Professional Ethics- PDF
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Added on 2020-10-22
Professional Ethics- PDF
Added on 2020-10-22
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Professional Ethics
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Fundamental principles of ethical behaviour........................................................................11.2 Relevant legal, regulatory and ethical requirements affecting the accounting and financesector...........................................................................................................................................21.3 Role of professional bodies in accounting and finance sector..............................................21.4 Evaluate individuals, organisations or industry sectors are expected to operate withincodes of conduct and practice.....................................................................................................21.5 Risks of improper practice and the importance of vigilance.................................................31.6 Identify opportunities for maintaining an up-to-date knowledge of changes to codes ofpractice, regulation and legislation affecting the accounting and finance sector........................3TASK 2............................................................................................................................................42.1 Explain how to act ethically when working with clients, suppliers, colleagues and others..42.2 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......6
3.2 Identify the appropriate action to take in instances when requests for work are beyond theemployee’s competence..............................................................................................................63.3 Identify inappropriate client behaviour and how to report it................................................73.4 Explain the internal and external reporting procedures which should be followed if anemployee suspects an employer, colleague or client has committed, or may commit, an actwhich is believed to be illegal or unethical.................................................................................73.5 Outline strategies that could be used to prevent ethical conflict...........................................7TASK 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..............................................................................................................................10.......................................................................................................................................................11
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