Examining Corruption: Professional Standards and Business Ethics

This report examines the ethical challenge of corruption in the global business environment, focusing on the role of codes of conduct and professional bodies in addressing this issue. It defines corruption, explores the impact of fraudulent activities on stakeholders and employee morale, and dis...Read More

Preparing for a
professional career

Table of Contents
INTRODUCTION ..........................................................................................................................3
PART A- REPORT .........................................................................................................................3
Defining issue or challenge ........................................................................................................3
Codes of conduct that can assist in resolving the practice of corruption....................................4
Support from the relevant Professional Bodies ..........................................................................4
Impacts that code of conducts and assisting bodies have from the view of business
communities................................................................................................................................5
PART-B ..........................................................................................................................................6
CPD PLAN .....................................................................................................................................6
CONCLUSION ..............................................................................................................................7
REFRENCES...................................................................................................................................9

INTRODUCTION
The following report is going to discus about the one ethical issue and the challenge
which are face during these days in the global business environment (Fletcher Jr, Warren and
Hernández-Gantes, 2018). This report is going to covers the brief description of the code of
conducts and how these can be implemented to address the issue . Along with this, this report
also focus on the impact of these code of conduct and how they can improve the situation.
Afterwards, this report also discuss about the relevant professional bodies which give proper
solution for the given issue. In addition,this also assess the impact of code of conduct and
professional bodies for providing solutions.
PART A- REPORT
Defining issue or challenge
In the today's era different types of contemporary issues as well as challenges are faced
by the global business environment. One of the most crucial which is being addressed in the
business environment is the “Corruption”. This is basically a unethical activity which are
conducted by the those people who are in power or possess the power in their position. For
example like, manager and the government officials take the advantage of their position as well
as superiority and exploit the different persons. Corruption is basically a misleading act of taking
as well as giving the bribes, inappropriate gifts, money laundering and many more. Individuals
who are posted at a very higher position in the government or business majorly do these types of
activities. Corruption is highly exercise because of the different types of factors such as size and
structure of the government, ineffective political system, salaries of the civil workers and many
other determinants (Broms and de Fine Licht, 2019). If this activity is detected then this not only
affect the confidence of the individual but also affect the trust of the stakeholders. The chances
of loss has been increases for the owner of business if this misleading activity are practices
within the organisation. The activity of corruption not only affect the behaviour of the individual
in or employees in negative manner but also reduced their productivity of doing the hard work.
The feeling of insecurity and dishonesty has been developed within the company employees who
are exploited by the powerful superiors. Different types of efforts has been made by the
management of the business organisation in order to eliminate the practice of corruption through
implementing the laws and other regulations. In order to eradicate the issue, effective policies are

developed by the company management which comprises of different types of policies in
relation to the corruption and fraud which assist the firm to take take the precautionary measures
against corruption.
Codes of conduct that can assist in resolving the practice of corruption
Code of conduct are basically the different set of principle as well as the rules which impose
various expectation and standards on the employees behaviour in order to make sure that
disciplinary actions are undertaken by them within the organisation. The implementation of the
code of conduct on the misleading practices of corruption is needed as it assist in controlling
these fraudulent activities (Caiden, 2019). The development of the anti-corruption committee
paid focus on determining those activities which are not acceptable and also work on their
consequences. The management of the business organisation must have to clearly communicate
that no one have to offer or take any kind of money, expensive gifts, donations and many other
benefits to attain the personal or inappropriate advantage. For the purpose of risk assessment
internal measures plays a very important role. Anti corruption programme are also conducted by
the company in order to analyse the different measures to monitor the corruption. The top level
manager of the organisation must have to be abide by the anti-bribery or anti corruption legal
structure in order to eliminate the fraudulent activities. In addition to this the compliance of the
workforce with the company code of conduct as well as policies is very significant. The
employees must have a fear in their mind theta if they do any false activity in within the
company then they are liable to to pay penalties, punishments and suspension. Along with this,
company also have to paid continuous focus on the policies and frameworks and made regular
changes in them as per the fraudulent practices (Lu and et. al., 2019).
Support from the relevant Professional Bodies
The increase in the activity of corruption within the global business environment is a very
serious matter so, business organisation need to paid focus on this and the take the immediate
action. There are different types of professional bodies which support to eliminate these types of
activities from which some of them discussed below: -
 Crown Prosecution Service (CPS): - The crown prosecution service is basically a
public agency whose main work is to conduct and investigate the criminal prosecution

and assist in combating international corruption (Andon and Clune, 2021). During
investigation, this legal agency provide the legal advices. Decision are also made by this
agency in relation to the investigation like whether the individual will have to bear the
criminal charges for their offence or not.
 The serious fraud office (SFO): - The Serious Fraud Office is basically a non
ministerial government body who paid focus on the investigating fraudulent activities and
practice of corruption. The SFO is the main enforcer of the Bribery act 2010, which is
designed in order to maintained the corporate the corporate governance. With the help of
this good reputation of the London city is maintained along with the secure environment
of doing the business.
 The International Anti-Corruption Coordination Centre (IACCC): this is basically a
body of various specialist officer from the different agencies which is designed to
effectively handle the issue of corruption (Adelopo and Meier, 2022). They are
responsible to inform, assist, collect, coordinate and collaborate to give assistance to the
companies in relation to the fraudulent activity.
Impacts that code of conducts and assisting bodies have from the view of business
communities
An area of communication of ethics and principle is covered by the code of conduct in
relation to the practices of corruption which make sure the security of the employees against any
fraudulent activity. This assist the corporate culture and allow them to communicate and follow
the different set of policies in order avoid the offence. On the other hand failure in following of
code of conduct result in major legal and financial consequences which may have a huge
negative impact on the image of the group for a long period of time. The government bodies
assist in controlling the corruption which are faced by the organisation. A sense of guidance is
generated by these professional bodies within the company. Necessary advices in relation to
handle those individuals who are engaged in the illegal or the corruption activities is given by the
anti corruption bodies. Investigation of any dishonesty activity like bribery or any inappropriate
gift is done by these associations. If the firm found guilty, then they have to face the negative
impact or serious consequences, which result in ruin the image of the company.

PART-B
CPD PLAN
Continuing professional development plan or the CPD plan is designed to improve the learning
which assist in obtaining the information to enhance the career. With the help of this different
types of opportunities are identified which are essential for the understanding the career
objectives. The most important aspect of the CPD plan is that this assist in evaluating and
analysing the result of learning to make sure the enhancement of skills.
What do I want
to learn?
What will I do to achieve this? What resources or support will
I need?
Research skills
Research skill may be defined as the
procedure of obtaining the data relevant to
the topic and carry out the deep study in
relation to the specific topic. Different
types of factors are comprises under
conducting a research which assist in
gaining and increasing the knowledge on a
specific subject (Filipe, Golnik and Mack,
2018). In starting first of all I will identify
the correct sources of research and after
this arranged the data which is acquire
from these sources. Important and relevant
info is selected by me along with the
different books.
 Books and journals
 Articles
Analytical skills This skill is basically the ability bifurcate
the content into small segments in order to
obtain the summary and with the help of
 Books and magazines
 Mathematics Exercises
 Analytical Apps

this conclusion is developed. This
comprises of different types of areas such
as logical reasoning, critical thinking, data
analysis and many more. In order to
improve this focus has been paid by me
on reading books and articles in constant
manner and solve the logical questions on
regular basis (Sahagun, Matriano and
Bueno, 2019). In addition to this, I also
manage my self in the mathematical
problems to improve my reasoning ability.
 Google
Writing skills Innovation in writing is an art of
explaining the views and the ideas in a
creative way which also includes detailed
presentation of ideas. I will now
concentrate on improving my writing
skills through regular reading and journal
writing. Expressing through writing is
considered most innovative method for
that I will try to learn the style of writings
of various writers.
 Novels and journals
 Dictionary
CONCLUSION
This report includes the points like how global business environment is facing problems
which includes the participation of different professionals in major actions of corruption. From
this report, it has been seen that how upper level bodies and powerful individuals are taking
unfair benefit of their power. They are going against the morals and practises of corporate
environment. This is also examined that deceptive methods of corruption creates feeling of doubt
and insecurity within the business. This report also describes different plans and actions of

governing bodies which help them in dominating corruption with their affects on various
communities. The CPD plan has also been concluded in this report.

REFRENCES
Books and Journals
Fletcher Jr, E.C., Warren, N.Q. and Hernández-Gantes, V.M., 2018. Preparing high school
students for a changing world: College, career, and future ready learners. Career and
Technical Education Research, 43(1), pp.77-97.
Broms, R. and de Fine Licht, J., 2019. Preparing political science students for a non-academic
career: Experiences from a novel course module. Politics, 39(4), pp.514-526.
Caiden, G.E., 2019. Dealing with administrative corruption. In Handbook of administrative
ethics (pp. 429-455). Routledge.
Lu, J and et. al., 2019. Corporate social responsibility and corruption: Implications for the
sustainable energy sector. Sustainability, 11(15), p.4128.
Andon, P. and Clune, C., 2021. Governance of professional accounting bodies: a comparative
analysis. Accounting, Auditing & Accountability Journal.
Adelopo, I. and Meier, F., 2022. UK professional accounting bodies (PAB): Members’ unethical
behaviors and exclusion. Journal of Corporate Accounting & Finance.
Filipe, H.P., Golnik, K.C. and Mack, H.G., 2018. CPD? What happened to CME? CME and
beyond. Medical Teacher, 40(9), pp.914-916.
Sahagun, J.A.P., Matriano, E.A. and Bueno, D.C., 2019. Impacts of Continuing Professional
Development (CPD) Activities among Elementary School Teachers. IMRaD Journal, a
Peer-Reviewed and Refereed Institutional Multidisciplinary Research and Development
Journal, 2.