1. Whats the difference between ethical awareness, ethical commitment and ethical competency?

(2 pax) “commitment- personal resolve to act ethically, awareness- ability to discern,

competency- ability to engage in sound moral reasoning and consider impacts of alternative
actions”
2. Why does the accounting profession need a code of ethics? (2 pax) “EO 220 Appendix B- IA, C-
Man Acc”
3. What is the purpose of business ethics? (2 pax) “to determine what business practices are right
or wrong, assist the business world in formulating codes of conduct to guide in dealings and
making decisions”
4. What are the ethical challenges in the present business world today? (1 pax) “ethics vs pursuit of
profit, ethics to function correctly vs people-oriented”
5. Do you think there are laws which are actually unethical or laws not enacted to protect unethical
behaviours? (2 pax) “ex: abortion- in the phil vs US where abortion clinics are allowed; anti-
squatting which was abolished but really unethical”