Tag Archives: Governance

Good Ethics is Good Governance!

photo from cornerstoneondemand.com

photo from cornerstoneondemand.com

The CIMA Code of Ethics is one of those areas you tend to gloss over when studying. It’s not really something I focused on particularly when studying for my E1 exam but after preparing for the Operational Case Study I realised that you can score easy marks by thinking about Ethics in pretty much any scenario.

But trying to remember all of the models and accounting standards can be a minefield. But I found a useful acronym on remembering the key principles of the CIMA code of ethics.


I remember this by thinking of alcohol (which usually comes to mind after hours of study and revision) and the drinks optic that’s attached to a bottle of gin or vodka. It stands for:

Objectivity – to look at things from a fair and unbiased point of view and not allowing personal factors to influence decision making.

Professional Competence – having the knowledge and skills required to adequately perform the tasks expected of you.

Professional Behaviour – acting in a manner that is befitting of a professional organisation.

Technical Standards – meeting the standards required by working at a specific organisation.

Integrity – an uncompromising and predictably consistent commitment to honour moral, ethical, spiritual and artistic values and principles.

Confidentiality – an expectation to keep sensitive information private.

Ethics in action

Ethics can cover such a broad range of areas too. Almost any topic in the CIMA syllabus you can relate back to ethics. Whether it’s a decision on the product mix of a company or the proposed outsourcing of an area of the business – you can tie it all up with ethics and score some marks in the process.

It wasn’t until I was watching some of the case study preparation videos from Astranti until I realiased that I could be missing out on easy marks by not covering ethics properly.

In fact the title of this post was mentioned in the Astranti text when I was preparing for the OCS “Good ethics is good governance!” was mentioned, And it’s a great point to remember – especially if faced with a governance question in the exams – as it’s the ideal time to refer back to the CIMA code of ethics.

I am also sure (well, maybe more hopeful) that the CIMA exam marker would be a happy marker if they saw students can refer back to the CIMA code of ethics. And a happy marker will hopefully be a generous marker.