the essay should contain following matters: to evaluate the relationship between professional codes of ethics and auditor independence. to evaluate the threats and safeguards to independence. to critically evaluate how & why the auditing profession: defines defends & extends its jurisdiction idea of independence included in professional codes of ethics: internationally: international federation of accountants (ifac). europe: 8th european commission directive harmonise audit regulation in europe (8th ec /eu directive). uk: auditing practices board’s (apb’s) ethical standards. u.k. professional bodies’ code of ethics e.g. icaew’s code of ethics ifac code of ethics: http://www.ifac.org/members/downloads/2005_code_of_ethics.pdf fundamental principles see section 100.4: integrity objectivity professional competence and due care confidentiality professional behaviour threats and safeguards see section 100 threats: section 100.10: self-interest self-review advocacy familiarity intimidation safeguards: section 100.11 safeguards created by the profession, legislation or regulation safeguards in the work environment threats and safeguards to independence: section 290.13 to 290.23 identifying & evaluating safeguards and applying appropriate safeguards: section 290.24 to 290.34 factors affecting auditor independence economic dependence: provision of non-auditing services & fees received economic dependence: dependent on one or few clients for business social & power/political relations regulatory framework: self-regulation references should be use : ashbaugh, h. (2004) – ethical issues related to the provision of audit and non-audit services: evidence from academic research, journal of business ethics, 52, p. 143-148. ifac code of ethics: http://www.ifac.org/members/downloads/2005_code_of_ethics.pdf jeppesen, k. (1998) – reinventing auditing, redefining consulting and independence, the european accounting review, 7:3, p. 517-539. the auditing practices board (2006) – ethical standard for reporting accountants, october. http://www.frc.org.uk/apb/publications/pub1189.html Windmoller, R. (2000) – The auditor market and auditor independence, The European Accounting Review, 9:4, p.639-642. Woolf, E. (2005) – The best audit quality safe-quard: the fearless auditor, Accountancy Magazine, December, p. 25. Other Reference: Stevenson, J. (2002) – Auditor independence: A comparative descriptive study of the UK, France and Italy, International Journal of Auditing, 6: p. 155-182.