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What Is Business Ethics?

In: Business and Management

Submitted By Bokkie21
Words 669
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What is Ethics?

Ethics is about values, consistently making decisions to be the best person you can be. Eudemonia is a type of happiness, one that only comes from an active well-being by living virtuously.
The career of a CAs(SA) involves a great amount of acquired skills, but also the capacity for others to instill their trust. Trust is a value only placed in people of strong moral principle and integrity. The motto of SAICA is “Integritas” meaning ‘totality’,’ integrity’ and for accountants and auditors integrity is without a doubt a non-negotiable ethical value.
It is possible for ethics and values to be non-negotiable. The IFRS has been adopted in over 100 countries, although the same cannot be said for ethics. Even though different countries and businesses around the world are creating and adopting their own ‘Code of Conduct for Ethical Behaviour’, there is no organisation to enforce a Globe Code with international ethical standards to guard public and corporate interest.
Without a set of ethical codes, a company cannot presume that other organizations around the world act under the same array of ethical standards and codes as they do, and it could ultimately lead to the diminished merit of financial statements that are prepared using the IFRS.
Often people are inclined to go down a road that challenges their ethical values because it appears to be less confrontational, easier than the alternative and more beneficial. People fail to think for the long term, past their ambitions for money, power and success and instead focus on their conscience, their sense of self worth and self preservation and ultimate contentment.
Loyalty is another moral quality widely valued among people and it is an essential part of team-building, negotiating and trading and is the cornerstone for trust in partnerships. Loyalty is also an important social/personal value that...

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