- The APESB are proposing revisions to GN 40
- The changes will assist members dealing with ethical misconduct in the workplace
- An ethical toolkit can help members be prepared to deal with ethical issues
The recent disclosures of poor ethical behaviour across the financial services and health care sectors have highlighted that when ethical conflicts occur, the majority of individuals find it challenging to address the situation or had not identified that there was a problem in the first place. As members of a professional accounting body, qualified accountants are expected to act in the public interest. This responsibility carries with it the need to consider how to address ethical misconduct when you come across it.
Analysing ethical conflicts early can prevent matters from getting out of hand or becoming harder to address. Therefore, it is important to be prepared and have an ‘ethical tool kit’ in place in the event you have to deal with an ethical conflict.
In this article, Channa Wijesinghe, FCA and Jacinta Hanrahan, CA, from the APESB highlight how the proposed revised guidance in APES GN 40 Ethical Conflicts in the Workplace – Considerations for Members in Business (APES GN 40), including recent developments in the Code and legislative environment for Non-compliance with Laws and Regulations (NOCLAR), inducements and whistleblowing, can assist members in dealing with ethical misconduct and conflicts when they occur.