Training Course on Ethics in Accounting and Financial Management

Course Outline

Module 1: Foundations of Ethics in Accounting and Finance

ü  Defining ethics and its importance in the financial world

ü  The relationship between ethics, law, and regulation

ü  Key ethical principles: Integrity, Objectivity, Confidentiality, Competence, Professional Behavior

ü  Stakeholder theory and ethical responsibilities in finance

ü  Practical Session: Analyzing historical accounting scandals and their ethical root causes

Module 2: Ethical Theories and Decision-Making Frameworks

ü  Overview of major ethical theories (Utilitarianism, Deontology, Virtue Ethics)

ü  Applying ethical theories to accounting and finance scenarios

ü  Structured models for ethical decision-making

ü  Cognitive biases and their influence on ethical judgment

ü  Practical Session: Using a decision-making model to analyze a complex ethical case study

Module 3: Professional Codes of Conduct and Standards

ü  Overview of key codes (e.g., IFAC, AICPA, IMA, CFA Institute)

ü  Core principles and specific rules within the codes

ü  Application of codes to specific situations (e.g., conflicts of interest, independence)

ü  Disciplinary procedures and consequences of code violations

ü  Practical Session: Role-playing scenarios requiring application of specific code provisions

Module 4: Identifying and Navigating Ethical Dilemmas

ü  Recognizing potential ethical conflicts in practice

ü  Distinguishing between ethical dilemmas and technical issues

ü  Frameworks for analyzing and resolving dilemmas

ü  The role of professional skepticism

ü  Practical Session: Group discussion and brainstorming solutions for presented ethical dilemmas

Module 5: Ethics in Financial Reporting and Disclosure

ü  Ethical issues in revenue recognition and expense management

ü  Transparency and fairness in financial statement presentation

ü  Ethical considerations in estimates and judgments

ü  Off-balance sheet financing and special purpose entities: ethical implications

ü  Practical Session: Evaluating mini-cases involving aggressive accounting practices and disclosure choices

Module 6: Ethics in Management Accounting Practices

ü  Ethical challenges in budgeting and forecasting

ü  Performance measurement manipulation and gaming

ü  Ethical considerations in cost allocation and transfer pricing

ü  Confidentiality of internal management information

ü  Practical Session: Case study on ethical pressures faced by management accountants in decision support

Module 7: Corporate Governance, Control, and Ethics

ü  The role of the board of directors and audit committees in ethical oversight

ü  Internal controls as an ethical safeguard

ü  Ethical leadership and setting the "tone at the top"

ü  Executive compensation and ethical considerations

ü  Practical Session: Developing an outline for an ethical corporate governance policy

Module 8: Fraud Prevention, Detection, and Response

ü  Understanding the fraud triangle (Pressure, Opportunity, Rationalization)

ü  Common types of accounting and financial fraud

ü  Internal controls specifically designed for fraud prevention

ü  The role of auditors (internal and external) in fraud detection

ü  Practical Session: Workshop on identifying red flags and indicators of potential fraud

Module 9: Whistleblowing, Compliance, and Legal Considerations

ü  Internal and external whistleblowing mechanisms

ü  Legal protections and ethical responsibilities for whistleblowers

ü Developing and implementing effective compliance programs

ü  Responding to regulatory investigations

ü  Practical Session: Evaluating different scenarios involving potential whistleblowing decisions

Module 10: Cultivating an Ethical Organizational Culture

ü  The importance of an ethical culture beyond compliance

ü  Strategies for promoting ethical awareness and behavior (training, communication)

ü  Measuring and monitoring the ethical climate

ü  Addressing emerging ethical challenges (e.g., AI, sustainability reporting)

ü Practical Session: Developing an action plan for enhancing ethical culture within a department or organization

Requirements

ü  Participants should be reasonably proficient in English. 

ü  Applicants must live up to Phoenix Center for Policy, Research and Training admission criteria.

Terms and Conditions

1. Discounts: Organizations sponsoring Four Participants will have the 5th attend Free
2. What is catered for by the Course Fees: Fees cater for all requirements for the training – Learning materials, Lunches, Teas, Snacks and Certification. All participants will additionally cater for their travel and accommodation expenses, visa application, insurance, and other personal expenses.
3. Certificate Awarded: Participants are awarded Certificates of Participation at the end of the training.
4. The program content shown here is for guidance purposes only. Our continuous course improvement process may lead to changes in topics and course structure.
5. Approval of Course: Our Programs are NITA Approved. Participating organizations can therefore claim reimbursement on fees paid in accordance with NITA Rules.

Booking for Training

Simply send an email to the Training Officer on training@phoenixtrainingcenter.com and we will send you a registration form. We advise you to book early to avoid missing a seat to this training.

Or call us on +254720272325 / +254737566961 

Payment Options

We provide 3 payment options, choose one for your convenience, and kindly make payments at least 5 days before the Training start date to reserve your seat:

1. Groups of 5 People and Above – Cheque Payments to: Phoenix Center for Policy, Research and Training Limited should be paid in advance, 5 days to the training.
2. Invoice: We can send a bill directly to you or your company.
3. Deposit directly into Bank Account (Account details provided upon request)

Cancellation Policy

1. Payment for all courses includes a registration fee, which is non-refundable, and equals 15% of the total sum of the course fee.
2. Participants may cancel attendance 14 days or more prior to the training commencement date.
3. No refunds will be made 14 days or less before the training commencement date. However, participants who are unable to attend may opt to attend a similar training course at a later date or send a substitute participant provided the participation criteria have been met.

Tailor Made Courses

This training course can also be customized for your institution upon request for a minimum of 5 participants. You can have it conducted at our Training Centre or at a convenient location.

For further inquiries, please contact us on Tel: +254720272325 / +254737566961 or Email training@phoenixtrainingcenter.com  

Accommodation and Airport Transfer

Accommodation and Airport Transfer is arranged upon request and at extra cost. For reservations contact the Training Officer on Email: training@phoenixtrainingcenter.com or on Tel: +254720272325 / +254737566961