What is the purpose of the code of ethics?
A code of ethics is usually established by a professional order as a way to protect the public and the reputation of the professionals. Indeed, people who breach their code of ethics incur disciplinary actions that can range from a warning or reprimand to dismissal or expulsion from their professional order.
The revised Code establishes a conceptual framework for all professional accountants to ensure compliance with the five fundamental principles of ethics:
- Professional Competence and Due Care.
- Professional Behavior.
- There are seven principles that form the content grounds of our teaching framework:
- Health maximisation.
- Respect for autonomy.
- A code of ethics document may outline the mission and values of the business or organization, how professionals are supposed to approach problems, the ethical principles based on the organization's core values and the standards to which the professional is held.
- These five basic principles form the foundation of modern accounting practices.
- The Revenue Principle. Image via Flickr by LendingMemo.
- The Expense Principle.
- The Matching Principle.
- The Cost Principle.
- The Objectivity Principle.
Professional ethics is defined as the personal and corporate rules that govern behavior within the context of a particular profession. An example of professional ethics is the American Bar Association's set of ethical rules that govern an attorney's moral obligations. YourDictionary definition and usage example.
- Personal ethics refers to the ethics that a person identifies with in respect to people and situations that they deal with in everyday life. Professional ethics refers to the ethics that a person must adhere to in respect of their interactions and business dealings in their professional life.
- Professional Etiquette in the Workplace. Professional etiquette is an unwritten code of conduct regarding the interactions among the members in a business setting. When proper professional etiquette is used, all involved are able to feel more comfortable, and things tend to flow more smoothly.
- Acting in ways consistent with what society and individuals typically think are good values. Ethical behavior tends to be good for business and involves demonstrating respect for key moral principles that include honesty, fairness, equality, dignity, diversity and individual rights.
A well-written code of conduct clarifies an organization's mission, values and principles, linking them with standards of professional conduct. It can also serve as a valuable reference, helping employees locate relevant documents, services and other resources related to ethics within the organization.
- a) This Code of Professional Ethics (hereinafter called the "Code") lays down the standards of integrity, professionalism and confidentiality which all members of the Association shall be bound to respect in their work as conference interpreters.
- A code of ethics issued by a business is a particular kind of policy statement. A properly framed code is, in effect, a form of legislation within the company binding on its employees, with specific sanctions for violation of the code.
- American Nurses Association Code of Ethics for Nurses. Provision 1 The nurse practices with compassion and respect for the inherent dignity, worth, and unique attributes of every person. Provision 2. The nurse's primary commitment is to the patient, whether an individual, family, group, community, or population.
Updated: 21st October 2019