APES 110 Code of Ethics for Professional Accountants (including Independence Standards)
Part 3: Members in public practice – APES 110 Code of Ethics for Professional Accountants (including Independence Standards)

APES 110 Code of Ethics for Professional Accountants (including Independence Standards) 340: Inducements, including gifts and hospitality (public practice)

What does 340 require?

A Member in Public Practice must not offer or accept inducements meant to improperly sway the recipient's or a third party's conduct, must comply with anti-bribery laws, and must apply the conceptual framework to inducements without improper intent, including those offered to or by immediate or close family. For audit and assurance clients the stricter Sections 420 and 906 apply. Safeguards include declining the inducement, telling the client's senior management or governance body, and reimbursing or transferring the item to the firm.

Maintained by Gerard Blokdyk

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