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Chapter 13

Professional and corporate ethics

Outcome

By the end of this session you should be able to:

 explain and explore the nature of a ‘profession’ and ‘professionalism’

 describe and assess what is meant by ‘the public interest’

 describe the role of, and assess the widespread influence of, accounting as a
profession in the organisational context

 analyse the role of accounting as a profession in society

 recognise accounting’s role as a value-laden profession capable of influencing
the distribution of power and wealth in society

 describe and critically evaluate issues surrounding accounting and acting
against the public interest

 describe and explore the areas of behaviour covered by corporate codes of
ethics

 describe and assess the content of, and principles behind, professional codes
of ethics

 describe and assess the codes of ethics relevant to accounting professionals

 describe and evaluate issues associated with conflicts of interest and ethical
conflict resolution

 explain and evaluate the nature and impact of ethical threats and safeguards

 explain and explore how threats to independence can affect ethical behaviour

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