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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

76 ai
Insights from CFOs on ethics
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.
Supporting accountants

Ethics and AI

In 2024, ICAEW’s Trust and Ethics Team hosted roundtables on shaping guidance for the accountancy profession on the ethical use of artificial intelligence. Read an overview of the discussions, offering insights into real-life use cases and the risks that must be managed.
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Support

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.
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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

Get ready: ICAEW Code of Ethics to change in 2025
  • Article
  • 18 Dec 2024
ICAEW’s code is being updated to align with the Code of Ethics produced by the International Ethics Standards Board for Accountants.
Professional Conduct in Relation to Taxation: a tax perspective on ethics
  • Article
  • 29 Nov 2024
ICAEW’s Conduct Department is dealing with a growing number of disciplinary cases related to poor conduct in relation to tax matters. We look at the key role played by Professional Conduct in Relation to Taxation (PCRT) in setting boundaries and supporting members and firms in meeting their professional and ethical obligations by providing guidance.
What it takes to be an effective NHS CFO
  • Article
  • 26 Nov 2024
A new statement by HFMA explains how NHS CFOs can ensure the delivery of safe, effective and sustainable healthcare services.
The new Code of Ethics: understanding professional behaviour
  • Article
  • 19 Nov 2024
As part of the updated Code of Ethics for 2025, the provision for professional behaviour has been reworded to reflect the modern world.
BDO’s Ethics Watermark tackles AI’s new frontier
  • Article
  • 13 Nov 2024
BDO senior leaders reveal to ICAEW members how the firm’s ‘ethics by design’ framework is meeting the artificial intelligence challenge.
AI and ethics: could finance become too reliant on AI?
  • Article
  • 06 Nov 2024
As AI is more widely adopted, researchers are concerned that finance teams might farm out too many tasks to the technology at the expense of professional judgement and scepticism.
Exclusive Ethical and legal considerations
  • Article
  • 21 Oct 2024
When deploying a new AI tool, ethical and legal risks need to be carefully considered and managed.
AI adoption challenges: an ethical dilemma for auditors
  • Article
  • 16 Oct 2024
Artificial intelligence offers a lot of opportunities for audit firms and practitioners, but implementing AI solutions into audit functions comes with some complicated considerations.
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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

Revised Ethical Standard 2024
  • Webinar
  • 14 Nov 2024
The FRC’s 2024 Revised Ethical Standard comes into effect on 15th December 2024. This Audit and Assurance Faculty webcast will highlight the key changes introduced in the revisions, explore some of the requirements in more detail and highlight some emerging issues for firms to consider.
Navigating New Regulations: MiCA and Stablecoins in Europe’s Digital Asset Landscape
  • Webinar
  • 12 Nov 2024
This webinar will cover Title III and Title IV of the MiCA regulation, which outline the regulatory environment for stablecoins and stablecoin issuers in the EU.
Exclusive Companies House reform: accounts and filing aspects
  • Webinar
  • 25 Sep 2024
This webinar offers an opportunity to hear from Companies House on changes to UK company law. As well as providing a broad overview of the Economic Crime and Corporate Transparency Act, the webinar focuses on accounts reform aspects, including changes to filing requirements.
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.

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