Why do you believe that it is important for auditors to act in an ethical manner?

Part 1
1) Why do you believe that it is important for auditors to act in an ethical manner?
2) Examine the ethical code for accountants promulgated by Colorado state licensing board. What does it say?
3) Pick another state’s ethical code for accountants and compare it to your state’s code. How is it similar? Are there any differences?

Part 2
1) What are some ways that auditors can proactively limit their chances of legal exposure from performing audits? Give examples from standards relating to ethics, audit planning, good practice management, etc. Which of these is the most important?

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