Code of Ethics
International Institute of Finance Professionals
Code of Ethics
All members of the International Institute of Finance Professionals must abide by the IIFP Code of Ethics which is underpinned by ethical principles which should be adhered to in all circumstances.
Integrity is a core value for all members of the International Institute of Finance Professionals because it is an embracing principle which transcends particular circumstances. Members of the International Institute of Finance Professionals should behave in a manner that shows a high level of professionalism which the public expects. An example is that work undertaken should be undertaken on a timely basis. The public bestows confidence in members of the International Institute of Finance Professionals which is not only a reward of membership but also a responsibility.
A major pillar of the International Institute of Finance Professionals is the robust professional knowledge that each member must exhibit. Foundation knowledge is necessary in all finance disciplines and specializations extend that knowledge. The International Institute of Finance Professionals promotes a broad range of knowledge and encourages interdisciplinary education. Fellows and Advanced Members have the educational requirements of two and three respectively related disciplines and therefore are in a strong position to break down traditional knowledge disconnects. Broad based knowledge allows more effective communication and facilitates solutions.
Due Care is an expectation of all International Finance Professionals. Challenges may arise where non professionals could look for short cuts and try to justify why they do not need to exhibit due care. International Finance Professionals need to show the necessary strength of character and fortitude to exhibit due care in all their professional dealings. This type of behavior is why an International Finance Professional is trusted in the global village.
An International Finance Professional is often trusted with personal information and have a responsibility to protect confidential information by adhering to the law and professional responsibilities. Only authorized parties should be allowed access to this information.
As a professional the community trusts an International Finance Professional and they have a responsibility to elevate the public interest above their own interests. Each International Finance Professional must act in a manner that develops the professional public image of the International Institute of Finance Professional.
A pillar of the International Institute of Finance Professional is internationalization and an International Finance Professional is required to respect diversity and with knowledge and understanding contribute in a positive way that shows respect for people. Respect embraces the legal system and following the spirit and not just the letter of the law is a requirement for an International Finance Professionals. Provided laws are followed, members may take different stances on various issues such as how a fee is charged. Fees for service and commissions can both be ethical ways of charging if done appropriately. In respecting others it is important to disclose any conflicts of interest and to appropriately manage them in an open and respectful way.