Professional standards and conduct

Professional work requires a framework for conduct, judgement and responsibility. The Malaysian Institute of Accountants (MIA) By-Laws (On Professional Ethics, Conduct and Practice) set that framework for MIA members and member firms.

Fundamental principles

Section 110 of the MIA By-Laws identifies five principles: integrity; objectivity; professional competence and due care; confidentiality; and professional behaviour.

• Integrity: being straightforward and honest in professional and business relationships.
• Objectivity: exercising professional judgement without being compromised by bias, conflicts of interest or undue influence.
• Professional competence and due care: maintaining appropriate knowledge and skill, and acting diligently in accordance with applicable standards.
• Confidentiality: respecting information acquired through professional and business relationships, subject to applicable rights or duties to disclose.
• Professional behaviour: complying with relevant laws and regulations and avoiding conduct that may discredit the profession.

Applying the framework

The By-Laws require a professional accountant to identify threats to compliance with the fundamental principles, evaluate their significance and address them where necessary. The appropriate response depends on the circumstances and the requirements that apply to the work.

Further information

This page is a general overview. Readers may consult the current MIA By-Laws or contact Saifudin & Co for general enquiries. Website information does not determine the treatment of a particular matter or the scope of any engagement.