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Ethics > Professional & Accounting Ethics > Flashcards

Professional & Accounting Ethics Flashcards

1
Q

What are the code of ethics? (PIPCO)

A 
Professional behavior
Integrity
Professional competence and due care
Confidentiality
Objectivity
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2
Q

What is meant by professional behavior?

A

comply with laws/regulations and not discredit the profession

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3
Q

What is meant by integrity?

A

straightforward and honest

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4
Q

What is meant by professional competence and due care?

A

Maintain professional knowledge and be diligent

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5
Q

What is meant by confidentiality?

A

Don’t disclose business information without authorization nor use to benefit yourself.

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6
Q

What is meant by objectivity?

A

No bias, conflict of interest or undue influence.

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7
Q

What are the principles of business ethics?

A 
Fair/unfair treatment
Just/unjust treatment
Honest/corrupt
Duty/Breach of duty
Privacy/Intrusion
Truthful/Untruthful
Responsible/irresponsible
Diligent/negligent
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8
Q

What are examples of unfair treatment?

A

Unfair discrimination between staff

Exploitative pay and work conditions

Bullying and oppressive behavior

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9
Q

What are examples of unjust treatment?

A

Prejudice

Not considering evidence

Excessive punishment

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10
Q

What are examples of corruption?

A

Stealing from employer or customer

Offering or taking bribes

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11
Q

What are example of breach of duty?

A

Ignoring fiduciary due to shareholders

Ignoring duty of care to staff or customers

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12
Q

What are examples of intrusion?

A

Unauthorized surveillance of staff or customers

Inappropriate questions to staff or customers

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13
Q

What are examples of being untruthful?

A

Deliberate false claims about product or CSR

Lying when asked for account of something

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14
Q

What are examples of being irresponsible?

A

Dangerous product

Pollution of the environment

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15
Q

What are examples of negligence?

A

Not doing job to the best of ability
Failure to supervise situation properly
Not responding to a clear risk

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16
Q

What is corporate social responsibility (CSR)?

A

A firms obligation to maximize its positive impacts upon stakeholders while minimizing the negative affects.

17
Q

Why is CSR important?

A

Having a good CSR can attract customers

Attract a high caliber staff

Access a wider HR base

Governments are fining or increasing taxes of more polluting businesses

Sponsorship & charity is a form of advertising

Good CSR can increase the financial value of the business

Ethics (1 decks)

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