1. List and describe the ethical principles in the audit profession and their importance and impact on auditors’ performance. 2. Discuss the importance of ethical values such as integrity, objectivity...

1. List and describe the ethical principles in the audit profession and their importance and impact on auditors’ performance.

2. Discuss the importance of ethical values such as integrity, objectivity and independence of auditors in terms of enhancing public confidence and the better functioning of capital markets.

3. How can auditor independence best be defined?

4. What are the reasons for auditor independence in a capital market economy?

5. What are the threats affecting auditor objectivity and independence, and the possible safeguards to eliminate such threats or reduce them to an acceptable level?