At KDC adherence and compliance with Ethics Standards is something we take extremely seriously. Our approach to Ethics highly supports this position and is something that we will make all necessary efforts and actions to ensure that it touches every piece of our firm.



A. Sources of Ethics

B. The 5 Fundamental Principles of Ethics

C. Threats over the 5 Fundamental Principles

D. Recommended Safeguards


1. Source of the Code of Ethics


Chartered Accountants are expected to demonstrate the highest standards of professional conduct and to take into consideration the public interest. Ethical behavior by Chartered Accountants plays a vital role in ensuring public trust in financial reporting and business practices and upholding the reputation of the accountancy profession


KDC uses as a guide to ethics the followings:

• The IFAC’s Code of Ethics for Professional Accountants -For more information can be found at

• The ICAEW Code of Ethics

• The Code of Ethics and Conduct is set out in section 3 of the ACCA Rulebook.


2. The 5 Fundamental Principles


The above sources of code of Ethics sets out five fundamental principles, which we are taking into an absolute consideration.




To be straightforward and honest in all professional and business relationships.




To disallow bias, conflict of interest or undue influence of others to override professional or business judgments.




To maintain professional knowledge and skill at the level required to ensure that a client or employer receives competent professional services based on current developments in practice, legislation and techniques and act diligently and in accordance with applicable technical and professional standards.




To respect the confidentiality of information acquired as a result of professional and business relationships and, therefore, not disclose any such information to third parties without proper and specific authority unless there is a legal or professional right or duty to disclose nor use the information for the personal advantage of the professional accountant or third parties.




To comply with relevant laws and regulations and avoid any action that discredits the profession.


3. Threats on the Fundamental Principles


Compliance with the fundamental principles may potentially be threatened by a broad range of circumstances.

Many threats fall into the following categories:

self-interest – the threat that a financial or other interest will inappropriately influence the professional accountant’s judgment or behavior;

self-review – the threat that a professional accountant will not appropriately evaluate the results of a previous judgment made or service performed, on which the accountant will rely when forming a judgment as part of providing a current service;

advocacy – the threat that a professional accountant will promote a client’s or employer’s position to the point that the professional accountant’s objectivity is compromised;

familiarity – the threat that due to a long or close relationship with a client or employer, a professional accountant will be too sympathetic to their interests or too accepting of their work; and

intimidation – the threat that a professional accountant will be deterred from acting objectively because of actual or perceived pressures.


4. Safeguards and Actions


KDC is committed to assess the threats and implement safeguards where those threats are significant.

When we think there is a threat over the Fundamental Principles we assess whether the threat is significant, we take the necessary action to remove or mitigate it.




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