Page 161 - F1 - AB Integrated Workbook STUDENT 2018-19

Professional ethics in accounting and business

There are six values that organisations can apply in order to create a culture that
makes it easy for employees to follow their professional codes and behave ethically.
They can be easily remembered using the acronym HOTTER.

Honesty – the business encourages employee honesty, even when detrimental
to the organisation itself

Openness – the organisation should be willing to freely provide information to

stakeholders, as needed

Transparency – the company makes it easy for key stakeholders to review its
activities

Trust – organisations need to be trustworthy in their dealings with others and try
to work in the best interests of stakeholders

Empowerment – giving employees and other stakeholders more ability to make
their own decisions

Respect – all employees and stakeholders should be treated with dignity by the
organisation, regardless of age, gender etc.

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