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Code of ethics of auditors of the Republic of Kazakhstan

Accepted at conference of Chamber of auditors of the Republic of Kazakhstan on July 20-21, 1995


In this Code of ethics of auditors of the Republic of Kazakhstan the expressions provided below are given in the following values:

ADVERTISING - transfer of the public of information concerning the services rendered by auditors for the purpose of customer acquisition.

CUSTOMER ACCOUNT - any bank account used only for transactions with sums of money of clients.

SUMS OF MONEY of CLIENTS - any sums of money, including the documents granting the right to the order money i.e. drafts, promissory notes and tovarorasporyaditelny documents which can be turned into money, for example, bearer securities which the auditor receives in the course of activities for the purpose of storage or payment according to orders of person from whom or on behalf of which they were received.

The COMPANY - any legal entities (person) created with revenue generating purpose or without generation of profit including the head company and all its affiliated enterprises.

The ACTING AUDITOR - the person certified by the qualification commission and who received the certificate of competency which at present is engaged in audit or performing work on financial accounting, the taxation, providing to the client consulting or other professional services of this sort.

The RECEIVER of INVESTMENTS - affiliated enterprise or business entity on which the investor has capability to exert considerable impact.

The INVESTOR - the head company, the main unlimited liability partner, physical person or corporation having capability to exert considerable impact on the receiver of investments.

OBJECTIVITY - combination of impartiality and professional honesty.

PROFESSIONAL SERVICES - any services in audit or the related areas which are carried out by the auditor including financial accounting, audit, the taxation, consultations on management and services in financial management.

PUBLICITY - the message to society of information on the auditor which is not intended for advertizing of its activities.

The SUBSEQUENT AUDITOR - the auditor to whom the acting auditor or his client report audit, consulting services and services of this sort for requirements satisfaction of the client.

REPORTING TASK - the occupation requiring creation of the conclusion by the auditor on financial information.

SERVICE OFFERING - approach to the prospective customer for the purpose of the offer of professional services. Direct contact with the prospective customer (personal, mail, via phone).



1. Chamber of auditors of the Republic of Kazakhstan, acknowledging responsibility of profession of the auditor and considering that its role consists in providing management, encouragement of high-quality work, and also in contribution of harmonization of the identity of the auditor, made the decision to establish the Code of ethics of auditors.

2. This Code of ethics establishes:

- standards of behavior of auditors;

- the fundamental principles which shall be observed by auditors for achievement of common goals.

3. The profession of the auditor is characterized:

- ownership of the certain professional skills acquired as a result of training and education;

- acceptance of obligations both in relation to society in general, and in relation to the client;

- approach to the client which shall be obligatory for objective;

- rendering the personal services meeting the highest requirements of standards of behavior and performance of work.



4. Distinctive feature of profession of the auditor is understanding of the social responsibility by him.

Public interest is determined as public welfare for which the auditor works. But the satisfaction of need of the individual client is not ultimate goal of the auditor as auditing standards first of all are determined by public interest.

- Auditors confirm reliability and reality of the financial statements submitted to financial bodies and shareholders as partial reasons for loans or receipt of money;

- Consultants for taxes check correctness of tax payment according to the tax legislation.



5. The purpose of profession of the auditor is in working according to regulations of the highest professionalism for achievement of the maximum level of efficiency generally for requirements satisfaction of society. It assumes observance of four main requirements:



Society feels the need for reliability of the used information and information systems.



There are requirements to auditors as to professionals in audit area which can be clearly determined by clients, employers and other concerned parties.



The guarantee that all services rendered by the auditor are carried out according to the highest requirements of standards is necessary.



Users of services of the auditor shall be sure that he will never break the principles of professional ethics on which the provided services are based.



6. To achieve the objectives facing the auditor it is necessary to satisfy number of certain conditions or the principles.

Them are:



The auditor shall be fair in case of accomplishment of the professional obligations.



The auditor shall be fair and not assume that prejudices, bias and other factors exerted impact on objectivity.




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