| 08 Dec 2010 | Circular MF16/2010 |
TO ALL MEMBER FIRMS
MALAYSIAN INSTITUTE OF ACCOUNTANTS ISSUES REVISED BY-LAWS ON PROFESSIONAL ETHICS PURSUANT TO THE REVISED CODE OF ETHICS FOR PROFESSIONAL ACCOUNTANTS BY THE INTERNATIONAL ETHICS STANDARDS BOARD OF ACCOUNTANTS PUBLISHED BY THE INTERNATIONAL FEDERATION OF ACCOUNTANTS
The Council of the Malaysian Institute of Accountants (MIA) has approved the issuance of the revised By-Laws on Professional Ethics pursuant to the revised Code of Ethics for Professional Accountants by the International Ethics Standards Board of Accountants (IESBA) published by the International Federation of Accountants (IFAC).
As part of the Institute's membership obligations, the By-Laws have incorporated the provisions of the revised Code of Ethics for Professional Accountants issued by IESBA with appropriate modifications to suit the Malaysian regulatory, legislative and professional environment. The By-Laws also contain suitable amendments and certain provisions of the Institute's By-Laws (On Professional Ethics, Conduct and Practice) issued January 2007.
As a member body of IFAC, the Institute is committed to adopting the provisions issued by IFAC, in so far as the provisions are not inconsistent with national laws and requirements. The Revised By-Laws will come into effect in January 2011.
The Revised By-Laws have been updated in the MIA Handbook. Members can download a copy of it at http://www.mia.org.my/handbook/bylaws_new or visit the Institute's website at www.mia.org.my under Ethics.
MIA staff has prepared an attachment below of the summary of comparison between IESBA's revised Code of Ethics for Professional Accountants and MIA's revised By-Laws on Professional Ethics. Members can also refer to http://www.ifac.org/Ethics/Resources.php which is prepared by IESBA for further information on the revised Code of Ethics for Professional Accountants.
Please be guided accordingly.
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