Its high time now and business ethics should be incorporated and made a must for all the professionals all over the world. And hence recognizing the critical role of ethical values and standards on protecting the public interest, the International Federation of Accountants (IFAC) has developed new proposed guidance for corporate accountants and management worldwide.

For this purpose, it had appointed a Professional Accountants in Business (PAIB) Committee to issue a draft, Guidance for the Development of a Code of Corporate Conduct. The draft proposes guidance to assist professional accountants and others in establishing and implementing codes of conduct in their organizations. The draft may be viewed by going to http://www.ifac.org/EDs

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