To act professionally you need to:
-Comply with and keep up to date with relevant legislation,
- Uphold professional values and standards
- Act ethically.
Examples of relevant activities include: Keeping up to date and complying with relevant legal and regulatory requirements which affect your work, including laws on theft, fraud, money laundering, insider trading and health, safety and security legislation.
Adhering to the following fundamental principles of ethical behaviour with clients, colleagues, suppliers and customers:
- Integrity
- Objectivity
- Professional and technical competence and due care
- Confidentiality
- Professional behaviour.
Adhering to organisational policies affecting your work, including those relating to handling client's money and money laundering.
Following organisational procedures or policies for retaining confidential business records, files and other documents safely and securely.
Resolving ethical dilemmas or managing conflicts you have faced at work.
Key knowledge and understanding:
- Understanding what it means to be a professional
- Knowing about relevant laws and regulations affecting bookkeepers and accountants
- Understanding the fundamental principles contained within the ACCA's Code of Ethics and Conduct
- Appreciating that there are different ethical perspectives which apply to resolving dilemmas and conflicts.
Question 1: Describe an occasion where you had to apply your knowledge of relevant laws, uphold fundamental principles or resolve an ethical conflict or dilemma at work.
Question 2: What did you learn from this experience and how will it influence your future behaviour at work?
Question 3: What would have been the possible consequences if you had not complied with legal and regulatory requirements or had behaved unprofessionally or unethically?