a. The professional standards of public accountants.
The Orcom group’s working methods are based on the professional standards of public accountants and auditors, as well as quality standards. Public accountants are voluntarily bound by a set of professional regulations: standards. These came into force on 1 January 1993 and were updated in 2001, although the profession did have member recommendations in place since 1976. The standards were introduced in response to a dual mission: to guarantee to clients the quality of services provided by public accountants and to raise the public profile of their professional competence.
Whether they are general standards applying to all public accounting duties or more specific and applying only to certain tasks, the body ensures that they respected by members by way of quality control. Founded in 1991, this is obligatory for all public accountants. In 2000, the Orcom group obtained the ISO 9001 certification (Afaq quality certification) which extends beyond the professional standards. This is relatively rare among firms.
b. The professional standards of auditors.
Auditors are also subject to professional standards and a set of ethics. Legal and regulatory texts allow auditors to carry out missions with the aim of promoting the security of financial situations by providing an impartial conclusion, based on tasks executed in line with the regulations of the profession. The main principles of conduct for auditors, and the legal control of accounts under European terminology are based on six factors: integrity, objectivity, competence, independence, professional secrecy and respect of professional regulations.
1. Integrity: auditors must demonstrate intellectual honesty and legality in the execution of their tasks. They also refrain from any actions contravening this integrity and honour, even outside professional activity.
2. Objectivity: auditors undertake to maintain an impartial attitude throughout all tasks, without prejudice, bias, external influences or conflicts of interest, and with a professional approach enabling objective conclusions.
3. Competence: competence is assured by qualifications, professional training and regularly verified though examinations. The demand for competence requires a level of theoretical and practical knowledge and their appropriate application in each task.
4. Independence: the nature of general interest attached to the profession means that auditors must be independent. This independence is manifested in the attitude expressing integrity, objectivity and competence, and through irreproachable conduct.
5. Professional secrecy: auditors are bound by professional secrecy for all facts, files and information revealed to them under their roles. Unless otherwise stated in law or regulations, auditors may not communicate any information on the company they are auditing to any person, even if that person is also contracted by the company.
6. Respect for professional regulation: auditors carry out their tasks in accordance with the professional regulations stipulated by the national council of auditors.
Team work
The quality control system is focussed on the client. Schedules are organised in such a way as to provide all skills available within our group of professionals to a client or task within an optimum period. Quality of relations with the client company contact is one of our primary values and is not possible without personal commitment from our representatives – the associates in charge of the case and the team. This value covers availability, independence and the guarantee of team work from all Orcom employees.
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