In discussing the benefits of the Global Code of Ethics, Richard George, chairperson of the International Ethics Standards Board for Accountants, said, 'Strong and clear independence standards are vital to investor trust in financial reporting. The increase in trust and certainty that flow from familiarity with standards, including a common understanding of what it means to be independent when providing assurance services, will contribute immeasurably to a reduction in barriers to international capital flows.' Explain the link between auditor independence and facilitating international capital flows from the public interest perspective.

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Global code of ethics An International Ethics Standards Board of Accountants was been established to ... View the full answer