Professional code of ethics – Principles

Behind a professional code of ethics, there are underpinning principles, the main ones being: 

– Integrity

– Objectivity

– Professional competence

–  Confidentiality, and

– Professional behaviour.

Fundamental ethical principles are obligations (or responsibilities) placed on members of a professional institute. 

– Principles apply to all members, whether or not they are in practice.

– The conceptual framework provides guidance on how the principles are applied.

– The framework also helps identify threats to compliance with the principles and then applies safeguards to eliminate or reduce those threats to acceptable levels.

– Five fundamental principles (taken from the ACCA code of conduct) are shown above.