AAT’s Code of Professional Ethics

Accountants face a range of ethical issues and demands every day during the course of their professional lives. From anti-money laundering considerations and responsible business to questions of tax avoidance, accountants must navigate difficult and challenging scenarios with honesty, integrity and high levels of competence.

AAT is committed to enhancing and upholding the highest ethical and professional standards, which is key to maintaining public confidence in accountancy. AAT achieves that through holding members to its Code of Professional Ethics.

Code of Professional Ethics in full

AAT requires members to have a professional and ethical approach throughout their lives. To help members maintain these standards and offer the highest levels of professional service at all times, AAT’s Code of Professional Ethics can be found in full here.

Walk me through it

AAT’s Code of Professional Ethics is based on the IESBA Code of Ethics for Professional Accountants and sets out the five fundamental principles which all AAT members are required to adopt:

• integrity
• objectivity
• professional competence and due care
• confidentiality
• professional behaviour.

Common challenges

There are several issues accountants face when it comes to ethics. A major one is unregulated accountants, who are not members of any professional bodies and offer no guarantee to the public in terms of the quality of their work or maintaining their skills through CPD. They pose a reputational risk to the profession, something that AAT has sought to tackle through its Accountable Campaign.

Disciplinary process

AAT members who breach the Code of Professional Ethics will face disciplinary action where necessary to ensure that AAT membership retains its high standards.

Key takeaways

• AAT members are subject to AAT’s ethical standards, as set out in the Code of Professional Ethics
• AAT members must adhere to the five fundamental principles
• AAT’s Accountable campaign seeks to ensure standards are set across the entire accounting profession
• Failure to adhere to AAT’s ethical standards will result in disciplinary action.

Calum Fuller Calum Fuller is editor of AT and 20 magazines. He's previously served as editor of Credit Strategy, assistant editor Accountancy and began his career at Accountancy Age..