Ethics is a branch of philosophy that studies the difference between right and wrong. As professional accountants, you have many opportunities to choose between right and wrong. As you have seen in the business press, making the wrong choice can lead to serious consequences including corporate failure, loss or reputation, fines and even prison sentences. In any situation, you must begin with the laws of your country. Next you look to the specific rules that govern the situation. For example, if you are an auditor, you will be bound by the relevant auditing standards in your jurisdiction.
Remember that professional ethics is all about your obligation to the public. As a professional – whether a doctor, lawyer, engineer or accountant – you will have been tested and accepted by your profession. The public places their trust in you simply because you are a member of a trusted professional body.
Learn about your ethical style with a nine-question quiz from the Center for Ethics and Business from Loyola Marymount Loyola University in Los Angeles. Nine Question Quiz.
ACCA Rule Book
The ACCA Rulebook contains the bye-laws, regulations and the Code of Ethics and Conduct with which members are required to comply. Read more online.
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