Code of Ethics

APPROVED
by the Expert Council of the International Association of Financiers, Accountants and Lawyers (Skillary)
Yerevan, March 4, 2022

TABLE OF CONTENTS

General Provisions

This Code of Corporate Ethics of the International Association of Financiers, Accountants and Lawyers (Skillary) (hereinafter referred to as the Code and the Association) defines the objectives, tasks, principles, and ethical standards that guide the Association in its professional activities.

Compliance with the provisions of this Code serves as a guarantee of the Association's reliability and adherence to best practices.

The provisions of this Code are developed in line with international standards in the fields of finance and law, as well as with due consideration of national and international practices of corporate conduct and ethical norms.

This Code applies to all members of the Association, regardless of their position, professional activity, or location.

All internal documents of the Association are developed and approved in accordance with this Code.

Key Definitions

Ethical Standards – an established system of rules of conduct and business practices that shape positive expectations regarding participants in corporate relations.

Corporate Conduct – the set of actions related to the governance of the Association that influence the outcomes of its activities. The introduction of corporate conduct standards contributes to the improvement of management practices.

Principles of Corporate Conduct – the fundamental guidelines that determine the formation and development of the Association's system of corporate governance.

Members of the Association – individuals admitted to the Association in accordance with its Charter and membership requirements.

Governing Bodies of the Association – the Association Council, the President of the Association, and the Expert Council.

Conflict of Interest – a conflict between the interests of the Association and the personal interests of its members, including those in favor of third parties, arising from business, personal, family, or other relationships, as well as from ownership of shares or interests in other organizations.

Gift – the transfer of material or intangible value (including certificates, services, or property rights) without compensation.

Objectives and Tasks of the Code

Objectives:

  • To establish binding rules, standards, and principles of corporate conduct in order to enhance the effectiveness of the Association and advance its mission;
  • To foster a sustainable corporate culture and shared values;
  • To reinforce key principles aimed at preventing conflicts of interest;
  • To strengthen trust in the Association and its reputation as a transparent and reliable partner.

Tasks:

  • To define the foundations for interaction between the Association, its members, business partners, and government authorities.
  • To protect the interests of members and partners while fostering the development of a professional community.
  • To identify and prevent potential conflicts of interest.
  • To orient members toward corporate values and the continuous improvement of corporate culture.
  • To ensure the practical application of ethical standards in day-to-day activities.

CORE PRINCIPLES OF CORPORATE CONDUCT

Integrity and Mutual Respect

The Association builds its relationships with members, partners, and government authorities on the principles of honesty and respect.

Transparency and Trust

The Association strives for openness and transparency while safeguarding confidentiality where required.

Objectivity

Members of the Association must avoid bias, favoritism, and personal interests in their professional activities.

Legality and Accountability

The Association operates in compliance with international standards and national legislation.

Professionalism

Members of the Association are required to uphold the highest professional standards.

Quality of Interaction

The Association seeks long-term cooperation and avoids unfair or unethical practices.

Security

The Association takes proactive measures to prevent unlawful actions against itself and its members.

RELATIONSHIPS WITH BUSINESS PARTNERS AND GOVERNMENT AUTHORITIES

In its interactions with partners and government authorities, the Association is committed to:

  • Building relationships based on trust, honesty, and respect;
  • Strictly adhering to contractual obligations;
  • Refraining from actions that could damage the reputation of other organizations;
  • Giving priority to negotiations and compromise in the event of disputes.

The acceptance or offering of gifts or services intended to influence decision-making is strictly prohibited.

The Association complies with legislation on anti-money laundering and counter-terrorist financing and cooperates exclusively with reliable partners.

RELATIONSHIPS WITH MEMBERS OF THE ASSOCIATION

The Association builds its relationships with members on the principles of respect and mutual obligations, and excludes any form of discrimination.

The Association respects the privacy of its members and takes measures to ensure safety and healthy working conditions.

Members of the Association are obliged to:

  • Uphold the reputation of the Association;
  • Act honestly and fairly;
  • Ensure the confidentiality of information;
  • Refrain from entering into commercial relationships that conflict with the interests of the Association;
  • Follow the approved strategy and decisions of the governing bodies.

STANDARDS AND RULES OF CONDUCT

Each member of the Association must responsibly fulfill their duties, striving for effective solutions and cooperation.

The Association promotes a healthy lifestyle and discipline, and values honesty, professionalism, teamwork, and innovation.

PREVENTION OF CONFLICTS OF INTEREST

The Association and its members must avoid situations of conflict of interest and adhere to the Conflict of Interest Resolution Policy.

ACCOUNTABILITY

Violation of this Code may result in disciplinary measures, including a warning or expulsion from the Association. Decisions are made by the President or the Council of the Association in accordance with applicable law.

No member shall be subject to retaliation for adhering to ethical standards.

FINAL PROVISIONS

Each member is required to acknowledge this Code by signature or through the electronic document management system.

Amendments and additions to the Code shall be approved by the Council of the Association in the prescribed manner.