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Cost and return: Professional ethics in business


As CGMAs, CIMA members and registered students and AICPA members throughout the world have a duty to observe the highest standards of conduct and integrity, and to uphold the good standing and reputation of the profession.

Research and activity in the field of business ethics and sustainability, the growing influence of investors, consumers, employees and wider society, all point to the necessity of embedding wider ethical considerations into strategy and performance measurement. The last few years have highlighted the costs of acting unethically, with a spate of business failures, high public distrust and now, increasingly, public protest against corporate and government misdemeanours. Management accountants have a specific role in not only upholding their related institutes' code of ethics, but also in acting as a role-model and influencer in regard to ethical practice and promoting responsible business for the long term.

Learning Objectives:

  • Explore the developments in ethics in the business context globally and the role of reporting
  • Examine key principles of the IFAC International Ethics and Standards Board of Accountants Code of Ethics, adopted by CIMA
  • Consider ethical dilemmas and their resolution
  • Recognise the particular role management accountants can play in contributing to ethical management practices