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Selflessness
Individuals should act solely in the public interest and not for personal gain or that of friends and 
family. 
(b)
Integrity
Individuals should avoid actions which would place them under financial or other obligations 
whereby the person holding their obligation could influence their public duties. 
(c)
Objectivity
All choices, especially those regarding awarding contracts, rewarding or providing benefits to 
others and making public appointments must be made purely on merit. 
(d)
Accountability
Individuals are responsible for their own actions and are accountable to others. They must 
subject themselves to whatever scrutiny comes with their office.
 EXAM FOCUS POINT 
Candidates often perform poorly in questions about corporate codes of ethics. Make sure that you are 
clear on what a typical corporate code of ethics might include.
BPP Tutor Toolkit Copy

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PART F: PROFESSIONAL ETHICS IN ACCOUNTING AND BUSINESS 
 
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(e)
Openness
Individuals must be open about their decisions and actions. Information regarding the reasons for 
their decisions must be freely available. Restrictions on information are only permitted when it is 
in the wider public interest. 
(f)
Honesty
Where individuals have private interests which relate to their public ones, they should declare 
them and seek to resolve any conflict to protect the public interest. 
(g) 
Leadership
Individuals must promote and respect the other six principles through leadership and example. 
Accountants must also follow these principles. Where they appear to be in a situation which 
conflicts
with their legal, regulatory or other ethical frameworks they must ensure their concerns are heard. 
4.4 Two approaches to managing ethics 
There are two suggested approaches to the management of ethics in organisations.

Compliance 
based 

Integrity 
based 
4.4.1 Compliance-based approach 
A compliance-based approach is primarily designed to ensure that the company