Professional

Ethics
Part 02 – Professional Ethics
Principles
Members shall act in accordance with these principles and shall encourage
others with in their organization.

1) Honesty
2) Fairness
3) Objectivity
4) Responsibility

Professional Ethics
Principles
Members shall act in accordance with these principles and should encourage
are there with in their organization.
1) Honesty
• It is being honest means telling the truth it is the quality of being upright,
having sincerity frankness free from fraud
2) Fairness
• It is acting in a impartial manner.
• Free from bias, dishonesty and injustice.
3) Objectivity
• Biasing a judgement on an established to set of rules.
• It is state of being unbiased, free from personal feelings and making
decisions on the facts alone.
4) Responsibility
• Performing and act completely and in a timely manner.
• It is this state of being answerable or accountable for something within
one's on control.

Professional Ethics
Standards
Failure to comply may result in disciplinary actions.

1) Competence
2) Confidentiality
3) Integrity
4) Credibility

Professional Ethics
Standards
Failure to comply may result in disciplinary actions.

1) Competence
• It means the quality of having the required skill knowledge qualification to
full fill a job.
• Keep in up with changes in laws regulation standards etc.
• Maintain an appropriate level of leadership by enhancing knowledge and
skills.
• Provide information and recommendation that are accurate clear and
timely and help manage risk
• Perform professional duties in accordance with the rules, regulations
standard etc.

Professional Ethics
Standards
Failure to comply may result in disciplinary actions.

2) Confidentiality
• Keep the information confidential except when disclosure is authorized or
legally required.
• Refrained from using conferential information for unethical or illegal
advantage.
• Inform all relevant parties regarding appropriate use of confidential
information.
• Monitor to ensure complins with low.
• Confidentiality means safeguarding information and not disclosing to
unauthorized person.

Professional Ethics
Standards
Failure to comply may result in disciplinary actions.

3) Integrity
• Mitigate actual conflict of interest.
• Refrain from engaging in any conduct that would prejudice carrying out
duties ethically.
• Abstain from engaging in any activity that might discredit the profession.
• Strictly follows the code of values.
• Communicate both good news and bad news.
• Contribute to positive ethical culture.

Professional Ethics
Standards
Failure to comply may result in disciplinary actions.

4) Credibility
• Communicate information fairly and objectively.
• Provide all relevant information.
• Report any delays in information, processing etc.
• Communicate professional limitation.
• Credibility is quality of being believable and trustworthy.
• Maintain competence providing regular update.
• Presenting bad news in the timely manner without omitting any
information.

Professional Ethics
Resolving Ethical Issues
Remember should follow the established policies of the organization
If does not have established the policy
• Discuss with immediate supervision, if supervisor involved presented to
the next level of management.

• IMA offers and anonymous helpline that the members may call to
request how key elements of IMA statements could applied.

• The member should consider consulting his her own attorney.

Professional Ethics
Employee Fraud and Fraud Triangle
• Developed by Donald Cressey.
• Three conditions must be present for a trusted employee to commit a
fraud.
• These conditions are also called 3 legs of the Fraud Chair
1) Pressure
The employee has a financial problem.
2) Opportunity
The employee sees a way to use position of trust to solve the problems
and believes it can be done in a way that there will be low risk of getting
caught.
3) Rationalization
The employee needs to be able to justify the crime as an acceptable act.
Employee may think “I am just borrowing the money and I will put it back”.

Professional Ethics
How to reduce fraud Activity
• The employer should provide a means for employees to air
grievances.
• Employees should be made to feel that they can come to their
employer about financial or other problems without being judged,
and the employer will help them.
• Employers can set a moral and ethical “tone at the top” and prevent
employee rationalization that the employer is dishonest by making
sure that management projects and engages in honest behavior.
• An employee hotline, mandated under Sarbanes-Oxley, gives
employees the opportunity to let management know about
suspected wrongdoing.

Professional Ethics
 RABEEH OVUNGAL

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Professional Ethics
Part 02 – Professional Ethics