Rules or Principles

NotesQuizObjective Test

CIMA ethics code is based on principles

Advantages of using Principles

  • Makes the user think about ethics rather than just a list of rules

  • Stops people finding loop-holes to the laws

  • Can be used in many situations

  • Can contain certain rules where principles are not enough

  • Shows the minimum standards

Disadvantages of using Principles

  • Needs a very good understanding of the principles

  • Doesn't take into account regional and cultural differences

  • Difficult to legally enforce

NotesQuizObjective Test