What is the total number of fundamental principles of professional ethics established by the Code of Ethics?

The total number of fundamental principles of professional ethics established by the Code of Ethics is indeed five. These principles are designed to guide professionals in their conduct and decision-making processes, ensuring integrity, objectivity, professional competence, confidentiality, and professional behavior in their practice.

Understanding these five principles is essential for maintaining the credibility and trustworthiness of the profession. Each principle serves a specific purpose: integrity emphasizes honesty and fairness, objectivity demands impartiality and free from conflicts of interest, professional competence encourages continual learning and skill development, confidentiality requires respect for the privacy of information, and professional behavior promotes compliance with relevant laws and regulations.

This framework is foundational to ethical practices in various professions, including auditing, as it upholds the trust that the public places in professionals.