Ethical And Professional Standards - Ethical And Professional Standards Section 1

People tend to believe they are more ethical than they actually are.

People tend to underestimate their own morality.

People tend to underestimate the impact of situational influences

Money and prestige prod people to act in their own self-interests and take actions that are less ethical.

Loyalty to employer and colleagues can only have a positive effect on one’s ethical behavior.

Processes focused solely on compliance simplify decision making and help the larger cause

Ethical firms are subject to higher costs as compared to less ethical firms.

Investors expect a lower return on their capital when they lose trust.

Lack of trust in financial markets can lower investments consequently harming society.

Make appropriate choices even in the absence of clear laws.

Restrict one’s behaviour to what is legally acceptable.

Make sensible decisions that minimize the risks to one’s employer only