Preamble

  1. The Definitions and Interpretations in the memorandum and articles (Constitution) and by-laws apply to this Code of Ethics.

  2. “The Code” means this code of ethics.

  3. The unethical or inappropriate or unprofessional behaviour or conduct of only one member can seriously damage the prestige of being a member of the Institute.

  4. The privilege of membership casts upon all members a personal obligation to maintain the high standard of professional conduct, which is demanded by the Institute and expected by the public generally and the business community in particular.

  5. This is especially true in situations where members of the public may have come to rely on members for truth and fairness in all matters relating to the credit profession.

  6. Every member should regard it as his duty to observe this obligation and to avoid any action, which might be regarded as unprofessional conduct.

  7. It is acknowledged that even senior members may err in interpretation of a matter requiring ethical considerations and all members will find guidance in a written code of ethics.

  8. It is in the interests of the Institute and all of its members that breaches of this Code will be investigated and appropriate action taken.

  9. The adoption of a code of ethics does not of itself ensure that the standard of conduct set down will be maintained.

  10. If a code is to be effective, provisions must be made to enable disciplinary action to be taken against members who breach its provisions, and to enable sanctions and penalties to be imposed.

  

COMPLIANCE with articles and by-laws

  1. Every member is bound to observe the articles and by-Laws in force from time to time.

 

code mandatory

  1. The Code in force from time to time is mandatory and must be observed by all members 


Furtherance of the Objects, etc of the Institute

  1. Every member is bound to further to the best of his ability the objects, interests and influence of the Institute.

Complaints procedures

  1. The by-laws of the Institute contain Complaints procedures, which will be used for reporting breaches of the` Code'.

Sanctions and Penalties for Breaches

  1. The articles and by-laws of the Institute contain a guide as to the kinds of sanctions and penalties, which may be imposed, on a member in breach of the articles, by-laws or the `Code’.

  2. Every member is bound to pay and make good to the Institute any loss or damage which the Institute may sustain through the wilful act or default of such member, if such act or default is a breach of any provision of the articles, by-laws or the `Code’.

  3. Any loss or damage sustained through the wilful act or default of a member is recoverable in a court of competent jurisdiction as a debt due to the Institute.

 

Use of Post Nominals/Designatory Letters

  1. Subject to the articles and by-laws, members may be entitled to the use of certain of the post nominals/designatory letters as determined by the Institute.

  2. No member shall permit to appear on letterheads, business cards, or any other documents or memoranda whether in writing, electronically or otherwise, any designatory letters of the Institute other than those to which he is entitled under the articles and by-laws.

  3. There is no restriction on the use of the post nominals/designatory letters of the Institute together with any other designatory letters indicating awards from or membership of any other recognised body.

  4. The post nominals/designatory letters awarded by the Institute are relevant only in Australia and when being used outside Australia should be followed by the word “Australia” or “Aust” to indicate the source of authority for their use.

 

Competency and Efficiency

  1. Every member shall foster the highest possible standards of professional competence and efficiency in himself and amongst those to whom and for whom he is responsible.

  2. Every member shall make the best possible use of the people and finance for which he is responsible, so as to provide the maximum possible benefit to his employer.

  3. Every member shall continually seek to maintain and upgrade his skills and levels of competency in order to offer the highest possible standards to both the Institute and any employer of the member.

 

Compliance with Law and Contractual Obligations

  1. Every member shall comply with both the letter and the spirit of any law of any jurisdiction in which he is employed, practises or has contractual obligations.

  

Use of Office or Position for Personal Gain

  1. A member cannot use his position or office for personal gain or advantage either directly or indirectly

  2. A member cannot publish any material or act as a speaker on behalf of the Institute without the consent of the Board first being given to the member in writing.

  3. A member who publishes any material, or acts as a speaker, presenter, lecturer, trainer or assessor or similar, will not hold himself out in any way as acting on behalf of, or with the approval, accreditation, endorsement or recognition of the Institute without the consent of the Board first being given to the member in writing.

  4.  A bare statement of offices held in the Institute does not constitute a breach of this `Code’.

  5. The mere fact that a member has been a speaker, presenter, lecturer, trainer or assessor or similar for the Institute does not constitute the holding of an office within the meaning of clause 29 of this `Code’.

 

Declaration of Interest

  1. Any personal interest, whether pecuniary or otherwise, which may impinge on a member’s impartiality in any matter relevant to his duties either as an employee or as a member or Councillor or Director or as the holder of any other office within the Institute or while acting as a servant, fee for service provider or agent or in any other way on behalf of the Institute, shall be declared to the relevant body.

 

Confidentiality and Accuracy of Information

  1. The confidentiality of information received by a member in the course of his duty either as an employee or as a member or Councillor or Director or as the holder of any other office within the Institute or while acting as a servant, fee for service provider or agent or in any other way on behalf of the Institute shall be respected and not used for personal gain or advantage. 

  2. Information given by a member in the course of his duty either as an employee or as a member or Councillor or Director or as the holder of any other office within the Institute or while acting as a servant, fee for service provider or agent or in any other way on behalf of the Institute in the course of a member’s employment shall be true to the best of his knowledge and belief and fair and not designed to mislead.

 

Integrity and Propriety

  1. Members shall maintain a high standard of integrity in all their business relationships both inside and outside the organisations in which they are employed either as an employee or principal.

  2. Members shall reject any business practice, the propriety of which is open to doubt.

  3.  Members will have regard to any guidance on professional practice as may be issued by the Board from time to time either by way of by-law or otherwise.

 

Competition

  1. Bearing in mind the advantages to a member’s employer of maintaining a continuing quality relationship with customers, any arrangement, which might interfere with the principles of fair competition, must be avoided.

  2. Without his employer’s approval, a member shall not enter into any arrangement with any customer of the employer’s business, either on his own behalf or on behalf of his employer, which might prejudice the future conduct of any business dealing between the employer and the customer, or the terms and conditions of that business dealing.

 

Business Gifts, Hospitality and Commissions

  1. Members should not accept gifts or hospitality of any kind that might, or might appear to, compromise their business decisions.

  2. As a guide, members should not accept any gift of great intrinsic value.

  3. As a guide, members should not accept hospitality of a scale or frequency that they or their employers are not in a position to return. 

  4. When there is any doubt as to the acceptability of a gift or certain hospitality, guidance should be sought from the member’s superior.

  5. In accordance with law, members shall not accept either directly or indirectly, any secret commission.

 

Ethical Behaviour 

  1. Members will conduct themselves at all times in a manner consistent with the good reputation of the profession and the Institute.

  2. Members will refrain from any conduct that might bring discredit upon themselves, the profession or the Institute. 

  3. Members shall comply at all times with the articles and by-laws of the Institute, and this ‘Code’. 

  4. Members shall abjure the practice of “white knighting” in relation to credit references and credit reports.

  5.  Members may approach the Board for guidance in relation to any matter of ethical behaviour.