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conflict resolution
. 
At all stages it is recommended that members document the substance of the issue and all discussions 
and decisions made. 
YES
NO 
Consider: 

The relevant facts 

Fundamental 
principles 

The 
ethical 
issues 

Any internal procedures available 
Consider alternative courses of action and 
consequences of each 
Select a course of action 
consistent with the fundamental 
principles 
Consult with appropriate 
persons within the organisation. 
This may include directors or 
the audit committee 
If all possible solutions are 
exhausted, consider refusing to 
be associated with the matter 
Obtain professional advice from 
the professional body or legal 
sources. 
Do not
breach 
confidentiality rules. 
Is the matter resolved? 
Is the matter resolved? 
NO 
NO 
Does the resolution require 
breach of confidentiality? 
Matter resolved 
Seek legal advice 
before continuing 
Change roles or departments (if possible)
Resignation (if no other option) 
YES
YES
NO
YES
Is the matter resolved? 
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PART F: PROFESSIONAL ETHICS IN ACCOUNTING AND BUSINESS 
 
506
 
PER performance objective PO1 requires you to apply professional ethics, values and judgement. The 
material covered in this chapter will help you achieve this.
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CHAPTER 19
//
ETHICAL CONSIDERATIONS 
 
507 

 
There are three main sources of rules that regulate behaviour of individuals and businesses. These are: 
– The 
law 
– 
Non-legal rules and regulations 
– Ethics 

 
Organisations are not autonomous; they exist to serve some external purpose, usually manifested in a 
group such as shareholders in a company or trustees of a charity. In particular, the