Understanding the AAT Code of Ethics

Compliance, Finance - 06/03/2024

At Numero, we’re not just experts at managing accounts; we’re also committed to managing them with the highest ethical standards. This means we’re guided by the codes of conduct that shape the accounting industry as a whole. 

One such code is the AAT (Association of Accounting Technicians) Code of Ethics. In this blog post, we’ll find out what the AAT Code of Ethics is, why it’s so important, and how it helps to form our commitment to working with integrity, objectivity, confidentiality, and professionalism.

What is the AAT Code of Ethics?

The AAT Code of Ethics is a set of principles that help govern the behaviour and conduct of accounting technicians. It’s applicable across the majority of accounts industries and a universal benchmark for ethical accounting practices.

By adhering to these principles at Numero, we can ensure our staff are equipped with a robust ethical framework and standardised set of guidelines for carrying out our outsourced legal cashiering and bookkeeping services. Our commitment to the AAT Code of Ethics also facilitates trust in our client relationships. Let’s learn more about its five fundamental principles.

The 5 Fundamental Principles of the AAT Code of Ethics

The principles outlined in the AAT Code of Ethics aren’t steadfast rules, but rather guidelines that require accounting professionals to exercise their judgement in order to uphold them. A comprehensive rule-based code would be impractical for businesses given the diverse set of challenges they can face; a values-based approach like this is far more flexible and suitable.

The fundamental principles of the AAT Code of Ethics:

1. Professional behaviour: To follow all relevant laws and regulations and avoid behaviours that could discredit the profession as a whole.
2. Professional competence and due care: To maintain the necessary knowledge and skills to provide competent professional services by staying up to date with developments, laws, and techniques, and consistently adhering to technical and professional standards.
3. Confidentiality: To safeguard sensitive information in accordance with the law, not disclose it without proper authorisation, and never use it for personal advantage or the advantage of third parties.
4. Integrity: To be honest and straightforward and act in a manner that upholds the public’s best interest.
5. Objectivity: To avoid letting bias, conflicts of interest, or undue influence interfere with professional or business judgments.

Accounting professionals must constantly be on the lookout for situations and conditions that could jeopardise their adherence to these fundamental principles. They must react appropriately to any threats and put suitable safeguards in place to mitigate or eradicate them.

At Numero, these principles guide our day-to-day operations as we navigate the complexities of legal cashiering and bookkeeping. When you work with us, your business gets all the benefits of an in-house accounts team, without the stress. Get in touch to find out more about our flexible plans.

What happens if the AAT Code of Ethics is broken?

AAT’s qualifications are universally respected and internationally recognised so when a licensed AAT member breaches the AAT Code of Ethics, the consequences are addressed through a disciplinary and tribunals process in accordance with the Professional Standards Handbook. The AAT takes complaints and misconduct allegations seriously in order to protect the public from malpractice.

Disciplinary outcomes and licensing decisions are frequently published on the AAT website to help the public make informed decisions about the accounts services they choose to use. If you need to make a complaint about an AAT member, you can do so here.

Choose Numero for Outsourced Legal Cashiering

We believe actions speak louder than words which is why our commitment to the AAT Code of Ethics is reflected in our straightforward and reliable outsourced legal cashiering and bookkeeping services.

If you’re looking for a partner that values integrity, objectivity, confidentiality, and professionalism, choose Numero. Get in touch with us today to explore how our practical and ethical approach can benefit your business. We can provide you with a customised quote based on your specific needs and requirements.