Table of Content
The students who have to write a report assignment comparing Code of Ethics for Professional Accountants with Banking Code of Practice, you are at the right place. The accounting assignment help providers at My Assignment Services will answer to your every problem and we are going to tell you what you need to know to write this report assignment.
This blog post is divided into two sections. The first will talk about the Banking Code of Practice and the other will discuss the Code of Ethics for Professional Accountants, in a way that is useful to write this assignment.
The Australian Banking Association has released a Banking Code of Practice that defines the standards for the working of the staff in a bank. There are many components of this code that you should be aware of in order to use this code to write your assignment.
You, if you are -
A person who is a customer when the bank provides the banking service
A guarantor
The bank you have an account with if they have signed up to the code
The banks following the Banking Code of Practice must abide by the code under all circumstances. If in a situation, the bank is obliged to follow the code and also the law, then the bank will follow the code unless it breaches the law.
The bank who is following the Code must take care of the two factors. They should be inclusive towards all - older customers, people with disability, Indigenous Australians (even in remote locations). The staff is also expected to treat everyone with sensitivity, respect and compassion.
The banking services should be accessible to everyone, especially for older customers and people with disability.
The bank has to take into account various factors and conditions before they are approving the loan of an individual or a small business. These include -
Complying with the law to offer loan
Assess the ability of the borrower to repay the loan
Verifying various factors to assure that you are eligible to be a co-borrower
These are just some of the areas that you need to be aware of to write about the Banking Code of Practice.
This Code of Ethics defines the founding principles that the Members have to comply with. These fundamental principles are -
Integrity
Objectivity
Professional competence and due care
Confidentiality
Professional behaviour
The Code also gives us a conceptual framework. This framework is applied by the Members for identifying, measuring and mitigating the obstacles in complying with the fundamental principles.
There are 3 parts of the Code that are applied to different people offering a different type of accounting services.
Part 1 is all about the conceptual framework and the fundamental principles. Thus, it is applicable to all members.
Part 2 is applicable to the Members in business while offering their professional services.
Part 3 is for the Members in a public practice providing professional services.
The Members are expected to follow the Code. Should a condition arise where the laws may be an obstacle to a person following the Code (or certain parts of it), the Members have to comply with the other parts of the Code and can choose to ignore the Code where the law prevails.
All members have to comply with all the fundamental principles.
The accounting assignment experts with My Assignment Services are aware of the similarities, differences, the need for the Codes and all other factors that are needed to write the assignment answer.
If you have any doubt within any section or need a professional to explain these Codes, then you can ask our experts for a personalised tutoring session. And if you want a fully solved assignment answer that you can refer to, that you can request that as well!
Hello! My name is Breton Nokia and I am Juris Doctor (JD) from a prestigious law school. I am a prominent corporate attorney at a top New York law firm. I specialize in corporate law and have successfully negotiated highly successful mergers and acquisitions which resulted in my first title award of “Lawyer of the Year. I am excited to work with an Online Assignment Expert and share my knowledge with all the law students who are here to learn something new and insightful.
Trending now
The Student Corner
Subscribe to get updates, offers and assignment tips right in your inbox.
Popular Posts
Popular Posts
Doing your Assignment with our samples is simple, take Expert assistance to ensure HD Grades. Here you Go....
🚨Don't Leave Empty-Handed!🚨
Snag a Sweet 70% OFF on Your Assignments! 📚💡
Grab it while it's hot!🔥
Claim Your DiscountHurry, Offer Expires Soon 🚀🚀
Loved reading this Blog? Share your valuable thoughts in the comment section.
Add comment