What is a primary responsibility of ICAEW members regarding ethical breaches?

The primary responsibility of ICAEW (Institute of Chartered Accountants in England and Wales) members regarding ethical breaches is to report all breaches of ethics. This commitment is foundational to maintaining the integrity and professionalism of the accountancy profession. Reporting breaches ensures that ethical standards are upheld and that any wrongdoing is addressed appropriately, thereby protecting the public interest, maintaining trust in the profession, and safeguarding the reputation of individual members and the institute as a whole.

By emphasizing the need to report all breaches, the ICAEW reinforces the idea that ethical behavior is non-negotiable and must be prioritized. This obligation helps to foster an environment of accountability and transparency within the field, encouraging members to act in accordance with the highest professional standards.

In contrast, discussing breaches publicly, ignoring minor breaches, or informing competitors would undermine the ethical framework and could lead to greater issues within the profession. These actions would not contribute to a culture of ethics and accountability that the ICAEW seeks to promote.