Principles of Code of Ethics

Question 1

Principle 1: Duty of Loyalty to the Client

Answer 1

Placing the client’s interests first

requires:

i) the Certificant places the client’s interests ahead of their own and all other interests;

ii) The obligation to disclose conflicts of interest and to mitigate conflicts in the client’s favour;

iii) duty to act with the care, skill and diligence of a prudent professional.

Question 2

Principle 2: Integrity

Answer 2

A Certificant shall always act with integrity.

i)Integrity means rigorous adherence to the moral rules and duties imposed by honesty and justice.

ii)Integrity requires the Certificant to observe both the letter and the spirit of the Code of Ethics.

Question 3

Principle 3: Objectivity

Answer 3

A Certificant shall be objective when providing advice and/or services to clients.

Objectivity requires:

i) intellectual honesty, impartiality and the exercise of sound judgment, regardless of the services delivered or the capacity in which a Certificant functions.

Question 4

Principle 4: Competence

Answer 4

A Certificant shall develop and maintain the abilities, skills and knowledge necessary to competently provide professional advice and/or services.

Competence requires:
i)attaining and maintaining a high level of knowledge and skill, and ii)applying that knowledge effectively in providing professional advice and/or services, including to clients.

Question 5

Principle 5: Fairness

Answer 5

A Certificant shall be fair and open in all professional relationships.

Fairness requires:
i) providing clients with what they should reasonably expect from a professional relationship, and
ii)includes honesty and disclosure of all relevant facts, including conflicts of interest.