ACCY130 test Flashcards
Define ethics
Study & evaluation of human conduct in the light of moral principles
Define integrity
A person who behaves to a certain level of values
Types of ethics
Ethics of individuals, cultural groups, organisational ethics, professional ethics, ethics of stakeholders
What is ethics in relation to integrity
Ethics is the foundation for integrity
Moral values
Qualities that are appreciated for contributing to what is good e.g. honesty
3 Major theories of ethics
Virtue, deontological, consequentialism
Define virtue ethics
Intention of the person
Define deontological ethics
Doesn’t matter the intention did they follow the rules
Define consequentialism ethics
Relates to the consequences of the actions - regardless of intention or rules
What are the codes of ethics (5)
- Integrity
- Objectivity
- Confidentiality
- Professional behaviour
- Professional competence & due care
Define integrity in relation to code of ethics
Member are obligated to be straightforwards & honest in all professional & business relationships
Define Objectivity in relation to code of ethics
Judgement should not be compromised because of bias, or conflict or interest with the undue influence of others
Define Confiedntiality in relation to code of ethics
Refraining from disclosing confidential information without proper authority & not using confidential information for personal use/advantage
What is the exception to the rule of confidentiality in relation to code of ethics
Where there is a legal/professional right or duty to disclose
Define Professional behaviour in relation to code of ethics
Complying with relevant laws & regulations, avoid actions that may discredit the profession - being honest & truthful about services
