Ethics: a year of progress

Article Abstract:

The Chartered Accountants Joint Ethics Committee (CAJEC) was established to maintain and promote ethical standards in the accounting profession in the UK. It was jointly set up by the Institute of Chartered Accountants in England and Wales and its counterparts in Scotland and Ireland. Within a year from commencement of its operations on Jul 1, 1991, CAJEC has already finished the revision of the Guide to Professional Ethics. A Standard Review Group was also established to check if ethical guidance is needed on particular issues, such as specialist valuations and opinion shopping. Consultations on the proposals of the group on these concerns extend to non-accounting persons. Other topics of debate are recommended by the Standing Review Group for the formulation of ethical guidelines on these issues. Jock Worsley continues to serve as the first CAJEC chairman.

Business associations, Ethical aspects, Institute of Chartered Accountants of Scotland, Institute of Chartered Accountants in Ireland

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Reputations at stake in the pursuit of quality

Article Abstract:

The reputation of accountants as professionals rests on their ability to provide high quality service. This reputation, however, can be damaged irreparably by a single substandard performance. Accountants who have lost the confidence of their clients can experience greater fee resistance and can miss the chance of profiting from future opportunities. Cognizant of how important the capability of providing quality services is to accountants, the Institute of Chartered Accounts in England and Wales recently published 'Profit and Quality' to serve as a guide to its members. This publication offers guidelines to chartered accountants on the effective application of quality systems within the field of accounting.

Standards, Publishing industry, Methods, Total quality management, Bibliography

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Nouvelle cuisine-the regulatory way to live

Article Abstract:

The new Securities and Investments Board (SIB) proposal to simplify its Conduct of Business Rules falls short in addressing the fundamental problems that contribute to the current over-regulatory environment. The proposed rule changes do not take into account the professional duties and the legal obligations of practicing members of the accounting profession. The new rules will further burden practitioners with higher monitoring cost, which in 1989 is estimated to reach 2.9 million pounds sterling. SIB should seek corrective measures of reform which include: urging the government to: re-examine investor protection revaluation; eliminate bureaucratic layers; and clarify future fees schedules.

United Kingdom, Laws, regulations and rules, Accounting and auditing, Great Britain

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