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Ethics

Ethical behaviour plays a vital role in ensuring public trust in financial reporting and business practices and upholding the reputation of the accountancy profession. ICAEW members are expected to demonstrate the highest standards of professional conduct and take into consideration the public interest.

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Key resources

Insights from CFOs on ethics
ICAEW's Director of Trust and Ethics, Laura Hough, discusses why good people do bad things with industry experts in this ICAEW Insights Podcast.
Four columns
The latest ethics related videos, webinars and podcasts from ICAEW. Find expert insight into ethical decision making, speaking up and ethical standards, which will support your professional development.
White building in daylight
ICAEW's Ethics CPD course is designed to help you apply the Code of Ethics to everyday situations and uphold the highest standards of professional conduct.
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Recentring ethics

Ethics must not fade into the background. For Global Ethics Day on 18 October, ICAEW emphasises the importance of ethics for leadership and culture within the profession.
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Ethics fundamentals

Why do good people do bad things?

In this Insights In Focus episode, we discuss professional ethics and seek to answer the age-old question: why do good people do bad things?
Listen now
From 1 January 2020

ICAEW Code of Ethics

Access the Code which is based on IESBA’s Code of Ethics for Professional Accountants and supporting materials.
Read the code
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Ethics recordings

The latest ethics related videos, webinars and podcasts from ICAEW. Find expert insight into ethical decision making, speaking up and ethical standards, which will support your professional development.
Watch now
Regulations

Guidance on NOCLAR

The ICAEW Code of Ethics has sections entitled ‘Non-Compliance with Laws and Regulations’, commonly known as NOCLAR. This guidance summarises what a member’s key responsibilities are under these new requirements.
Read guidance
Online training

Ethics CPD course

ICAEW has created a free online ethics course to support members in meeting their changing continuing professional development (CPD) requirements
Find out more

ICAEW Code of Ethics

ICAEW's Code of Ethics applies to all members, students, affiliates, employees of member firms and, where applicable, member firms, in all of their professional and business activities, whether remunerated or voluntary.

ICAEW Code of Ethics
  • Regulations
Access the Code which is based on IESBA’s Code of Ethics for Professional Accountants and supporting materials.
Code of Ethics 2020 Additional information
  • Regulations
Summaries of the Code's key requirements, more information on some of the key changes, and source and destination material.
ICAEW Code of Ethics summary
  • Regulations
  • PDF (37kb)
A summary of the fundamental principles of the Code of Ethics.
More support

Articles and features

Ethics: how much do people trust accountants?
  • Article
  • 18 Oct 2023
The latest Edelman Trust Barometer looks at the level of trust that people and businesses have in chartered accountants.
Ethics: the psychology behind a moral slippery slope
  • Article
  • 18 Oct 2023
Most people don’t set out to do bad things, but it’s easy to subconsciously ignore ethical issues when making decisions. This phenomenon is known as ethical fading, and we’re all susceptible to it.
Ethics: why accountants must stand firm in their ethical beliefs
  • Article
  • 17 Oct 2023
Sasa International Cosmetics CFO and Executive director Danny Ho explains that, no matter the pressures to conform, accountants must stick to their ethical guns.
Ethics: why language and leadership matter
  • Article
  • 17 Oct 2023
Positive values should be evident from an organisation’s daily speech – and leaders at every level must set the conditions for that climate to flourish, says Griselda Togobo.
Ethics: don’t forget your processes
  • Article
  • 17 Oct 2023
Strong leadership is key to ensuring yours is an ethics-first organisation, but it won’t work without solid processes and procedures in place – or the buy-in of middle management.
The CFO has a role as the company’s conscience
  • Article
  • 06 Oct 2023
Chartered Accountant and Managing Director of a Global Bank Harshika Patel explains how ethics is truly embedded in the role of the accountant, and how karma will always catch up with bad apples.
Understanding the mindset of fraud
  • Article
  • 06 Oct 2023
Not every fraud is the result of opportunism. There are many reasons – both overtly criminal and misguided but well-meaning – why people turn towards economic crime.
How accountants should help businesses maintain strong ethics
  • Article
  • 29 Sep 2023
An ethically sound operating environment depends upon close collaboration between finance professionals and their businesses or clients. Ethics Standards Committee member Vicky Andrew shares her experiences and highlights useful resources.
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Videos on ethics

The latest ethics related videos, webinars and podcasts from ICAEW. Find expert insight into ethical decision making, speaking up and ethical standards, which will support your professional development.

Watch now
The latest ethics related videos, webinars and podcasts from ICAEW. Find expert insight into ethical decision making, speaking up and ethical standards, which will support your professional development.

Case studies

Case studies created by the UK and Ireland’s Consultative Committee of Accountancy Bodies (CCAB) exploring the ethical dilemmas faced by accountants across a range of sectors and roles.
Ethical dilemmas in the non-for-profit sector
  • Helpsheets and support
  • 22 Feb 2022
Six case studies published by CCAB focused on the ethical dilemmas facing professional accountants working in the not-for-profit sector, covering: disclosure of malpractice, fair tender policies, undisclosed employee benefits, performance information and persuading others to tell the truth.
Ethical dilemmas: working in business
  • Helpsheets and support
  • 22 Feb 2022
Seven case studies from CCAB dealing with some of the ethical dilemmas facing accountants working within businesses, covering: pressure to overstate stock valuation, suspicion of false accounting, non-disclosure to auditors, NOCLAR and more.
Ethical dilemmas in the public sector
  • Helpsheets and support
  • 22 Feb 2022
Six case studies from CCAB dealing with some of the ethical dilemmas facing accountants in the public sector, covering: performance information, political pressure, confidential information available during a tendering process and more.
Ethical dilemmas: working as a NED
  • Helpsheets and support
  • 22 Feb 2022
A series of case studies from CCAB dealing with some of the ethical dilemmas facing accountants working as non-executive directors, covering: governance procedures not being followed, confidentiality and conflict of interest, and pressure to make a decision without adequate information.
Ethical dilemmas: public practice
  • Helpsheets and support
  • 22 Feb 2022
Seven case studies from CCAB dealing with some of the ethical dilemmas facing accountants working in public practice, covering: staff performance issues, improper accounting for sales, conflicting clients' interests, financial interest and more.

Helpsheets

Support from ICAEW's Technical Advisory Services team, covering ethical issues facing members.

Exclusive Power of attorney
  • Helpsheets and support
  • 07 Dec 2023
Technical helpsheet issued to help ICAEW members consider whether or not they can take on a Power of Attorney role and the ethical consideration to make prior to taking such a position.
Exclusive Can I be a trustee/director for my non-audit client?
  • Helpsheets and support
  • 17 Mar 2023
Technical helpsheet issued to help ICAEW members consider the ethical implications of becoming a trustee or director of a non-audit entity client.
Exclusive What is an other entity of public interest (OEPI)?
  • Helpsheets and support
  • 16 Feb 2021
Technical helpsheet issued to help ICAEW members to understand what an other entity of public interest (OEPI) is and when restrictions on providing non-audit / additional services to OEPIs apply from.
Exclusive Working with vulnerable clients
  • Helpsheets and support
  • 28 Jan 2021
Technical helpsheet issued to help ICAEW members recognise vulnerable clients and offers guidance on how to act in their best interests.
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Key topics

Anti-money laundering Guidance and other work that we have done on anti-money laundering law and practice, in the UK and internationally.
Company law
This page covers selected developments in UK companies legislation, prospective legislation and related matters of professional concern to accountants in practice, industry or commerce.
Corporate governance ICAEW and our members promote good practice in corporate governance.
Economic crime Access guidance, resources and tools relating to the prevention of Economic Crime, including Anti-money laundering, Sanctions, Fraud, Bribery and Corruption.
Data protection and privacy All organisations that collect, store or process personal information on living and identifiable people must comply with the Data Protection Act 2018. Additional resources can be found on the GDPR (now the Data Protection Act 2018 in the UK).
Fraud
Fraud is usually taken to mean the gaining of an illicit advantage through deception and in particular the manipulation of financial information or accounting records.
Modern slavery It is estimated there are more than 40 million people in the world living in conditions of slavery or working under forced or compulsory conditions. In the UK, thousands of cases are reported each year, and authorities estimate there are well over 100,000 victims living in the country.
Whistleblowing
An individual in an organisation who makes disclosures in the public interest about dangerous or illegal activities, in order that the misconduct or perceived misconduct can be addressed, is a whistleblower. Whistleblowing can either occur internally within the employing organisation or externally, and should not be used as a method of resolving a personal complaint or grievance.

Representations

ICAEW REP 094-23 UK Corporate Governance Code Consultation
  • Representation
  • 13 Sep 2023
  • PDF (400kb)
A representation dated 13 September 2023 to a consultation published by FRC on 24 May 2023. Restoring trust in the UK’s corporate reporting, governance and audit regime requires a fully ‘joined-up’ approach to reform.
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Webinars

Forensics in audit
  • Webinar
  • 09 Nov 2023
This webinar will help you to better understand the increasing use of forensic auditors and forensic techniques in mainstream audit and the work of forensic specialists more widely.
Ethical decision making and the challenges of AI
  • Video
  • 13 Oct 2023
A group of international experts discuss the benefits and potential pitfalls of artificial intelligence becoming an integral part of the accountancy profession.
Legal Services Regulatory Update: webinar resources
  • Webinar
  • 09 Oct 2023
This webinar was on 12 September 2023. It took listeners through the common issues we are seeing on quality assurance monitoring reviews, a number of regulatory changes that have taken place and a summary of the 2023 Probate Diversity Survey results.
CASS 5 audits – insights and hot topics
  • Webinar
  • 04 Oct 2023
The Financial Services Faculty will provide helpful insights and hot topics specifically focused on CASS 5 insurance intermediary firms.

Ethics CPD course

This free online course helps you apply the Code of Ethics to everyday situations, uphold the highest standards of professional conduct, and satisfy your ethics continuing professional development (CPD) requirements.

Find out more
ICAEW's Ethics CPD course is designed to help you apply the Code of Ethics to everyday situations and uphold the highest standards of professional conduct.

Further resources

icaew communities
Corporate Governance Community
  • Promotional material
Forensic & Expert Witness Community
  • Promotional material
Restructuring & Insolvency Community
  • Promotional material
Solicitors Community
  • Promotional material
library resources
Business law and regulation
  • Listing
Company law
  • Listing
Partnership law
  • Listing
All library law resources
  • Hub page
related topics
Audit reform and trust in business
  • Hub page
Corporate governance
  • Hub page
Gender pay gap reporting: the regulations
  • Helpsheets and support
Professional conduct in relation to taxation (PCRT)
  • Helpsheets and support