The fundamental principles of ethical behaviour: integrity, objectivity, professional competence and due care, confidentiality, professional behaviour
Accountants follow five core ethical principles that guide every professional decision they make. These principles are integrity, objectivity, professional competence and due care, confidentiality, and professional behaviour.
Real World
In the Enron scandal (2001), accountants at Arthur Andersen breached objectivity and integrity by helping executives hide billions in debt off the balance sheet, ultimately leading to the firm's collapse and criminal convictions.
Exam Focus
Learn all five principles by name — 'integrity' and 'honesty' are not interchangeable in mark schemes; use the precise CIMA/ICAEW terminology.
Essay Framework
Use PEEL to structure every paragraph. Tap each step for guidance and an example.
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