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The standards of practice that a CA is expected to maintain are those prescribed in both the CICA Handbook
and the Institute Handbook.
- The CICA handbook deals with accounting and auditing standards and both the Canada Business Corporations
Act and the Newfoundland Corporations Act refer to the CICA Handbook as the standard to which financial
statements must be prepared. These Acts also require auditors to perform their work in accordance with the
auditing standards the CICA Handbook prescribes.
- The rules of professional conduct are established by the
Institute and are included in the Institute Member's Handbook.
Institute members engaged in the practice of public accounting in Newfoundland are required by the rules
of professional conduct to adhere to the standards prescribed by both the CICA Handbook and the Institute
Member's Handbook.
As a self-governing body, The Institute of Chartered Accountants of Newfoundland has a mandate for the
protection of the public interest. This is achieved through the high level of professional conduct and
ethical standards set for all its members and maintained through its own activities and governing
legislation.
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