Ethics:

Ethics is the set of some moral values and principal that differentiate right and wrong morally.

Audit:

The audit is the process of checking the financial statements of a company `to ensure that it is 100% authentic and free from any kind of bias or fraud.

Code of ethics:

This includes some standard and rules that every auditor need to follow. This includes the following five codes:

1. Integrity: It is an obligation, to be honest, and professional.

2. Objectivity: It is the obligation to maintain the authenticity of financial statements. The financial statements need to be free from any kind of bias, manipulation, and error.

3. Professional competence and due care: The auditor needs to maintain the level of skills and knowledge required. The auditor must train the staff working with him.

4. Confidentiality: It is the responsibility of the auditor not to disclose inside information of the client to anyone without authority.

5. Professional behavior: It is the responsibility of the auditor to follow all the rules and regulations and not take any action which discredits the profession.

6. Auditors' independence: The auditor should be independent of its client because dependence can affect its decision or result.