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It provides a common set of rules or standards for all in the profession to adhere to. It defines best practices for the profession. It provides a basis to meet compliance requirements for the profession. It provides a legal standard for the profession.

Types of Code of Ethics There are two types of codes of ethics exist: compliance-based and integrity-based. Compliance-based ethics are a set of specific rules meant to protect businesses and employees from legal repercussions due to violating laws.

Generally, both are combined into a single document, and an organization rarely has a different code for each. A code of conduct in practice can range from big picture ideals to specific rules.

Integrity: To behave in ance with ethical principles, and act in good faith, intellectual honesty and fairness. Accountability: To take responsibility for one's actions, decisions and their consequences.

Principle of Ethics II Individuals shall honor their responsibility to achieve and maintain the highest level of professional competence and performance.

A code of ethics or ethical code refers to a set of guidelines, standards, and principles that a company adopts and that must be adhered to by its workers. A code of ethics is usually in a written form. It is a document that outlines the core values and ethics of a business that professionals must live by.

The most important benefit of a code of ethics is that it can foster an environment of trust, ethical behavior, integrity, and excellence.

Some scholars distinguish a code of practice from a code of conduct. A code of conduct is defined as a practical document of standards governing client relationship, and a code of practice, as a technical document setting standards for the members of a profession.

A code of conduct is a set of rules that businesses use to keep the behaviour of their employees in check.Often mixed up with a code of ethics, the code of conduct refers specifically to behaviour, whilst the ethics provides guidance on the decision-making skills that your employees need when they are working.

Codes of conduct specify actions in the workplace, and codes of ethics are general guides to decisions about those actions.