1. The Government Accountability Office (GAO)

1.1. Ethical principles

• Serving the Public Interest: The public interest is defined as the collective well-being of the community of people and entities served by the auditor.

• Integrity: Integrity includes auditors conducting their work with an attitude that is objective, fact-based, nonpartisan, and nonideological with regard to the audited entities and users of the auditors' reports.

• Objectivity: Objectivity includes independence of mind and appearance when providing audits, maintaining an attitude of impartiality, having intellectual honesty, and being free of conflicts of interest.

• Proper Use of Government Information, Resources, and Positions: The auditor is to use government information, resources, and positions for official purposes and not inappropriately for the auditor's personal gain.

• Professional Behavior: Professional behavior includes an auditor's honest effort in the performance of professiona l services in accordance with the relevant technical and professional standards. The auditor must avoid any conduct that might bring discredit to the auditor's work, including actions that would cause an objective third party to conclude that the auditor's work was professionally deficient.

2. GAGAS conceptual framework for independence

Similar to the AICPA Code of Conduct, GAGAS independence guidance includes a conceptual framework for making independence determinations. The conceptual framework requires that the auditor:

1. identify threats to independence;

2. evaluate the significance of the threats identified, both individually and in the aggregate; and

3. apply safeguards as necessary to eliminate the threats or reduce them to an acceptable level.

If no safeguards are available to eliminate an unacceptable threat or reduce it to an acceptable level, independence would be considered to be impaired.

3. Department of Labor (DOL)

The U.S. Department of Labor (DOL) has established guidelines for determining when a qualified public accountant is independent for the purpose of rendering an opinion on an employee benefit plan under the Employee Retirement Income Security Act of 1974 (ERISA).