Page 154 - Microsoft Word - 00 ACCA F1 Notes Prelims.docx

Chapter 10

 explain the concept of acting in the public interest

 recognise the purpose of international and organisational codes of ethics and
codes of conduct, IFAC, ACCA etc

 describe how professional bodies and regulators promote ethical awareness
and prevent or punish illegal or unethical behaviour

 identify the factors that distinguish a profession from other types of occupation

 explain the role of the accountant in promoting ethical behaviour

 recognise when, and to whom, illegal or unethical conduct by anyone within or
connected to the organisation should be reported

 define corporate code of ethics

 describe the typical contents of a corporate code of ethics

 explain the benefits of a corporate code of ethics to the organisation and its
employees

 describe situations where ethical conflicts can arise

 identify the main threats to ethical behaviour

 outline situations whether ethical dilemmas may be faced

 list the main safeguards against ethical threats and dilemmas

and answer questions relating to these areas.

The underpinning detail for this Chapter in your Notes can be found in
Chapter 10 of your Study Text

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