mas practice standards and ethical requirements

Chapter 

5 “MAS

Management Consultancy Principles and Engagements  Ma. Elenita Balatbat Cabrera

Practice

Standards

and Ethical Considerations”

MAS Practice Standards Personal Characteristics Standard No.1 “In performing Management  Advisory Services, a practitioner must act with  integrity and objectivity and be independent in  mental attitude. ” 

MAS Practice Standards Competence Standard No.2 “Engagements are to be performed  by a practitioner having competence in the  analytical approach and process, and in  technical subject matter under consideration. ” 

MAS Practice Standards Due Care Standard No.3 “Due professional care must be  exercised in the performance of a management  advisory services engagement. ” 

MAS Practice Standards Client Benefit Standard No.4 “Before accepting an engagement, a practitioner is to notify the client any  reservations he has regarding anticipated  benefits.” 

MAS Practice Standards Understanding with Client “Before undertaking an  Standard No.5 engagement, a practitioner is to inform his  client of all significant matters related to the  engagement.” 

MAS Practice Standards Planning, Supervision and Control Standard No.6 “Engagements are to be adequately  planned, supervise and controlled. ” 

MAS Practice Standards Sufficient Relevant Data Standard No.7 “Sufficient  relevant data is to be  obtained, documented and evaluated in  developing conclusions and recommendations. ” 

MAS Practice Standards Communication of Results Standard No.8 “All  significant matters relating to the  results of the engagement are to be  communicated to the client. ” 

Ethical Considerations 1. Integrity

2. Objectivity 3. Professional Competence and Due

Care 4. Confidentiality

5. Professional Behavior 

Ethical Conflict Resolution 

Resolve



Consider 



Consult



Document



Obtain



Withdraw

Ethical Issues

Ethical Issues 1. Should you change the highest fees you can

get away with? 2. Should you travel first class and bill the client? 3. Should you bill more than one client for the

same basic expenses? 4. Should you accept on assignment from a

client’s competitor? 5. Should you use tickets supplied by your client

to bring your spouse along?

Ethical Issues 1.

Does the activity improve the client’s condition or  merely his own?

2.

Is the activity something that one will be comfortable explaining to the client?

3.

Is the activity something that the consultant could be proud of and would publicize as a trait?

4.

Is there harm being done to anyone without their being able to respond?

5.

Is this treatment something the consultant would willingly subject himself to?

Code of Ethics for Management Consultants I. Basic Responsibilities II. Practice Standards III. Fee Arrangements IV. Business Conduct