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Professional Ethics Assignment : HSBC bank

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Added on  2020-12-18

Professional Ethics Assignment : HSBC bank

   Added on 2020-12-18

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Professional ethics
Professional Ethics Assignment : HSBC bank_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Fundamental principles of ethical behaviour........................................................................11.2 Legal, regulatory and ethical requirements affecting the accounting and finance sector.....21.3 Role of professional bodies in relation to the accounting and finance sector.......................21.4 Individuals, organisations or industry sectors are expected to operate.................................31.5 Risks of improper practice to organisation and importance of vigilance..............................31.6 Opportunities for maintaining an up-to-date knowledge of changes....................................3TASK 2............................................................................................................................................42.1 Act ethically when working with clients, suppliers, colleagues and others.........................42.2 Importance of objectivity and maintaining professional distance between professionalduties and personal life................................................................................................................42.3 Importance of adhering to organisational and professional values, codes of practice andregulations...................................................................................................................................52.4 Importance of adhering to organisational policies for handling clients’ monies..................52.5 Circumstances when confidential information should be disclosed.....................................52.6 Importance of working within the limits and confines of one’s own professionalexperience...................................................................................................................................6TASK 3............................................................................................................................................63.1 Relevant authorities and internal departments to which unethical behaviour, breaches ofconfidentiality.............................................................................................................................63.2 Action to take in instances when requests for work.............................................................73.3 Inappropriate client behaviour and how to report it..............................................................73.4 Internal and external reporting procedures..........................................................................73.5 Strategies that could be used to prevent ethical conflict.......................................................8TASK 4............................................................................................................................................84.1 Importance of an ethical approach to sustainability..............................................................84.2 Responsibilities of finance professionals in upholding the principles of sustainability.......8CONCLUSION................................................................................................................................9
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REFERENCES..............................................................................................................................10.......................................................................................................................................................11
Professional Ethics Assignment : HSBC bank_3
INTRODUCTIONProfessional ethics refers to principles that helps in govern behaviour of a group or anindividual in business environment. It provides rules how an individual should act towards theother institutions and people.. Under this, professional ethics encompasses corporate andpersonal standards of behaviour that expected through professionals. This present report is basedon the HSBC bank. It provides the financial and baking services to people and firms. Thismention report will be discussing about the role of professional bodies in context to finance andaccounting sector (Banks, 2012). There will be discussion about the importance of adhering toprofessional and organisational code of practice, values and regulations. Internal departmentsand authorities to which an unethical behaviour will be discussed in a detailed manner.TASK 11.1 Fundamental principles of ethical behaviourEthics refers to principles, values, norms, rules which need to be followed at the time ofconducting any activity. Ethical behaviour can be good for the business and it consists respect formoral principles that consist fairness, dignity, individual rights etc. There are some principles ofethical behaviour mention below:Integrity- It imposes obligation on professional accounts to be honest as well asstraightforward in all the business and professional relationships. It is implying the truthfulnessand the fair dealing.Objectivity- This principle imposes obligation on all the professionals that not to becompromise professional judgement due conflict of interest, bias etc. Technical and Professional competence and due care- To maintain the professionalskill and knowledge at necessary level to assure that employer or consumer gain the competentprofessional services which are based on the present developments in legislation and practice. Confidentiality- This principle is not only related to keeping information confidential buttake all the steps for preserving the confidentiality (Behnke, 2012). The confidential of theinformation is based on its nature. The confidential behaviour provides benefits to companybecause cleinet start to trust on it. Professional behaviour- It imposes obligation in professionals to comply with therelevant regulation and also avoid by action that they know may be discredit profession. 1
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