Ancillary objects of the Institute, in terms of Section 3(2) of the Institute’s Memorandum of Association, are the following:
- to represent the views of the profession;
- to preserve and maintain the integrity and status of the profession;
- to take any steps which may be considered necessary to suppress dishonourable conduct and practices by members of the profession, and for this purpose to hold enquiries into the conduct of members;
- to consider and deal with all matters affecting the professional integrity of the members of the Institute".
- The Board considers that a statement of general principles, which should be observed by members, will be of assistance to members in maintaining the highest standards of integrity and independence fundamental to the profession of Public Finance Practitioners.
- Members should at all times conduct themselves in accordance with the standard expected of members of the Institute. This can only be accomplished through complete honesty, integrity and objectivity.
- Members are expected to:
- aspire to achieve the highest standard of professional knowledge throughout their careers and encourage members in the furtherance of their professional;
- contribute to the affairs of the Institute by serving on working parties, attending meetings of the Institute, Branches and Students' Interest Groups and submitting articles for publication in the Institute's journal;
- adhere strictly to accounting standards and requirements for public sector published by the Institute from time to time;
- Adhere to all relevant provisions of Public Sector pertaining to Code of Conduct.
- Members serving in local or related authorities and similar public bodies must observe the laws relating to those bodies, in particular any provisions concerning disclosure of interest.
- The principle to be followed is that at all times the interests of the employer body are paramount and under no circumstances may a member seek to benefit from any profit or commission arising directly or indirectly from a transaction in which the authority has an interest, whether or not the authority may be adversely affected thereby.
Hospitality and Gifts
The acceptance of gifts, other than gifts of such minor nature as to be mere tokens, is not considered by the Institute as proper for a public official, whether or not such gifts influence or are intended to influence him/her in his/her work or service in the Institute.
Members should guard against any relationships, be it personal or business, whereby the conduct of the member’s professional duties maybe compromised.
Advice to PUBLIC SECTOR
- The duty of the member is to promote the financial well-being of the organisation they serve and, when necessary, to advise openly and clearly upon the financial consequences of any proposed course of action.
- Members must comply with all legal requirements and ensure that the law is applied in all activities with which they are directly concerned or of which they may have knowledge.
- An employee of a public sector frequently has access to and acquires confidential information which should be divulged only to those persons entitled to receive it.
- The use of confidential information for the private advantage of the employee or another person or body is a breach of trust.
Members are advised to seek the advice of the Board should there be any doubt about the propriety of a particular situation or course of action.