R-write ( paraphrasing ) this paragraphs pls.

1) Codes of conduct violated :

The rules were issued by the Capital Market Authority to ensure that they strictly complied with the requirements of both the International Standards of Auditing (IAS) and other international requirements.

2) Important for auditor to comply with law relating to auditing and accounting :

To ensure the accuracy and impartiality of financial reports and quarterly statement and that they truly represent the positions of the companies, and to detect any manipulation or fraud practices to protect the investors and to provide adequate information for sound investment.

3) Consequences if auditor do not follow the code of conduct

From Investor point of view :Public will start losing money, which they put in wrong company who provided false information , which is not properly verfied by auditor

Bank : Bank provided loan based on audited financial report .In case of non compliance of the auditing standards and code of conduct , lead to wrong financial information given to bank while sanctioning loan , it will be huge loss to bank and lead to entire collapse of the economy .

Auditing firm : Audit firm will be barred from auditing the entity for few month or year or permanently depends on severity of the case.