Abstract:

The article gives the view of certain regulations in the Code of ethics of accountants and auditors. To justify the approach we have comparatively analyzed the basic principles of the Code and ethic regulations of the commonly accepted business communication including regulations of the Russian business culture. The main conditions of threat emergence in activities of accountants and auditors have been pointed out. There have been systematized the basic options how to minimize the threats in accountants’ and auditors’ activity. The research is based on Codes of ethics of professional accountants and auditors approved by Institute of professional accountants of Russia and NP Chamber of Professional Accountants and Auditors. There has been made the conclusion that the Code of ethics of professional accountants and auditors is an internal document for members of professional accounting and auditor associations without special legal status.