ICAEW ARF · Chapter 10 · Question 1 of 12
Which of the following is NOT one of the five fundamental principles set out in the ICAEW Code of Ethics?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: D) Independence
Explanation
The five fundamental principles in the ICAEW Code of Ethics are integrity, objectivity, professional competence and due care, confidentiality, and professional behaviour. Independence is closely linked to objectivity and is required of auditors and other assurance providers under the Code's independence requirements and, for UK audits, the FRC Ethical Standard, but it is not itself one of the five fundamental principles. Integrity, objectivity and professional behaviour are all fundamental principles.
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