Area F

Question 1

Approaches to ethics

Answer 1

1. Consequentialist (r/w depends on the consequences) vs Pluralist (cater to all stakeholders and not compromise)
2. Relativist (ethics is circumstantial; flexible) vs Absolutist ( action is inherently r/w; stnd framework to follow).

Question 2

IFAC code off ethics

Answer 2

I Integrity
C Confidentiality
P Professional competence and due care
O Objectivity
P Professional behavior.

Question 3

Threats to ethical behaviour

Answer 3

1. Self interest
2. Advocacy
3. Intimidation
4. Familiarity
5. Self - review

Question 4

Values in employees

Answer 4

H Honesty
O Openness
T Trust
T Transparency
E Empowerment
R Respect

Question 5

Course of action -> unethical conduct

Answer 5

1. Consult with whoever is concerned with governance (compliance officer / BODs)
2. Legal advice &/or professional body.
3. Report to relevant authorities.