i. Professionalism as an Accountant:

• Integrity: An accountant must act with integrity, be honest, and straightforward in all professional and business relationships. This implies not being involved in any fraudulent activities.
• Objectivity: The accountant must not allow bias, conflict of interest, or undue influence to affect their professional judgment.
• Professional Competence and Due Care: Accountants should maintain knowledge and skills to provide competent professional service and keep up with relevant updates in areas such as International Financial Reporting Standards (IFRS), Tax laws, and Auditing Standards.
• Confidentiality: Accountants must respect the confidentiality of the information they acquire and not disclose it unless legally required.
• Professional Behavior: They must avoid actions that discredit the profession and ensure they comply with laws and regulations.

ii. Nature and Purpose of a Corporate Code of Ethics:

• Nature: A corporate code of ethics is a formal written statement that outlines the ethical behavior expected of employees within the organization. It is issued by the board of directors and serves as a guiding document.
• Purpose:
  1. Guidance: It provides clear guidance to employees on how they are expected to behave in line with company values and ethical standards.
  2. Accountability: Encourages accountability within the organization, ensuring that all actions are in the best interest of stakeholders.
  3. Integrity: Promotes a culture of integrity and ethical decision-making across all levels of the organization.
  4. Legal Compliance: Helps the organization comply with relevant legal and regulatory requirements by reinforcing the importance of lawful conduct.