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Post Info TOPIC: ICB & Professional Ethics


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ICB & Professional Ethics


Well its been a long time since I posted here.  Spent the last 12-18months with my head stuck in ACCA books.

I'm going to be taking my first ICB exam in a week or so but I found it interesting to note that the ICB syllabus doesn't cover professional ethics.

With ACCA, unless you pass the ethics module, no qualifications are awarded, no matter how many exams you have passed.  Even if you pass the entry level introductory certificate, which is just two exams, you won't get the qualification unless you pass the ethics exam. 

The ACCA ethics module covers things like money laundry regs and what to do if you suspect a client, as well as other legal matters.

I've also noticed that the lowest level AAT also includes a module on ethics if the student is on an apprenticeship scheme and for others it is mandatory study at level 3 (intermediate).

As professional ethics is an important topic I'm suprised that the ICB don't include it as a mandatory course in their syllabus for level 2 or 3, after which a member can apply for a practising licence. 

I know members need to sign and comply with a code of ethics, but there's a difference between that and acutally studying the ins and outs of the subject.

Andrew



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Hi Andrew,

welcome back to the site and good subject to come back on!

Know the feeling with the ACCA books. Which papers have you been doing?

As you appreciate adhering to the IFAC code of professional ethics is mandatory for people in our line of work but I wonder how many people with some bodies don't even realise that they've signed up to it (or even realise that it exists).

I think one of the main area's where people at this level are making mistakes in relation to ethics is in relation to marketing professional services.

Look at any number of websites and people are in breach of the basics. which of course amongst other things includes.

  • Don't make unfounded claims about the superiority of one's own services.
  • Don't be disparaiging of the services provided by others.
  • Advertise only using media suitable to the status of the profession.

How many bookkeepers would realise that advertising that you are the best bookkeeper in the area on a card in a chipshop window actually breaches the code of ethics!

The site did post asking for any suggestions about future articles and my number one entry was a requirement for an article on Ethics.

As you appreciate, if you don't know your ethical guidance inside out then you cannot pass the exams to become an accountant.

Unless bookkeeping bodies incorporate the same into their qualifications accountants will continue to look down on, and often totally disregard bookkeepers as serious professionals rather than appreciating that at small business level there is little difference between these two legs of the profession.

As you hit upon, members may sign a code of ethics but they didn't have to jump through scenario based questions to determine how they should handle various scenario's.

Hey, maybe we should start our own supervisory body!

I fear however that the syllabus would end up more at ACCA skills level studies (excluding the Law, IT and Audit papers) than at current bookkeeper level studies as to my mind if bookkeepers are to work as accountants then they need to have equivalent skills level knowledge.

Personally I really wish that you could just stop ACCA at that level and be a lower level accountant as the higher level papers can be complete nightmares (I'm thinking of the Beast here (P2)).

I wouldn't of course expect anyone intending to work only in small to medium sized companies in technical roles to go on to papers at the equivalent to the P level nightmares.

Oh no, an idea's started setting in!Half price membership of our new body to anyone who voted for me as bookkeeper of the year (well, there just went my ethics!).

I know some of the guys who set up the BCS (British Computer Society) so figure that it can't be that difficult. biggrin

Wonder how long it would be before I could get BPP to pay me £50,000 per annum to be my preferred supplier of study texts! (See PQ Magazine Cash for books article).

Mmm, just what the profession needs, yet another supervisory body no

Nice to have you back on board Andrew,

Talk in a bit,

Shaun.



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Shaun

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Guru

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It does seem an odd ommission to me and think it's something the ICB should look at introducing.

Oddly enough Shaun, I downloaded the IFAC code of ethics to read last night. 



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Tony

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