Independence

1. Ethics.

Thinking and acting without the influence of others.

Independence is one of the fundamental principles of the ACT's Ethical Code, namely independence in making professional judgements and in giving opinions and statements.

2. Statistics.

In statistics, two events are independent if the outcome of one of the events has no effect on the probability of the outcome of the other.

For example, the outcomes of two successive flips of a fair coin.

See also

• ACT Competency Framework
• ACT Ethical Code
• Central bank independence
• Conflict of interest
• Independent events
• Senior independent director
• Statistics
• Third party