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ZUG1044 Fundamentals of Ethics, Corporate Governance and Business Law

0.125 EFTSL


Business, Engineering and Technology


South Africa

  • Term 2 2018 (On-campus)
  • Term 4 2018 (On-campus)


The learning outcomes in this unit reflect the professional standards to be demonstrated for the benefit of all stakeholders. With this in mind, the place of ethics and ethical conflict is an essential underpinning for commercial activity. Ethics is more than just knowing the rules around confidentiality, integrity and objectivity. It’s about identifying ethical dilemmas, understanding the implications and behaving appropriately. It includes the role of corporate governance, corporate social responsibility and audit; and their increasing impact in the management of organisations.

Wherever business is conducted the legal and administrative framework underpins commercial activity. With this in mind, the areas of contract law, employment law, administration and management of companies is considered.


The learning goals associated with this unit are to:

  1. Demonstrate an understanding of the importance of ethics to society, business and the professional accountant.
  2. Explain the need and requirements for CIMA students and members in adopting the highest standards of ethical behaviour.
  3. Explain the various means of regulating ethical behaviour, recognising different parties’ perspectives towards ethical dilemmas.
  4. Identify ethical dilemmas and how they may be resolved.
  5. Explain the role of corporate governance in meeting the concerns of society and investors over the management of corporations.
  6. Explain the impact of corporate governance on the directors and management structures of corporations.
  7. Explain the role of external and internal audit.
  8. Explain the nature of errors and frauds.
  9. Explain Corporate Social Responsibility (CSR) – a political and corporate perspective.
  10. Explain the role of CSR within company reporting.
  11. Explain how the law determines the point at which a contract is formed and the legal status of contractual terms.
  12. Explain the essential elements of an employment contract and best practice and the remedies available following termination of the contract.
  13. Explain the nature, legal status and administration of business organisations.


There will be a mock examination and a two hour computer based assessment, comprising 60 compulsory objective test questions.