logo

Professional Ethics Assignment - HSBC company

13 Pages3952 Words236 Views
   

Added on  2020-12-10

Professional Ethics Assignment - HSBC company

   Added on 2020-12-10

ShareRelated Documents
Professional Ethics
Professional Ethics Assignment - HSBC company_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1: Fundamental principles of ethical behaviour.......................................................................11.2: Legal, regulatory and ethical requirements affect financial and accounting sector.............21.3: Role of Professional Bodies in Accounting and Finance sector..........................................21.4: Need for individuals, organisations or industrial sectors to operate within codes ofconduct and practice....................................................................................................................31.5: Explain the risks of improper practice to an organisation and the importance of vigilance31.6: Identify opportunities for maintaining an up-to-date knowledge of changes to codes ofpractice, regulation and legislation affecting the accounting and finance sector........................4TASK 2............................................................................................................................................42.1: Explain how to act ethically when working with clients, suppliers, colleagues and others42.2: Explain the importance of objectivity and maintaining a professional distance betweenprofessional duties and personal life at all times........................................................................42.3: Explain the importance of adhering to organisational and professional values, codes ofpractice and regulations...............................................................................................................52.4: Explain the importance of adhering to organisational policies for handling clients’ monies.....................................................................................................................................................52.5: Identify circumstances when confidential information should be disclosed and who isentitled to the information...........................................................................................................52.6: Explain the importance of working within the limits and confines of one’s ownprofessional experience, knowledge and expertise.....................................................................6TASK 3............................................................................................................................................63.1 Identify the relevant authorities and internal departments to which unethical behaviour,breaches of confidentiality, suspected illegal acts or other malpractice should be reported......63.2 Identify the appropriate action to take in instances when requests for work are beyond theemployee’s competence..............................................................................................................73.3 Identify inappropriate client behaviour and how to report it................................................7
Professional Ethics Assignment - HSBC company_2
3.4: Explain the internal and external reporting procedures which should be followed if anemployee suspects an employer, colleague or client has committed, or may commit, act whichis believed to be illegal or unethical............................................................................................73.5 Outline strategies that could be used to prevent ethical conflict..........................................8TASK 4............................................................................................................................................84.1: Explain the importance of an ethical approach to sustainability.........................................84.2: Outline the responsibilities of finance professionals in upholding the principles ofsustainability...............................................................................................................................8CONCLUSION................................................................................................................................9REFERENCES................................................................................................................................9
Professional Ethics Assignment - HSBC company_3
INTRODUCTIONProfessional ethics is defined as the principles that governs the behaviour and attitude ofpeople or group of people in business environment. It describes an act which is performed byemployees towards its co-workers as well as an organisation in dynamic environment. For this,the management is held liable to ensure that all the employees are working according to the rulesand guidelines implemented by Top authorities and Government of nation where the companyhas been operated. The present assignment report outlines the principles of ethical behaviour andits role while deal with internal as well as external customers. The project includes the correctiveactions that to be taken at the time of breaching of ethical codes along with the ethicalresponsibility of finance professional in promoting sustainability. HSBC, a UK based companywhich is engaged in providing banking and financial services at global level is taken as anexample to complete the present assignment report more effectively.TASK 11.1: Fundamental principles of ethical behaviourThere are mainly five fundamental principles of ethical behaviour according to the ICAScode of ethics which are listed as under:Integrity: It is an essential element which should be present in professionals in order to conductbusiness operations more smoothly. The managers of an organisation such as HSBC should bemore transparent, honest and straightforward towards its policies so that it makes easy foremployees to understand and follow while performing allotted task (Asgari, 2016).Objectivity: Professionals in organisations should be focused towards its target and continue tooperate business functions without facing any conflict with others or under external influence. Itmaximises the chances of achieving desired target within limited time period.Confidentiality: Such principle directs professionals to maintain the privacy of their confidentialinformation so that it would not be misuses by any other professional for their own purposes andbenefits. Professional competence and due care: Professionals in an organisation must have sufficientamount of skills and specialised knowledge in order to facilitate customers more effectively sothat their loyalty towards organisation can be retained successfully.1
Professional Ethics Assignment - HSBC company_4

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Professional Ethics - Assignment
|14
|4526
|301

Assignment: Professional Ethics
|13
|4377
|80

Professional Ethics- PDF
|15
|4000
|68

(PDF) Professional Ethics and Professional Conduct
|16
|5080
|117

Professional Ethics & Social Responsibilities : Assignment
|14
|4100
|434

Fundamental principles of ethical behaviour in the accounting and finance sector
|14
|4205
|235