Professional Ethics Requirement
From the ACCA Professional Ethics module, I've learned that in order to make ethical decisions, we should consider all kinds of arguments that might influence us when we make decisions.
This module is tailored to cover some situations that may face the professional accountant in their workplace. The interactive case studies allowed me to practice my ethical decision-making with feedback provided on my decision. This helps me to identify and to recognize my own personal ethics in any professional ethical problem that I may be faced with. I've learned that there are two major approaches to solve ethical dilemmas, which are rule-based approach and principle-based approached. In rule-based approach, we access the right thing to do in a situation by checking for a rule that addresses or covers the situation. Whereas principle-based approach focuses on theories of the importance of general principles and it is a more flexible approach, and can cover new situations that might not have been thought of. ACCA follows the principles-based approach and it is binding on all members of ACCA. Besides that, I've learned the five ACCA’s fundamental principles, these are integrity, objectivity, professional competence and due care, confidentiality, and professional behavior. However, there are threats may affect the compliance to these fundamental principles, those threats are self-interest, self-review, advocacy, familiarity and intimidation.
Finally, I have learned the framework that provides guidance to identify, evaluate and respond to threats to compliance with the fundamental principles. The application of framework consists of four steps: -
• Firstly to identify the real issue,
• Secondly to determine if any of the fundamental principles are threatened,
• Thirdly to determine if the threats are significant and
• Finally we need to see if safeguards can be put in place to mitigate the ethical threats
This ethical dilemma resolution process helps
This module is tailored to cover some situations that may face the professional accountant in their workplace. The interactive case studies allowed me to practice my ethical decision-making with feedback provided on my decision. This helps me to identify and to recognize my own personal ethics in any professional ethical problem that I may be faced with. I've learned that there are two major approaches to solve ethical dilemmas, which are rule-based approach and principle-based approached. In rule-based approach, we access the right thing to do in a situation by checking for a rule that addresses or covers the situation. Whereas principle-based approach focuses on theories of the importance of general principles and it is a more flexible approach, and can cover new situations that might not have been thought of. ACCA follows the principles-based approach and it is binding on all members of ACCA. Besides that, I've learned the five ACCA’s fundamental principles, these are integrity, objectivity, professional competence and due care, confidentiality, and professional behavior. However, there are threats may affect the compliance to these fundamental principles, those threats are self-interest, self-review, advocacy, familiarity and intimidation.
Finally, I have learned the framework that provides guidance to identify, evaluate and respond to threats to compliance with the fundamental principles. The application of framework consists of four steps: -
• Firstly to identify the real issue,
• Secondly to determine if any of the fundamental principles are threatened,
• Thirdly to determine if the threats are significant and
• Finally we need to see if safeguards can be put in place to mitigate the ethical threats
This ethical dilemma resolution process helps