Addis Ababa, 22/11/2024- The Accounting and Auditing Board of Ethiopia (AABE) has officially ratified a new Professional Code of Ethics designed to enhance integrity and accountability within the accounting profession. This significant decision was made during a recent meeting of the Board of Directors, reflecting AABE’s commitment to upholding high ethical standards.
The meeting, chaired by Eyob Tekalegn (PhD), the State Minister of Finance, and the Chair of AABE Board of Directors said,”The professional code of ethics is essential for maintaining the integrity and trustworthiness of the profession that sets clear standards for behavior, guiding accountants and auditors in their decision-making processes. By adhering to these principles, we can enhance public confidence and ensure accountability within the accounting sector, ultimately benefiting our society.”
The Professional Code of Ethics of version 2024 outlines the fundamental principles that all members of the profess- ion must adhere to, including integrity, objectivity, professional competence, confidential- ity, and professional behavior.
By establishing clear ethical guidelines, AABE aims to promote trust and confidence among stakeholders in the accounting and auditing sectors.
Board members expressed their support for the code, recognizing its importance in fostering a culture of ethical practice. They discussed the necessity of ongoing training and awareness programs to ensure that all professionals are familiar with the code and its implications for their work.
The ratification of the Professional Code of Ethics marks a critical step in AABE’s efforts to strengthen the regulatory framework for the accounting profession in Ethiopia, ultimately contributing to the development of a transparent and accountable financial environment.