Fundamental principles

In this lesson

1. 0:00 Professional ethics and ACCA's code of conduct
2. 0:23 Five fundamental principles: PIPCO explained
3. 1:26 Professional competence and due care defined
4. 1:56 Integrity, professional behaviour and confidentiality
5. 2:53 Objectivity and avoiding conflicts of interest
6. 3:24 The conceptual framework and threat assessment

About this lesson

We'll explore the PIPCO acronym—professional competence and due care, integrity, professional behaviour, confidentiality, and objectivity—and what each principle means in practice. You'll see how these principles apply within a conceptual framework that helps you identify, evaluate, and respond to ethical threats in any situation you might encounter. Understanding these fundamentals is essential for your exam and your career. The five principles aren't just rules to memorise; you need to be able to define them clearly, explain them to others, and recognise how they apply to real scenarios. This lesson equips you with the knowledge to spot potential threats to these principles and understand which ethical standards might be at risk—a key skill tested in your assessments and vital when you're advising clients or colleagues in your professional role.

Duration: 4m