11) What are the roles of professional accountants in relation to their compliance to the By-Laws of the Malaysian Institute of Accountants as in this case? Integrity
Integrity means that the auditor must always carry out their auditing duties and responsibilities with the highest level and sense of integrity. Their work must be performed with diligence, responsibility, and complete sincere truthfulness. The auditor should not involve themselves in any illegal activities that can bring down their reputation. In this case, professional accountants should always check the financial statement of the company so that the information in the financial statement has fairly presented. Objectivity
Objectivity means that an auditor must be independent in appearance and in fact, and also to be unbiased and impartial. For an auditor to be independent, they should not have any financial nor managerial relationship with anyone or anything that has to do with the company being audited. In this case, the professional accountants have to be objectivity in evaluating the going concern issue. They have to investigate the relationship between Encik Selamat and Encik Azman. They should ask Encik Selamat to proceed to the legal suits against Cold Gold Sdn. Bhd. Professional Competence and due care
Competence and due care means that avoid from conflicts of interest. A conflict of interest may exist when there is a significant relationship with a person, entity, product or services that could be viewed as impairing the members’ objectives. Professional member should understand well about the business environment of EPM so that they can make sure that the company is free from conflicts of interest.
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