The By-Laws on Professional Ethics is substantially based on the Code of Ethics for Professional Accountants issued by the International Federation of Accountants (IFAC). Ethics is about principles, values and beliefs which influence, judgement and behaviour. It goes beyond obeying laws, rules and regulations - it is about doing the right thing in the circumstance. The existence of trust is essential to business and society.

A distinguishing mark of the accountancy profession is its acceptance of the responsibility to act in public interest. Therefore, a professional accountant’s responsibility is not exclusively to satisfy the needs of an individual client or employer. In acting in the public interest, a professional accountant should observe and comply with the ethical requirement of the By-Laws that have been framed with the objective that members exhibit the highest standards of professionalism and professional conduct that are expected of the profession.

To ensure that the By-Laws are relevant and meets the needs of both the profession and the stakeholders involved, the council amends the By-Laws from time to time. As such, members are required to familiarise with the By-Laws, as they may be amended and updated onto the website for members to comply with the By-Laws.