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By the end of this session you should be able to:

  • explain the nature of ethics and its application to society, business and the accountancy profession
  • apply the values and attitudes that provide professional accountants with a commitment to act in the public interest and with social responsibility
  • explain the need for a framework of laws, regulations and standards in business and their application and why CIMA and IFAC each have ethical codes
  • distinguish between detailed rules-based and framework/principles approaches to ethics
  • identify the ethical issues significant to organisations and how CIMA partners with strategic bodies to assist it’s members with ethical tensions/synergies
  • describe how personal and organisational policies and values promote behaviour
  • explain the need to develop the virtues of reliability, responsibility, timeliness, courtesy and respect
  • explain the fundamental ethical principles
  • identify concepts of independence, scepticism, accountability and social responsibility
  • illustrate the threats and safeguards to the fundamental ethical principles

and answer questions relating to these areas.