What ethical principle prohibits auditors from allowing conflicts of interest?

The ethical principle that prohibits auditors from allowing conflicts of interest is integrity. Integrity in the context of auditing emphasizes the importance of honesty and being straightforward in the professional and business relationships of auditors. When auditors maintain their integrity, they ensure that their judgment is not compromised by personal interests or relationships that could undermine the trust placed in their professional work.

Auditors who adhere to this principle prioritize the public interest, the needs of clients, and the profession's requirement for ethical conduct over any potential gains from conflicts of interest. This helps maintain and enhance the profession's reputation and trustworthiness, which is crucial for effective auditing practices and decision-making.

In contrast to integrity, confidentiality relates to the obligation of auditors to protect private information obtained during the course of their work. Objectivity involves making decisions based solely on facts and evidence, while professional behavior covers a broader scope of compliance with applicable laws and regulations as well as the avoidance of actions that may discredit the profession. While these principles are also important, integrity is specifically focused on the need to avoid conflicts of interest in order to ensure impartiality and fairness in audit practices.