- 1 Marks
AA – L2 – SA – Q1.3 – Professional Ethics Guidance
Question
For each of the following statements, in relation to guidance on professional ethics, select whether they are true or false.
- Ethical guidance from ICAG is in the form of rules rather than principles
A True
B False - Rules-based codes offer a more straightforward ethical framework as they cover specific situations
C True
D False - A rules-based ethical framework can more effectively accommodate a fast-changing environment
E True
F False
Answer
B, C, F
Explanation:
- ICAG’s ethical guidance, aligned with IFAC, is principles-based (e.g., integrity, objectivity), not rules-based, making B (False) correct.
- Rules-based codes provide clear instructions for specific scenarios, making them straightforward, so C (True) is correct.
- A rules-based framework is less adaptable to rapid changes compared to a principles-based approach, which is more flexible, so F (False) is correct.
- Tags: Ethical Framework, ICAG, Principles-Based, Professional Ethics, Rules-Based
- Level: Level 2
- Uploader: Salamat Hamid