Today’s session with the Grade 11 Accounting students was about the importance of ethics in financial industries.

Ethics can be defined as values, beliefs and moral principles of individuals or groups. They are the accepted principles of right human conduct that promote values such as trust, fairness and kindness.

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Ethical standards within financial environments become important if businesses wish to be trusted and to encourage investment. Unethical business practices destroy the public’s trust in a business and can ultimately destroy a business’s ability to make money.

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So, when the managers or employees deal with cash daily, it is essential that an environment of strong ethical standards exists. In order to achieve such environment, all employees need to be:

  • Carefully selected,
  • Thoroughly trained and informed about how the business defines ethical behaviour, and the consequences of unethical behaviour,
  • Regularly reminded of the business policies and principles about ethics.

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The students enjoyed practicing their newly acquired concept.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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