Professional Ethics Notes with Examples

1. Objectivity

Definition: The principle of objectivity requires that professionals do not allow bias, conflicts of interest, or undue influence to affect their judgment.

Examples:

Auditor Independence: An external auditor refuses to modify the audit report despite pressure from the client to hide financial irregularities.  

Consultant: A consultant provides data-driven advice rather than recommendations that would personally benefit a stakeholder.  

2. Integrity

Definition: Integrity involves being honest and straightforward in all professional and business relationships.

Examples:

Financial Reporting: An accountant ensures that all transactions are accurately recorded, even if reporting losses could lead to negative feedback from management.  

Procurement Officer: A procurement officer refuses a bribe offered by a supplier to win a contract.  

3. Confidentiality

Definition: Confidentiality requires that professionals do not disclose information obtained during their duties unless authorized or legally required to do so.

Examples:

Auditor: An auditor does not reveal confidential client financial data to competitors or unauthorized parties.  

Human Resources: An HR professional safeguards employee data and does not share personal information with unauthorized persons.  

4. Professional Behavior

Definition: Professionals must comply with laws and regulations and avoid actions that could discredit their profession.

Examples:

Tax Advisor: A tax advisor ensures compliance with tax laws without engaging in unethical tax avoidance schemes.  

Engineer: An engineer ensures safety regulations are followed on construction projects to prevent accidents.  

5. Professional Competence and Due Care

Definition: Professionals must maintain the knowledge and skills necessary to provide competent services and act diligently in accordance with professional standards.

Examples:

Accountant: An accountant stays updated on changes to financial reporting standards to ensure accurate reporting for clients.  

Doctor: A medical professional regularly attends workshops to remain current with new treatments and procedures.