• 1 Marks

BL – May 2016 – L1 – SA – Q7 – Business Ethics and Corporate Governance

Identify the statement that is not a purpose of ethical codes administered by professional bodies.

Ethical codes are administered by professional bodies to ensure all of the following EXCEPT
A. Maintain high standard in the profession
B. Protect the vulnerable client
C. Prevent arbitrary use of power
D. Prevent quackery in the profession
E. Maintain a monopoly of the profession

Answer:
E. Maintain a monopoly of the profession

Explanation:
Ethical codes aim to uphold professional standards and protect the public, but they are not meant to establish or maintain a monopoly in any profession.

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