Professional Ethics & Social Responsibilities : Assignment
14 Pages4100 Words434 Views
Added on 2021-01-01
Professional Ethics & Social Responsibilities : Assignment
Added on 2021-01-01
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PROFESSIONALETHICS1
Table of ContentsINTRODUCTION...........................................................................................................................2TASK 1............................................................................................................................................31.1 Fundamental principles of ethical behaviour...................................................................31.2 Legal, regulatory and ethical requirements affecting the accounting and finance sector41.3 Role of professional bodies in accounts and finance sector.............................................41.4 Reason behind individuals, organisations or industry sectors expected to adhere to code ofconduct and practice...............................................................................................................51.5 Risks of improper practice to enterprise and importance of vigilance.............................51.6 Maintaining up-to-date knowledge of changes to code of practice, regulations andlegislation within accounts and finance sector.......................................................................6TASK 2............................................................................................................................................62.1 Acting ethically while working with clients, suppliers, colleagues and others................62.2 Importance of objectivity and maintaining professional distance between professionalduties and personal life...........................................................................................................72.3 Importance of adhering to organisational and professional values, codes of practice andregulations..............................................................................................................................72.4 Importance of complying with organisational policies for handling clients’ money.......72.5 Circumstances when confidential information should be disclosed and users ofinformation.............................................................................................................................82.6 Importance of working within limits and confines of one’s own professional experience,knowledge and expertise........................................................................................................8TASK 3............................................................................................................................................93.1 Relevant authorities and internal departments to which unethical behaviour, breaches ofconfidentiality, suspected illegal acts or other malpractice should be reported.....................93.2 Appropriate action taken when requests for work are beyond employee’s competence.93.3 Inappropriate client behaviour and how to report it.........................................................92
3.4 Internal and external reporting procedures if an employee suspects employer, colleague orclient has committed or may commit illegal or unethical act...............................................103.5 Strategies to prevent ethical conflicts.............................................................................10TASK 4..........................................................................................................................................104.1 Importance of ethical approach to sustainability............................................................104.2 Responsibilities of finance professionals in upholding principles of sustainability.......11CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................133
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