Ethics and Professional Practice

Although consideration of ethical dimensions is integrated into two Professional 1 and all papers at the Professional 2 Level, it is also considered important that ethics and related aspects of professional practice are examined separately in order that you can demonstrate an appropriate level of understanding, learning and competency in the importance of, and application of, ethics to the work of a professional accountant. This paper provides the basis for that knowledge to be developed and tested into a skill.

Ethics and Professional Practice learning outcomes:

1. Explain different ethical theories and apply them to practical aspects of business and accounting decision making
2. Identify and analyse, using different ethical perspectives, the ethical dimensions that arise in connection with aspects of business and public practice particularly relevant to accounting and auditing
3. Apply appropriate and relevant ethical guidance and standards, such as the International Federation of Accountants Code of Ethics (adopted by AIA) and the Ethical Standard for Auditors issued by the Financial Reporting Council; and
4. Identify threats and safeguards when evaluating alternative courses of action and make choices and recommendations that are consistent with relevant guidance and that reflect standards of ethical behaviour that are appropriate for a professional accountant.

In addition to comprehensive syllabus targeted material our Learning & Practice Workbook offers:

• Exam focus - we have taken account of recent exams, guidance the examiner has given and the assessment methodology
• Help to study in the way that best suits your learning style and the time you have available
• Assistance with creating a personal study plan
• A way to review your progress through Fast forwards, Exam focus points, Chapter roundups and Quick quizzes
• Exam question bank containing AIA exam-standard questions with answers