This document discusses ethics and governance for accountants. It defines ethics as moral principles guiding one's work behavior and governance as implementing an ethical code. It outlines five levels of governance from individual to organizational. It also describes accountants' ethical standards around integrity, objectivity, resolving conflicts, competence, confidentiality, tax practice, cross-border activities, and publicity. Specifically for public practice, it discusses independence and engagement periods. It concludes by noting some significant observations about potential ethical issues like an accountant compiling and auditing for the same cooperative.