Mai769 - Fasea Code Assessment Answer

Assignment Task

Preliminary tasks:
1. Choose one of the headline standards: ethical behavior, client care, quality process, or professional commitment from the FASEA Code of Ethics

2. Develop a scenario from your direct experience and/or knowledge of others’ conduct that breaches at least one of the FASEA standards from your selected headline standard. Resources that might help you with this part of the task are in the Assessment 3 folder in the CloudDeakin site.

3. You will need to identify the ethical dilemma about the values in conflict (for example, is it a case of self-interest vs public interest? Or a case of loyalty vs fairness?). This will help you determine an ethical course of action.

Learning Outcomes:
This task allows you to demonstrate achievement towards all of MAI769’s Unit Learning Outcomes (ULOs). The ULOs are aligned with specific Graduate Learning Outcomes (GLOs) – that is, the skills and knowledge graduates are expected to have upon completion of their studies. If you do not demonstrate the achievement of the ULOs, you will not be successful in this unit. It is good practice to familiarise yourself with the ULOs and the GLOs as they guide the knowledge, understanding, and skills you’re expected to demonstrate through your assignment work. In this way, they can be used to guide your study. The learning outcomes are listed below and in the unit guide.

Unit Learning Outcome (ULO):
1. Apply knowledge of ethical theories, principles and decisionmaking models in arriving at responsible and ethical judgments in financial planning scenarios.

2. Evaluate and respond (verbally and in writing) to stakeholder interests.

3. Justify ethical decisions according to relevant national and international professional standards and codes of ethics.

4. Evaluate the role of code monitoring bodies in monitoring and evaluating adviser compliance with codes of ethical conduct.

Graduate Learning Outcome (GLO):
GLO1: Discipline-specific knowledge and capabilities

GLO2: Communication

Written report:
In your 2,000-word written report, you must work through the following steps of the AAA decision-making model in detail. That is, you will:
1. Outline the facts of the scenario including which standard/s have been breached

2. Identify the ethical dilemma and relevant stakeholders

3. Outline the norms, principles, and values related to the case

4. Describe at least four alternative courses of action the moral agent could take to resolve this ethical dilemma (base these courses of action on normative ethics, principles of professional conduct, and relevant laws, codes and regulatory guidelines where appropriate)

5. Identify the consequences for each stakeholder group of each possible course of action

6. Identify and justify your decision (the most ethical course of action) and defend that course of action in a way that goes beyond a common-sense approach.

As part of your answer, you must evaluate the role of code monitoring bodies about this breach of the FASEA code. What role might they (can they) play in enforcing compliance with the code in this situation? We’re expecting to see your ethical approach and views represented in your responses. If you use others’ ideas and/or words, reference them using Harvard referencing2.

Structure of the report:
1. Executive summary or abstract.

2. Introduction: summarise the scenario you have developed.

3. Body: your response to steps 1 – 5 of the decision-making model and a statement evaluating the role of a potential FASEA code monitoring body might play about the ethical breach you identified.

4. Conclusion: Identify and justify your preferred course of action.

5. References: only include those cited in your report.

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