The CCAB Guidance on Code of Ethical Guidance as Issued by the Accountancy Bodies

An organization’s integrity and operational risks can be addressed by a code of ethics as claimed by CCAB. A code of ethics conduct can be effective if only championed and promoted in the entire organization as asserted by a new ACCA publication known as ‘Developing and Implementing a Code of Ethical Conduct.’

This guidance’s objective is meant for professional accountants who are aiming to enhance or develop codes of conduct within an organizational set up. CCAB is of the opinion that the guidance and advice may apply to a much bigger audience in the public, private and non governmental organizations. It observes that a code of conduct is crucial since it offers an organization with a consistent and clear benchmark for ethical behavior and which may assist in building an organization that is values driven.

The chair of CCAB, Anthony Harbinson goes on to say that within the business community, financial crisis is responsible for turning a business community’s integrity. The codes, rules and behaviors of an organization have been questioned. Nevertheless, a code of ethical conduct will make all the difference since it can play a big role in settling dilemmas related to ethics.

The guidance is aimed at looking the codes objective and those elements which form it like the mission statement, ethical principles, high level values and particular behaviors. Even though it is not regulatory, it proposes a structure whereby any code may be based. The contentious issues of whistle blowing and obligations for speaking up is what the CCAB’s guidance looks at which are very crucial in a framework that is ethical.

Whenever there is a breach of ethical conduct suspected, subcontractors and employees must have the confidence for challenging them. It is also important to make awareness to the staff of the external organizations which are supportive of the whistle blowers.

In fact, a code requires being a document that is lived, constantly reviewed by the staff and management. It also requires bench marking it externally with an aim of identifying some areas where positive employment can be engaged. The basic ethical principles include objectivity, integrity, due care and professional competence, professional behavior and competence.