Summary of the ICTA Professional Code of Conduct (Code of Ethics)
Honesty and integrity
- You must act honestly and with integrity.
- You must comply with the * taxation laws in the conduct of your personal affairs.
- you receive money or other property from or on behalf of a client; and
- you hold the money or other property on trust; you must account to your client for the money or other property.
- You must act lawfully in the best interests of your client.
- You must have in place adequate arrangements for the management of conflicts of interest that may arise in relation to the activities that you undertake in the capacity of a * Certified Tax Accountant (CTA).
- Unless you have a legal duty to do so, you must not disclose any information relating to a client’s affairs to a third party without your client’s permission.
- You must ensure that a * CTA service that you provide, or that is provided on your behalf, is provided competently.
- You must maintain knowledge and skills relevant to the * CTA services that you provide.
- You must take reasonable care in ascertaining a client’s state of affairs, to the extent that ascertaining the state of those affairs is relevant to a statement you are making or a thing you are doing on behalf of the client.
- You must take reasonable care to ensure that * taxation laws are applied correctly to the circumstances in relation to which you are providing advice to a client.
- You must not knowingly obstruct the proper administration of the * taxation laws.
- You must advise your client of the client’s rights and obligations under the * taxation laws that are materially related to the * CTA services you provide.
- You must maintain professional indemnity insurance that meets the Board’s requirements.
- You must respond to requests and directions from the Board in a timely, responsible and reasonable manner.
Sanctions for failure to comply with the Code of Professional Conduct (Code of Ethics)