Ethics and Business Conduct Flashcards
1
Q
What are the principles included in the PwC Code of Conduct?
A
- Build trust in how we do business
- Build trust with each other
- Build trust in our communities
- Build trust in how we use information
2
Q
Why is ethical behaviour important to our profession?
A
It is the manner in which we establish trust with our clients.
3
Q
What are the consequences of acting unethically?
A
- Disciplinary Action
- Fines
- Litigation
4
Q
What are the Five Fundamental Principles included in the ICAEW Code of Ethics?
A
- Integrity
- Objectivity
- Professional Competence and Due Care
- Confidentiality
- Professional Behaviour
5
Q
What is the RADAR Framework?
A
- R: Recognising the event
- A: Assessing the situation
- D: Deciding what to do
- A: Agreeing a way forward
- R: Reporting and Communicating
6
Q
What is the RADAR Framework used for?
A
It is used alongside the IFAC and ICAEW as well as PwC Code of Conduct when making any ethical decisions.
7
Q
Where can you go if faced with ethical dilemmas?
A
- Senior Team Members
- Career/Talent Coach
- Engagement Leader
- PwC Independence Team
- ICAEW Helpine
8
Q
What are the institutes involved in setting ethical codes?
A
- International Federation of Accountants (IFAC)
- Institute of Chartered Accountants in England and Wales (ICAEW)
- Financial Reporting Council (FRC)
- International Accounting Standards Board (IASB)
- Ethical Standard (ES)
