Final answer:
The five components of the IESBA Code of Ethics are professional competence and due care, confidentiality, objectivity, integrity, and professional behavior.
Step-by-step explanation:
- Professional competence and due care: This component requires that members of the IESBA (International Ethics Standards Board for Accountants) maintain professional knowledge and skills and perform their professional duties with due care.
- Confidentiality: Accountants must respect the privacy and confidentiality of the information they obtain in the course of their work, not disclose it without proper authorization, and use it only for legitimate purposes.
- Objectivity: Accountants must be impartial, unbiased, and independent when providing professional services.
- Integrity: Members of the IESBA must be straightforward and honest in all professional and business relationships. They must avoid conflicts of interest, refrain from engaging in any activities that would discredit the profession, and not knowingly misrepresent facts or omit material information.
- Professional behavior: This component covers a wide range of ethical behaviors, including complying with relevant laws and regulations, not engaging in any conduct that would bring the profession into disrepute, and refraining from any activity that might compromise their professional judgment.