MAS PRACTICE STANDARDS AND ETHICAL
Engagements are to be The common principles found in the Code
CONSIDERATIONS
MAS Practice Standards
Personal Characteristics
Competence
Due Care
Client Benefit
Understanding with Client
Planning, Supervision and Control
Sufficient Relevant Data
Communication of Results
Standard No. 1. In performing MAS, a
practitioner must act with integrity and
objectivity and be independent in mental
attitude
Standard No. 2. Engagements are to be
performed by a practitioner having
competence in the analytical approach and
process, and in the technical subject matter
under consideration.
Standard no. 3. Due professional care is to be
exercised in the performance of a
management advisory services engagement.
Standard No. 4. Before accepting an
engagement, a practitioner is to notify the
client of any reservations he has regarding
anticipated benefits.
Standard No. 5. Before undertaking an
engagement, a practitioner is to inform his
client of all significant matters related to the
engagement.
Standard No. 6.
adequately planned, supervised, and of Ethics can be broadly classified into
controlled. four areas:
Standard No. 7. Sufficient relevant data is to I. Basic responsibilities
be obtained, documented and evaluated in II. Practice Standards
developing conclusions and III. Fee arrangements
recommendations. IV. Business Conduct
Standard no. 8. All significant matters relating
to the result of the engagement are to be
communicated to the client.
Ethical Considerations
Code of Ethics for Professional Accountants in
the Philippines Relevant to Management
Consultancy Services.
Part A- Applicable to all Professional
Accountants
SECTION 1- Integrity and Objectivity
SECTION 2- Resolution of Ethical
Conflicts
SECTION 3- Professional Competence
SECTION 4- Confidentiality
SECTION 8- Independence
Code of Ethics for Management Consultant
Code of Conduct for management consultants
represents the attitude, principles and
approaches that have been found to
contribute most to success and make for
equitable and satisfactory client relationship.
To promote the highest quality performance
in the practice of management consultancy is
presented below.