Stevenage Accountant T: 0845 643 1825 | E: info@eebusiness.uk.com


admin's blog

Business ethics

CODES OF ETHICS

Typically, accountancy institutes have a code of ethics, to help guide the behaviour of their members. In recent years, the International Federation of Accountants (IFAC) has created an international code of ethics.

Students need to understand the arguments for and against having such codes, and be able to describe the fundamental principles typically included. Do we need a Code of Ethics?



Advantages

Ethical Financial Reporting

Ethics is a code of conduct that applies to everyday life. It addresses the question of whether actions are right or wrong. Actions—whether ethical or unethical, right or wrong—are the product of individual decisions. Thus, when an organization acts unethically by using false advertising, cheating customers, polluting the environment, or treating employees unfairly, it is not the organization that is responsible—it is the members of management and other employees who have made a conscious decision to act in this manner.