Accountancy is one of the most respected professions in the world and adhering to a code of ethics is fundamental to the act of being an accountant. As such, ethics and accountancy should be two indivisible aspects. ACCA works hard with its members to ensure the highest standards of practice and ethical conduct are adopted.
Ethical conduct has been a hot topic for some time now. With particular focus on the importance of investor and public confidence, ethical practice is key to improving the image of big business and therefore achieving sustained economic growth in the process.
The aftermath of various high-profile corporate failures - Enron, Parmalat and WorldCom, to name but a few - have served further to highlight the need for commitment to an ethical 'culture' designed to permeate through an organisation, from top to bottom.
Code of Conduct
All professional bodies require their members to abide by a Code of Conduct. ACCA recognises the IFAC Code of Ethics as the global standard and has firmly aligned its current Code of Ethics and Conduct with it in order to allow ACCA to meet its obligations as a member body of IFAC and promote international harmonisation which better serves the wider public interest.
The ACCA Rulebook contains the bye-laws, regulations and the Code of Ethics and Conduct with which members are required to comply. Members can access this by visiting the ACCA Rulebook online - please see the link under 'see also'.
Learn about ethics and earn CPD units
When making your annual CPD return, all ACCA members are required to sign a declaration stating that they are keeping their knowledge of ethics up to date. A commitment to an ethical approach is not just a requirement of ACCA Realise. Good conduct is good for business too - making the right decision can be beneficial to you, your clients, your colleagues and your organisation.
ACCA's global website - accaglobal.com - has an entire section dedicated to professional ethics. Designed specifically for ACCA members, the online resource provides guidance and advice on how to approach and resolve any ethical challenges you may face in the workplace. Not only can you learn more about ethical issues - you can also earn CPD units while you do it.
ACCA's ethics resource offers a broad range of learning opportunities and activities, including:
- online courses and podcasts - offering learning beyond the constraints of time and place
- case studies descriptions of ethical events at a range of organisations, featuring questions for discussion
- ACCA's perspective on corporate social responsibility
- ethics in the news
- useful articles about ethics
- solutions to ethical problems.
For further information on ethical issues, click on the link below: