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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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Global Ethics Day

ICAEW celebrates Global Ethics Day each year. The 2024 theme is "Ethics empowered: using the power of ethics to build a better world”, and ICAEW is examining the vital role ethics must play in the development of technology.
Find out more
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
Support

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.
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Articles and features

Navigating ethics in a changing world
  • Article
  • 16 Aug 2024
Raising awareness of Global Ethics Day, ICAEW is holding an event on 23 October in the Great Hall at Chartered Accountants’ Hall to highlight the importance of ethical culture and governance.
Probate News, Issue 24 Sign up to our Legal Services Update webinar, give your view on ICAEW’s proposed fee scales for 2025 and use our consumer guides as a resource for your clients. We also share upcoming changes to professional indemnity insurance requirements and the ICAEW Code of Ethics.
The role of ethics within AI to combat modern slavery
  • Article
  • 05 Jul 2024
We complete our iEARTHS miniseries journey through an ethical lens. The ethical risks and challenges are real and require thoughtful reflection to protect what really matters: vulnerable individuals.
IoD code of conduct for directors needs teeth, ICAEW warns
  • Article
  • 26 Jun 2024
ICAEW expresses concerns about the effectiveness of a voluntary code with no enforcement mechanism or register of signatories.
IESBA delegation talks ethics strategy with ICAEW
  • Article
  • 24 May 2024
Key figures from IESBA and ICAEW meet to discuss important developments in the ethics space and explore areas of mutual interest and joint cooperation.
The enduring role of the accountant
  • Article
  • 22 May 2024
In his speech at the recent ICAEW Annual Dinner at Chartered Accountants' Hall, ICAEW President Mark Rhys outlined the continuing relevancy of accountancy to some of the biggest global challenges, and the need for the profession to continue to evolve.
Exclusive Elevating ethical standards
  • Article
  • 14 May 2024
The FRC’s 2024 Ethical Standard will affect small firm policies, procedures, staff and partners. Julia Penny highlights some key considerations.
Ethical AI use: the way forward
  • Article
  • 10 May 2024
Ahead of the launch of ICAEW’s AI and Ethics CPD module, a series of round tables have highlighted how effective mitigations are needed to ensure AI can be used appropriately and effectively.
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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.
ICAEW training films
  • Promotional material
  • 13 Sep 2017
ICAEW training films provoke discussions and challenge mindsets about how to deal with difficult decisions and topical issues in business situations. Develop skills to identify risk, technical competence and professional scepticism.

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.
UK company law
Resources include relevant ICAEW technical releases, such as guidance on dividends and distributable profits, and updates on key developments in regulation, 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 legislative developments, anti-money laundering, fraud, bribery and corruption, and modern slavery.
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

Legal Services regulatory update: webinar
  • Webinar
  • 04 Sep 2024
  • PDF (543kb)
ICAEW's Quality Assurance Department took listeners through the recent common issues we are seeing on quality assurance monitoring reviews. We also heard from the Chair of the ICAEW Legal Services Committee, Miranda Winram, on the role of the committee and the committee's perspective on some of these common issues. The webinar concluded with a look at the current regulatory landscape, presented by the Regulatory Policy team.
Exclusive AI: The Evolving Frontier of Opportunities and Risks
  • Webinar
  • 20 Jun 2024
This webinar will provide you with a range of perspectives, setting out the legal and regulatory framework and ethical considerations, alongside practical experience from in-house experts.
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.

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
Law and regulation
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