Corporate code of ethics

In this lesson

1. 0:00 Corporate Code of Ethics Introduction
2. 1:18 Principles Based vs Rules Based Approaches
3. 2:34 Advantages of Principles Based Framework
4. 3:22 Disadvantages of Principles Based Framework
5. 4:08 Rules Based Approach in Practice
6. 6:25 ACCA's Professional Code of Ethics
7. 7:03 Five Core Ethical Principles for Accountants

About this lesson

You'll explore the two main approaches — principles-based and rules-based — and understand the advantages and disadvantages of each, including how they affect consistency, employee judgment, and practical application in complex situations. You'll see how principles-based codes encourage ethical thinking and adapt to different scenarios, but can create ambiguity and subjective interpretations. Rules-based codes provide clarity and consistency but may not cover every situation and can discourage independent ethical reasoning. The lesson includes a worked example showing how to analyse a company's ethical framework choice and identify its strengths and weaknesses. This content is directly relevant to SBL, where you may encounter scenarios involving accountants or organisations operating under specific ethical codes. You'll also learn about ACCA's own code of ethics — covering integrity, objectivity, professional competence, confidentiality, and professional behaviour — which you can apply when advising on ethical matters in case study questions.

Duration: 8m