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ACCA Applied Knowledge · Business and Technology · Corporate codes of ethics

Which of the following best describes a rules-based approach to professional ethics?

A rules-based approach relies on detailed, specific requirements stating what professionals must and must not do. It gives clear and consistent guidance with little room for interpretation, unlike a principles-based approach, which relies on broad principles and professional judgement.

  1. AProfessionals follow detailed, specific requirements that state what must and must not be doneCorrect
  2. BProfessionals apply broad fundamental principles using their own judgement to the facts of each situation
  3. CProfessionals follow whatever the prevailing culture of their employer considers acceptable

Explanation

A rules-based approach sets out specific, prescriptive requirements that leave little room for interpretation. The second option describes a principles-based approach. The third describes organisational culture, not a formal ethical approach.

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