Ethics: Applying the code

This foundational micro course is aimed at finance professionals who seek to develop or refresh their understanding of how to apply the IESBA Code of Ethics for Professional Accountants (the Code) when they encounter common ethical situations in their roles and careers.

In a survey of CA ANZ members, respondents ranked 'adhering to a code of ethics' as the most important characteristic of a profession, ahead of expertise and education. Ethics is about doing what is morally correct – both in our work and in our personal lives. A profession earns respect when its members commit to and adhere to its ethical code.

All professional accountants have a responsibility to act in the best interest of the public and comply with the fundamental principles of integrity, objectivity, professional competence and due care, confidentiality, and professional behaviour. This is set out in the International Code of Ethics for Professional Accountants (including International Independence Standards) (the Code), which applies to all International Federation of Accountants (IFAC) member bodies.

Just like accounting standards, member bodies may adopt or modify the international Code for use in their own jurisdictions. Australia and New Zealand each have their own published Codes of Ethics based on the international Code.

This micro course focuses on the international Code, and you will learn about your ethical obligations as a professional accountant and how to use the Code in practice. You will gain practical experience using the Code and applying the principles to real life scenarios.

Key benefits of this course include:

• Identify the ethical requirements that apply to you, your role and how to use the Code to address ethical scenarios and dilemmas;
• Explore common ethical dilemmas you may encounter in your role and practice interpreting the Code to determine which fundamental principles of the Code are potentially threatened; and
• Practise applying the conceptual framework of the Code to address threats to the fundamental principles of the Code in common ethical dilemmas.

By completing this micro course, you’ll be able to:

• Recognise how the International Code of Ethics for Accountants (the Code) applies to you and your role.
• Analyse common ethical dilemmas to determine which fundamental principles of the International Code of Ethics for Accountants (the Code) are potentially threatened.
• Apply the International Code of Ethics for Accountants (the Code) to address threats to the fundamental principles of the Code in common ethical dilemmas.