Explain the difference among integrity, independence, and objectivity.
What will be an ideal response?
Integrity: Integrity is the duty to be honest and conscientious in performing professional services. Independence: Independence is synonymous with objectivity.
The term independence implies that that the person exhibiting the quality is free from bias or conflict of interest. Objectivity: Objectivity is defined by CPA Ontario as being "free of any influence, interest, or relationship
which, in respect of the engagement, impairs member's professional judgement or objectivity or which, in
the view of a reasonable observer" would do so. Like independence, the term objectivity implies freedom
from bias or conflict of interest.
The important distinction when discussing independence, or objectivity, is the difference between fact and
appearance. A person may be truly unbiased and free of conflict of interest-that is, objective in fact. This
quality, however, is a mental attitude that is incapable of measurement or observation. As a result, public
accountants must also be independent, or objective, in appearance; that is, any knowledgeable person
observing the accountant's actions should be able to conclude that the accountant is unbiased. Integrity is
an overriding principle.
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