clients and their profession, particularly the duty to discharge their professional obligations with integrity.
The Code of Ethics of Chartered Accountants was first revised in 2003 and again in February and September 2004. The changes made in 2003 were mainly intended to harmonize the Code with the Regulation respecting the practice of the chartered accountancy profession within a partnership or a joint-stock company, to update certain provisions for consistency with terms used in the CICA Handbook and to integrate and update the provisions respecting advertising by chartered accountants, firm names and contingent fees.
The February 2004 amendments covered certain provisions respecting professional secrecy, among others.
In September 2004, the new independence rules respecting the performance of audit, review and other assurance engagements were integrated into the Code of Ethics. These new rules are similar to those adopted by the CA profession in the rest of Canada. The amendments also include new rules on conflicts of interest and confidentiality that have been harmonized, wherever possible, with the rules applied in the other Canadian provinces. Certain sections of the Code of Ethics were amended, in particular section 19, which now specifies that a chartered accountant responsible for preparing or approving financial statements, or for overseeing the accounting and financial reporting processes, shall also ensure that such statements and processes result in a fair presentation of the enterprise's financial position in accordance with generally accepted accounting principles.
Finally, in August 2005, the transitional and final provisions adopted in August 2004 respecting "partner rotation" were corrected to add one year to the implementation period for Quebec chartered accountants.
You can download these documents, some being in PDF format:
CAVEAT
Councils of the provincial institutes of chartered accountants in Canada and the Institute of Chartered Accountants of Bermuda (the “Institutes”) periodically issue interpretations to the prescribed Rules of Professional Conduct, hereinafter referred to as “Council Interpretations,” for their members, firms and CA students. These Council Interpretations are provided for information and guidance purposes only. Users of the Council Interpretations are invited to read them in conjunction with the specific rules and foreword contained in their respective code of ethics.
The Board of Directors of the Ordre des comptables agréés du Québec has not adopted similar interpretations. The second paragraph of section 36.4 of the Code of Ethics of Chartered Accountants adopted by the Ordre simply makes reference to Rule 204 of the Canadian Harmonized Rules of Professional Conduct. However, while not claiming that the syndic of the Ordre is bound by the Council Interpretations to Rule 204 on independence adopted by these Institutes, the Ordre has posted them on its website for transparency purposes.
