Ethics

You can keep your ethics knowledge up to date with our links to the Code of Ethics, IBE briefings and videos, CCAB and IFAC codes, case studies and guides.

Code of Ethics

The Code of Ethics (effective from 1 Jaunary 2023) helps members, students, affiliates and firms meet their professional obligations by providing them with an ethical framework.

With effect from 1 January 2023, the IFA has adopted the Code of Ethics for Professional Accountants of the International Ethics Standards Board for Accountants (IESBA) published by the International Federation of Accountants (IFAC).

The Code sets out five fundamental principles, which guide members’ behaviour:

1. Integrity
2. Objectivity
3. Professional competence and due care
4. Confidentiality
5. Professional behaviour.

Members, firms, affiliates and students must assess any threats to compliance with those principles and implement appropriate safeguards where those threats are not insignificant.

The Code of Ethics includes a number of sections covering situations that members, etc are likely to encounter and suggests, or in some cases, requires, specific courses of action.

IFAC ethics education toolkit videos

The IFAC Ethics Education Toolkit videos help educate and train business and professional people at all levels.

The ethics education toolkit can assist in the development of skills to identify, manage and decide what course of action should be taken.

The five scenarios illustrated in the video programme demonstrate the use of an ethical decision-making model that assists in developing learners’ ethical judgement.

The video programme also aims to promote discussion of ethics-related issues in the workplace. It can be used as training support material for professional accountancy organisations, as a supplement to existing training and development programmes within organisations, or as part of a broad management ethics programme.

By developing the skills to identify these dilemmas, accountants will be better able to deal with situations which put their professional standards at risk.

IBE briefings

• Business ethics and big data
• Business ethics across the generations
• Business ethics and human rights: 2015 update 
• Fairness in the workplace: pay
• Fairness in the workplace: staffing and employment contracts

Simon Webley, Research Director, IBE shares his pearls of wisdom in this series of videos celebrating the IBE's 30th anniversary.

• What is business ethics? Why is it important?
• What is the golden rule?
• How do I know if I’m doing the right thing? 

CCAB

Developing and implementing a code of ethical conduct, published by CCAB is aimed at professional accountants intending to develop or enhance codes of conduct within their organisations.

However, CCAB believes that the advice and guidance could be applicable to a wider audience, in the private, public and not-for-profit sectors.

Defining and Developing an Effective Code of Conduct for Organizations
This IFAC guidance is designed to assist professional accountants and their organisations to develop and implement a code of conduct in a values-based culture.

Ethical dilemmas case studies

CCAB has published case studies focused on ethical issues encountered by:

• professional accountants in business  
• professional accountants in public practice 
• professional accountants working as non-executive directors 
• professional accountants working in the voluntary sector 
• professional accountants working in the public sector