Ethical code: Difference between revisions

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==Code of practice (professional ethics)==

{{See also|Professional ethics}}

A code of practice is adopted by a profession (or by a governmental or non-governmental organization) to regulate that profession. A code of practice may be styled as a code of [[professional responsibility]], which will discuss difficult issues, and difficult decisions that will often need to be made, and then provide a clear account of what behavior is considered "ethical" or "correct" or "right" in the circumstances. In a membership context, failure to comply with a code of practice can result in expulsion from the professional organization. In its 2007 International Good Practice Guidance, ''Defining and Developing an Effective Code of Conduct for Organizations'', the [[International Federation of Accountants]] provided the following working definition:

"Principles, values, standards, or rules of behavior that guide the decisions, procedures and systems of an organization in a way that (a) contributes to the welfare of its key stakeholders, and (b) respects the rights of all constituents affected by its operations."<ref>{{cite book |author=PAIB Committee |date=31 May 2007 |title=Defining and Developing an Effective Code of Conduct for Organizations |series=International Good Practice Guidance |publisher=The International Federation of Accountants (IFAC) |isbn=978-1-931949-81-1 |url=http://www.ifac.org/publications-resources/defining-and-developing-effective-code-conduct-organizations |url-access=registration }}</ref>{{Page needed|date=August 2017}}