Summary of Professional Ethics Module
What is ethics?
Ethics is a branch of philosophy that studies the difference between right and wrong. As professional accountants, you will have many opportunities to choose between right and wrong. And as you have seen in the business press, making the wrong choice can lead to serious consequences including corporate failure, loss of reputation, fines, and even jail sentences.
The objective of this unit is to introduce you to different branches of ethics, in order to help you understand that people approach the topic with different points of view. You will learn about different ways of thinking through an ethical question. This will help you identify the way that you make decisions so that you can recognise your own personal ethics in any professional ethical problem that you may be faced with. In this way, you can mitigate any detrimental impact of your own personal ethics, with a view to a more objective approach.
Perspectives on ethics
In very broad terms, there are three ways of looking at ethics that have developed over time: rules conformance, good intentions, and competence.
One way of thinking about ethics is in terms of conformity to rules. From this perspective, ethics is understood as a list of things to do and to not do. Sometimes the list gets very long and complicated and needs to be interpreted by a whole institution of people. The ethical person, from this perspective, is the one who conforms to the rules.
A second way of thinking about ethics is in terms of good intentions. From this perspective, a behaviour is considered ethical if it is based on good intentions. Good behaviour then follows from good thinking.
The third perspective thinks of ethics in terms of competence. From this perspective, the ethical person is one who can make decisions based on principles and then act on them. This perspective is thought of as looking at competence, because ethics is thought of in terms of an ability rather than an attitude our duty to others
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Ethics is a branch of philosophy that studies the difference between right and wrong. As professional accountants, you will have many opportunities to choose between right and wrong. And as you have seen in the business press, making the wrong choice can lead to serious consequences including corporate failure, loss of reputation, fines, and even jail sentences.
The objective of this unit is to introduce you to different branches of ethics, in order to help you understand that people approach the topic with different points of view. You will learn about different ways of thinking through an ethical question. This will help you identify the way that you make decisions so that you can recognise your own personal ethics in any professional ethical problem that you may be faced with. In this way, you can mitigate any detrimental impact of your own personal ethics, with a view to a more objective approach.
Perspectives on ethics
In very broad terms, there are three ways of looking at ethics that have developed over time: rules conformance, good intentions, and competence.
One way of thinking about ethics is in terms of conformity to rules. From this perspective, ethics is understood as a list of things to do and to not do. Sometimes the list gets very long and complicated and needs to be interpreted by a whole institution of people. The ethical person, from this perspective, is the one who conforms to the rules.
A second way of thinking about ethics is in terms of good intentions. From this perspective, a behaviour is considered ethical if it is based on good intentions. Good behaviour then follows from good thinking.
The third perspective thinks of ethics in terms of competence. From this perspective, the ethical person is one who can make decisions based on principles and then act on them. This perspective is thought of as looking at competence, because ethics is thought of in terms of an ability rather than an attitude our duty to others
One