For CFOs to make sure they uphold the greatest levels of professionalism, integrity, and ethical conduct in their work, the GFOA’s Code of Professional Ethics offers direction and principles. It urges CFOs to prevent conflicts of interest, safeguard privacy, and uphold public trust while emphasizing the significance of honesty, openness, and responsibility in financial management. The Code of Professional Ethics mandates that a CFO act in the organization’s best interests while also considering the needs and expectations of stakeholders and the general public (GFO, 2023). They must be dedicated to making sure that their financial processes are morally upright, open, and accountable for their deeds. A CFO is required to follow by this Code of Professional Ethics in order to maintain credibility and confidence with stakeholders and the general public.
CFO contributes to the development of ethical workplace culture and shows a dedication to moral conduct and best practices. In general, the GFOA’s Code of Professional Ethics is an essential manual for CFOs who want to make sure their behavior is in line with the highest norms of professionalism, ethics, and integrity in financial management. To uphold the Code of Professional Ethics, CFOs must continuously educate themselves and stay abreast of changes to laws, rules, and best practices. They must also ensure that all workers under their supervision are aware of and follow the Code of Professional Ethics (GFO, 2023). The importance of treating everyone equally and impartially, including employees, suppliers, and the general public, is also emphasized in the Code of Professional Ethics.
To avoid any appearance of inappropriate behavior or favoritism, CFOs must only make decisions that are in the company’s best interests. In order to uphold the highest standards of ethics, honesty, and professionalism in their financial management operations, a CFO must follow the GFOA’s Code of Professional Ethics. It acts as a road map to aid them in navigating difficult financial choices, upholding stakeholder trust, and upholding the public trust.
Reference
GFO. (2023). Code of Ethics. Web.