1a) -Clients have the right to choose their accountants, whether as auditors or professional advisers, and to change their accountants if they so desire.Professional accountants have the right to choose for whom they act.
-Before accepting a new client relationship, a professional accountant in public practice shall determine whether acceptance would create any threats to compliance with the fundamental principles. Potential threats to integrity or professional behaviour may be created from, for example, questionable issues associated with the client
-Client issues that, if known, could threaten compliance with the fundamental principles include, for example, client involvement in illegal activities (such as money laundering), dishonesty or questionable financial reporting practices.
-A professional accountant in public practice shall evaluate the significance of any threats and apply safeguards when necessary to eliminate them or reduce them to an acceptable level.
b) responsibility of director
- try to make the co. a success, using your skills, experience and judgment
- follow the co’s rules, shown in its AOA
- make decisions for the benefit of the co.
- tell other shareholders if you might personally benefit from a transaction the co. makes
- make sure the co’s accounts are a true and fair view of the business’ finances.
c) – auditing is the analysis of the financial accounts/records, by a qualified accountant, and procedures of a firm organization.
- this is essential in order to gain a fair perspective on the co’s financial statement
- potential investors and creditors can look at financial statement to decide whether to invest in a business o not
- important as it also protects the public from scams and corrupt business procedures
d) Financial Audits,Compliance Audits, Information Technology Audits, Departmental Audits

e) – duty to carry out