IFAC’s A Guide for PAOs – Developing Good Practices for Members Providing Tax Advice
Members of professional accountancy organisations (PAOs) who provide tax advice operate in a complex business and financial environment. Ethical behaviour in relation to tax advice is crucial. PAOs’ and their members’ conduct reflects not just on themselves but also on the accountancy profession. As such, PAOs have a responsibility to ensure that their members who provide tax advice as part of their responsibilities to serve their clients or employing organisations’ interests uphold the profession’s reputation.
The International Federation of Accountants (IFAC) has developed a new good practice guide to support PAOs in providing guidance to their members regarding the application of the International Code of Ethics for Professional Accountants when providing tax advice. Titled ‘A Guide for PAOs – Developing Good Practices for Members Providing Tax Advice’, it is hoped that the guide will help illustrate what compliance with the Code of Ethics might entail in the tax space.
CAPA recommends this guide to member PAOs – explore the guide on IFAC’s website at: https://www.ifac.org/publications-resources/guide-professional-accountancy-organizations-developing-good-practices
CAPA also encourage member PAOs to share relevant knowledge, including national examples and case studies to help IFAC enrich the guide. Knowledge sharing or dialogues directly with IFAC can be done via submissions to: ConversationsWithPAOs@ifac.org