View Unit : Professional Ethics in Accounting and Finance

Unit

Unit Reference Number

K/600/4962

Qualification Framework

QCF

Title

Professional Ethics in Accounting and Finance

Unit Level

Level 3

Unit Sub Level

None

Guided Learning Hours

Unit Credit Value

Date of Withdrawal

SSAs

15.1 Accounting and Finance

Unit Grading Structure

Pass

Assessment Guidance

Knowledge based assessment delivered under controlled conditions

View Unit's Qualifications

Learning Outcomes and Assessment Criteria

Learning Outcome - The learner will:		Assessment Criterion - The learner can:
1	Understand the principles of ethical working in accountancy or payroll	1.1	Explain the general principles of ethical behaviour including · integrity (including honesty) · objectivity · professional and technical competence and due care · confidentiality · professional behaviour
		1.2	Summarise the relevant legal, regulatory and ethical requirements affecting the accounting and finance sector and your own industry.
		1.3	Explain the role of professional bodies relevant to your work
		1.4	Explain why you, your organisation or industry are expected to operate within codes of conduct and practice
		1.5	Explain how organisations can be at risk from improper practice and why it is important to be vigilant.
		1.6	Identify opportunities to maintain your continuing professional development in line with the requirements of relevant professional bodies.
2	Know how to behave in an ethical manner when working with internal and external customers.	2.1	Explain how to act appropriately and with integrity, honesty, fairness and sensitivity when working with clients, suppliers, colleagues and others.
		2.2	Identify why it is important to keep a professional distance between professional duties and personal life at all times
		2.3	Explain why it is important to adhere to organisational and professional values, codes of practice and regulations at all times.
		2.4	Explain why it is important to adhere to policies for handling clients’ monies
		2.5	Explain why information should be kept confidential.
		2.6	Identify circumstances when confidential information should be disclosed and who is entitled to the information.
		2.7	Explain the importance of working within the limits and confines of your own professional experience, knowledge and expertise.
		2.8	Summarise the advice to clients on the retention of books, working papers and other documents.
3	Understand when and how to take appropriate action following any suspected breaches of ethical codes.	3.1	Identify the relevant authorities and internal departments to whom unethical behaviour, breaches of confidentiality, suspected illegal acts or other malpractice should be reported.
		3.2	Recognise when the relevant authority should be advised if an employee has concerns over work they have been asked to complete
		3.3	Identify any inappropriate client behaviour and how to report it to the relevant authority.
		3.4	Explain the procedures which should be followed if an employee suspects an employer, colleague or client has committed, or may commit, an act which is believed to be illegal or unethical e.g whistle blowing

Equivalent Units

There are no equivalences to display.