What to do when facing an ethical conflict?
The professional accountant faced with any of the ethical dilemmas listed on the previous page is in a most uncomfortable position. What should he/she do?
The Code requires the accountant to respond to an issue and gives guidance on how they should consider a response. Inaction or silence may well be a further breach of the Code. It advises us that, when faced with an ethical conflict the professional accountant should consider the following areas in making a plan of action to respond to the issue:
- relevant facts
- ethical issues involved
- fundamental principles related to the matter in question (an ethical conflict often involves more than one fundamental principle)
- established internal procedures
- alternative courses of action