Code of Ethics 2019 Presented at ICAI Ernakulam

Code of Ethics 2019 Presented at ICAI, Ernakulam on 20 th December 2019 SURI & CO, QUALITY CONTROL WING

History & Date of Applicability First Edition – November 1963 Twelfth Edition – January 2019 Previous Edition – January 2009 Code of Ethics – 2019 Applicable from 1 st April 2020 Transitional arrangements are available in respect of specific sections of this Code.

Things to Know International Ethics Standards Board for Accountants (IESBA) Code of Ethics, 2018 Issued by the International Federation of Accountants (IFAC) Sets out fundamental principles of ethics for professional accountants, reflecting the professions recognition of its public interest responsibility. integrity, objectivity, professional competence and due care, confidentiality, and professional behaviour Provides a conceptual framework that professional accountants are to apply in order to identify, evaluate and address threats to compliance with the fundamental principles. Sets out Independence Standards

Structure of the Code Part 1 - Complying with the Code, Fundamental Principles and Conceptual Framework -Section 100 -199 Part 2 – Professional Accountants in Service - Section 200 -299 Part 3 – Professional Accountants in Public Practice - Section 300 -399 Part 4 A – Independence for Audit and Review Engagements - Section 400 -899 Part 4 B – Independence for Assurance Engagements Other than Audit and Review Engagements - Section 900 -999

Structure of the Code - Part 1 COMPLYING WITH THE CODE, CONCEPTUAL FRAMEWORK FUNDAMENTAL 100 COMPLYING WITH THE CODE 110 THE FUNDAMENTAL PRINCIPLES 111 INTEGRITY 112 OBJECTIVITY 113 PROFESSIONAL COMPETENCE AND DUE CARE 114 CONFIDENTIALITY 115 PROFESSIONAL BEHAVIOUR 120 THE CONCEPTUAL FRAMEWORK PRINCIPLES AND

Structure of the Code - Part 2 PROFESSIONAL ACCOUNTANTS IN SERVICE 200 APPLYING THE CONCEPTUAL FRAMEWORK – PROFESSIONAL ACCOUNTANTS IN SERVICE 210 CONFLICTS OF INTEREST 220 PREPARATION AND PRESENTATION OF INFORMATION 230 ACTING WITH SUFFICIENT EXPERTISE 240 FINANCIAL INTERESTS, COMPENSATION AND REPORTING AND DECISION MAKING 250 INDUCEMENTS, INCLUDING GIFTS AND HOSPITALITY 260 RESPONDING TO NON-COMPLIANCE WITH LAWS EMPLOYMENT WITH LISTED ENTITIES 270 PRESSURE TO BREACH THE FUNDAMENTAL PRINCIPLES INCENTIVES LINKED TO FINANCIAL AND REGULATIONS IN CASE OF

Structure of the Code - Part 3 PROFESSIONAL ACCOUNTANTS IN PUBLIC PRACTICE 300 APPLYING THE CONCEPTUAL FRAMEWORK – PROFESSIONAL ACCOUNTANTS IN PUBLIC PRACTICE 310 CONFLICTS OF INTEREST 320 PROFESSIONAL APPOINTMENTS 321 SECOND OPINIONS 330 FEES AND OTHER TYPES OF REMUNERATION 340 INDUCEMENTS, INCLUDING GIFTS AND HOSPITALITY 350 CUSTODY OF CLIENT ASSETS 360 RESPONDING TO NON-COMPLIANCE WITH LAWS AND REGULATIONS DURING THE COURSE OF AUDIT ENGAGEMENTS OF LISTED ENTITIES

Structure of the Code - Part 4 A INDEPENDENCE FOR AUDIT AND REVIEW ENGAGEMENTS 400 APPLYING THE CONCEPTUAL FRAMEWORK TO INDEPENDENCE FOR AUDIT AND REVIEW ENGAGEMENTS 410 FEES 411 COMPENSATION AND EVALUATION POLICIES 420 GIFTS AND HOSPITALITY 430 ACTUAL OR THREATENED LITIGATION 510 FINANCIAL INTERESTS 511 LOANS AND GUARANTEES 520 BUSINESS RELATIONSHIPS

Structure of the Code - Part 4 A INDEPENDENCE FOR AUDIT AND REVIEW ENGAGEMENTS 521 FAMILY AND PERSONAL RELATIONSHIPS 522 RECENT SERVICE WITH AN AUDIT CLIENT 523 SERVING AS A DIRECTOR OR OFFICER OF AN AUDIT CLIENT 524 EMPLOYMENT WITH AN AUDIT CLIENT 525 TEMPORARY PERSONNEL ASSIGNMENTS 540 LONG ASSOCIATION OF PERSONNEL (INCLUDING PARTNER ROTATION) WITH AN AUDIT CLIENT 550 AUDITOR ROTATION 600 PROVISION OF NON-ASSURANCE SERVICES TO AN AUDIT CLIENT

Structure of the Code - Part 4 A INDEPENDENCE FOR AUDIT AND REVIEW ENGAGEMENTS 601 ACCOUNTING AND BOOKKEEPING SERVICES 602 ADMINISTRATIVE SERVICES 603 VALUATION SERVICES 604 TAX SERVICES 605 INTERNAL AUDIT SERVICES 606 INFORMATION TECHNOLOGY SYSTEMS SERVICES 607 LITIGATION SUPPORT SERVICES 608 LEGAL SERVICES

Structure of the Code - Part 4 A INDEPENDENCE FOR AUDIT AND REVIEW ENGAGEMENTS 609 RECRUITING SERVICES 610 CORPORATE FINANCE SERVICES 800 REPORTS ON SPECIAL PURPOSE FINANCIAL STATEMENTS THAT INCLUDE A RESTRICTION ON USE AND DISTRIBUTION (AUDIT AND REVIEW ENGAGEMENTS)

Structure of the Code - Part 4 B INDEPENDENCE FOR ASSURANCE ENGAGEMENTS OTHER THAN AUDIT AND REVIEW ENGAGEMENTS 900 APPLYING THE CONCEPTUAL FRAMEWORK TO INDEPENDENCE FOR ASSURANCE ENGAGEMENTS OTHER THAN AUDIT AND REVIEW ENGAGEMENTS 905 FEES 906 GIFTS AND HOSPITALITY 907 ACTUAL OR THREATENED LITIGATION 910 FINANCIAL INTERESTS 911 LOANS AND GUARANTEES 920 BUSINESS RELATIONSHIPS 921 FAMILY AND PERSONAL RELATIONSHIPS

Structure of the Code - Part 4 B INDEPENDENCE FOR ASSURANCE ENGAGEMENTS OTHER THAN AUDIT AND REVIEW ENGAGEMENTS 922 RECENT SERVICE WITH AN ASSURANCE CLIENT 923 SERVING AS A DIRECTOR OR OFFICER OF AN ASSURANCE CLIENT 924 EMPLOYMENT WITH AN ASSURANCE CLIENT 940 LONG ASSOCIATION OF PERSONNEL WITH AN ASSURANCE CLIENT 950 PROVISION OF NON-ASSURANCE SERVICES TO ASSURANCE CLIENTS OTHER THAN AUDIT AND REVIEW ENGAGEMENT CLIENTS 990 REPORTS THAT INCLUDE A RESTRICTION ON USE AND DISTRIBUTION (ASSURANCE ENGAGEMENTS OTHER THAN AUDIT AND REVIEW ENGAGEMENTS)

Thank You CA G Rengarajan Partner Suri & Co, Chartered Accountants Kochi