Code Of Ethics

Question 1

Why are ethics important?

Answer 1

Accountants should perform their work properly. Ethics describe “how” an entity does its business, not what it does. An accountant can be disciplined by CIMA for a breach of ethics and it could affect the business financial viability

Question 2

What are the five fundamental principles of CIMAs code of ethics?

Answer 2

P - professional competence and due care

O - objectivity

P - professional behaviour

I - integrity

C - confidentiality