Ethics
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Definitions of ethics
- Moral principles.
- Principles which govern the conduct of any individual or corporate member of a professional organisation.
Characteristics of ethical issues
The Institute of Business Ethics (IBE) identifies the following characteristics, to help to determine whether a business issue is an ethical issue.
If one or more of these characteristics is present, it is likely to be an ethical issue:
- One individual's 'right' decision about the issue may not be the same as another's 'right' decision.
The issue:
- raises moral questions
- is not covered by law
- compromises personal or organisational values
- is against any code of ethics or code of practice
- involves personal duties and responsibilities or
- provokes the responses 'should I?' or 'ought I?'
Tests of ethical behaviour
The IBE has identified a number of key tests to help to determine whether a course of action, or inaction, is ethical:
- Is the action legal, transparent and fair?
- Who will it affect?
- Who benefits?
See also
- ACT Competency Framework
- ACT Ethical Code
- Actuarial standards
- Agency risk
- Asymmetry of information
- Best practice
- Boilerplate
- Business ethics
- Code
- Code of practice
- Competence
- Compliance
- Contract
- Corporate governance
- Corporate social responsibility
- Directive
- Enforcement
- Ethical business
- Ethics washing
- Framework
- Good practice
- Governance
- Guidance
- IESBA
- Institute of Business Ethics
- Jurisdiction
- Law
- Legislation
- Objectivity
- Principle
- Professional behaviour
- Red tape
- Regime
- Regulation
- Reporting
- Reputational risk
- Rules
- Standards
- Supervision
- Tax
- The Code
- Transparent
