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Introduction to Auditing Ethics

Last modified: December 20, 2018
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Auditors are engaged by the business entities to evaluate business, projects and individuals. In addition to assessing efficiency of business processes and effectiveness of deployment of workforce, they also verify financial records or statements of businesses. They are also expected to report on correcting negativism in a business that is obstructing its growth. SBS Consultancy, a well known audit company in Singapore, through its expert team of auditors provides excellent auditing services to its clients.

While striving to achieve perfection in producing useful auditing reports, auditors are expected to abide by the ethical code of conduct and promote cooperation between the tribe of auditors and the industry.

Auditor’s Ethical Code of Conduct

The code is put together by the auditors themselves. It states principles and expectations regarding onsite behavior of auditors and auditing firms such as SBS Consulting. It highlights moral responsibilities and obligations that an auditor must follow during discharge of his duties.

Rules of Conduct


Auditors must:

  1. Independent, objective and honest auditors with faultless personal conduct, impart weight to their judgment by practicing form and spirit of auditing.
  2.  Be fair, diligent, responsible and ethical in reporting.
  3. Stick to law, practice his profession and make disclosers as and when, required by the law.
  4. Auditors must not take knowingly a part in any illegal activity and discredit the profession of auditing.
  5. Give due respect to other auditors and understand the value of their expertise and experience.


Auditors must:

  1. Auditors from Singapore auditing team practice Audit Protocol to conduct audits of their clients. They do not compromise and let any bias creep into the audit report.
  2. Auditors must not be a party to any act or relationship that will dilute their unbiased assessments.
  3. Auditors from Singapore taxation, while providing their services, keep their independence, political neutrality, objectivity, sound judgment and do not let it be impaired by coming under influence, outside interests or relationships.
  4. During the discharge of their duties, auditors should not market their services.
  5. Avoid conflict of interest, even while making initial contact with a client.
  6. Must not accept any gifts from their clients.
  7. Must not perform consecutive audits for a client.
  8. Before taking up an offer of an audit program, they should try to get in touch with their predecessors.  This will prevent them from getting into any unlawful activity.


Auditors must:

  1. Maintain confidentiality of information obtained during audit.
  2. Protect and use such information wisely for auditing purposes only. Never put it to any unlawful use. They should never try to derive personal benefit out of it.
  3. Take every step to protect, audit report or result, audit data and maintain anonymity of the interviewees.


Auditors must:

  1. Engage in a job related to their experience, skill and expertise, something that they could finish on their own. Singapore taxation follows this advice diligently.
  2. They are never to sub-contract any part of audit program.
  3. They must update and hone their skills to perfection.
  4. Provide complete and accurate evaluations to their clients.
  5. They must gain facts and discount opinions from the data obtained through documents, interviewees, observation and convey it using straightforward communication.
  6. Auditors from SBS Consultancy, a respected Singapore audit firm, provide efficient, conscientious and diligent audit and post-audit services to their client.

It is the responsibility of the public auditors to stick to ethics and provide unbiased and accurate audit report as, general investors, regulators, creditors and companies depend on it to make their decisions. Failing to do so may bring humiliation, penalties and monetary fines to the auditor or organization.

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