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Rule 204 sets out the profession’s standards and the requirements Chartered Professional Accountants (CPAs) must uphold to maintain their independence in any audit and assurance engagement.
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As of November 2013, mark-up versions are available (see the final section on this page) to assist readers in identifying the amendments to Rule 204. The mark-up versions show the most recently approved changes as compared to the preceding harmonized version.
The extent to which Rule 204 is adopted by individual provincial bodies and CPA Bermuda is determined by those bodies.
While principles of Rule 204 have generally been adopted across Canada and Bermuda, there may be some specific differences in some jurisdictions. Please refer to the Code or Rules of Professional Conduct as adopted by each provincial body.
In Quebec, section 36.4 of the Code of Ethics of Chartered Professional Accountants refers to the independence standards provided for in Rule 204 of the CPA Code of Professional Conduct (Rule 204 on independence). This dynamic reference means that Rule 204 on independence, a rule of professional conduct, is an integral part of Quebec’s Code of Ethics of Chartered Professional Accountants, and applies to all members of the Order once adopted by CPA Canada’s Public Trust Committee (PTC).
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