PFM Board
Internal and External Audit => External Audit, an essential oversight function => Topic started by: chandra on August 31, 2016, 02:02:14 GMT
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Code of Ethics: Principles, Rules or Both?
By and Large, each and every organisations; be it public sector or Corporate (Private) sector, formulate code of ethics and put it into practice. Such code of ethics are basically of three natures; (1) Principle Based, (2) Rule Based, and (3) Combination of both principles and Rule. More precisely, among these three, principle based code of ethics are in wide use in most of the countries, as per my understanding.
In my view, where society is comparatively more disciplined there may work the principle based code of ethics but in other society such principle based code of ethics woks little. So, in my view, in most of the LDCs and Developing countries where society is not so disciplined due to various factors including hardness to livelihood, principle based code of ethics have remained only in paper. Therefore, we need to think about suitable type of code of conduct, in particular at Supreme Audit Institutions.
Dear Colleagues, Please express your views on this issue.
Hope to receive your views.
Thanking you.