Ethics and Professional Conduct in Auditing

What Will You Learn?

• Day 1: Introduction to Ethics and Professional Conduct in Auditing
• Overview of ethics and professional conduct in the auditing profession.
• The role of ethical principles in enhancing the credibility and effectiveness of audits.
• Key ethical concepts: integrity, independence, objectivity, and confidentiality.
• Group Discussion: Why ethics are crucial in auditing, and what happens when ethical principles are violated.
• Day 2: Ethical Frameworks and Regulatory Standards
• Overview of ethical frameworks for auditors: IFAC Code of Ethics, AICPA Code of Conduct, and others.
• The importance of professional skepticism and due diligence in audit engagements.
• Understanding regulatory standards and their impact on ethical behavior in auditing.
• Case Study: Analyzing ethical violations in auditing and lessons learned from real-world examples.
• Day 3: Navigating Ethical Dilemmas in Auditing
• Identifying common ethical dilemmas and conflicts of interest auditors face.
• Strategies for resolving ethical challenges while maintaining professional integrity.
• Managing ethical conflicts between auditors and clients, stakeholders, or management.
• Workshop: Role-playing various ethical scenarios to practice making ethical decisions.
• Day 4: Maintaining Independence and Objectivity in Audits
• Understanding the importance of independence and objectivity in audits.
• Managing situations where auditor independence may be threatened (e.g., relationships with clients, financial interests).
• Ethical decision-making and avoiding bias in audit findings.
• Case Study: Reviewing an audit scenario where independence was compromised and the consequences.
• Day 5: Reporting and Communicating Ethical Issues in Auditing
• Best practices for documenting and reporting ethical violations or concerns during audits.
• Communicating findings on ethical issues to key stakeholders (management, audit committees, regulators).
• Understanding the role of auditors in ensuring transparency and accountability.
• Final Project: Preparing an audit report addressing ethical concerns and providing recommendations for improving ethical practices.