Under the ICAI Code of Ethics, the FIVE FUNDAMENTAL PRINCIPLES for a Chartered Accountant are:
AHonesty, Loyalty, Diligence, Confidentiality, Public Service
BIntegrity, Objectivity, Professional Competence and Due Care, Confidentiality, Professional Behaviour
CTruthfulness, Reliability, Competence, Discretion, Authority
DIndependence, Compliance, Skepticism, Professionalism, Quality
Answer & Solution
Correct answer: B. Integrity, Objectivity, Professional Competence and Due Care, Confidentiality, Professional Behaviour
ICAI Code of Ethics (2019, applicable from 1 July 2020, derived from IESBA 2018) — the five fundamental principles are: (a) Integrity (straightforward and honest), (b) Objectivity (no bias / conflict / undue influence), (c) Professional Competence and Due Care (technical skill + diligence), (d) Confidentiality (information protection), (e) Professional Behaviour (compliance with laws + non-discrediting conduct).
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