Code of Conduct

INSTITUTE OF MANAGEMENT CONSULTANTS (SINGAPORE)
BYE-LAWS NO.2 OF 2008
BY-LAWS (CODE OF PROFESSIONAL CONDUCT)

These By-laws of the Institute shall be referred to as the “Code of Professional Conduct”.

2. In the event of any inconsistency between the provisions of the Constitution and Regulations issued hereunder, the provisions of the Constitution shall prevail.

3. In these By-laws and all Practice Regulations issued hereunder, unless the context otherwise requires, expressions and/or words defined in the Constitution shall have the meanings there defined.
4. Each of the following expressions and/or words shall have the meaning set forth against it:

“Member” – for the purposes of these By-laws and all Practice Regulations and wherever else expressly included only, it shall mean an Ordinary or Certified Member of the Institute.

“Client” – the person, firm or organisation whatsoever with whom a Member enters into an agreement or contract for the provision of his services;

“Declaration” – a written statement referring to and disclosing the facts relevant to the situation covered by particular provisions of the Code of Professional Conduct;

“Independent” – in a position to at all material times express one’s own opinion without any direct or indirect control or influence from anyone outside one’s Management Consulting practice and without the need to consider the direct or indirect ramification or consequences (beneficial or otherwise) of such opinion on one’s own personal interests;
5. Responsibilities to the Profession

5.1 A Member shall at all times conduct himself in a manner which will enhance the standing and public regard of the profession.

5.2 A Member who, in circumstances not specifically covered in these Bye-laws, finds that his professional or personal interests conflict so as to risk a breach of these By-laws shall, as the circumstances may require, either withdraw from the engagement(s), or if possible remove the source of conflict, or declare it and obtain in writing the agreement of the parties concerned to the continuance of his assignment.

5.3 A Member shall have proper regard for the professional obligations and qualifications of those from whom he receives or to whom he gives authority, responsibility or employment, or with whom he is professionally associated.

5.4 To ensure efficient performance of each assignment, a Member shall exercise good management through careful planning, frequent progress reviews and effective controls.

5.5 When asked by a Client to review the work of another professional, a Member shall exercise the objectivity, integrity and sensitivity required in all technical and advisory conclusions communicated to the Client.

6. Responsibilities to the Institute

6.1 A Member shall only initiate or accept a joint assignment with a member of another professional body if he is satisfied (and can satisfy the Client and, if required, the Institute) that such an assignment would be conducted to the standards represented by this Code of Professional Conduct.

6.2 A Member shall negotiate agreements and charges for professional services only in a manner approved as ethical and professional by the Institute.

7. Responsibilities to the Client (In relation to the engagement)

7.1 A Member, in publicising his work or making representations to a Client, shall ensure that the information given:
– is factual and relevant
– is neither misleading nor unfair to others
– is not otherwise discreditable to the profession.

7.2 A Member shall only accept an engagement for which he is suitably qualified.

7.3 Before accepting an assignment a Member shall clearly define the terms and conditions of the assignment including the scope, nature and period of the service to be provided, the allocation of responsibilities, and the basis of remuneration.

7.4 A Member shall regard his Client’s requirements and interests as paramount at all times.

7.5 A Member shall only sub-contract work with the prior agreement of his Client.

7.6 A Member shall hold as strictly confidential all information concerning the affairs of Clients unless the Client has released such information for public use, or has given specific permission for its disclosure.

7.7 A Member shall develop recommendations specifically for the solution of each Client’s problems; such solutions shall be realistic and practicable and clearly understandable by the Client.

7.8 A Member shall advise the Client of any significant reservations he may have about the Client’s expectation of benefits from an engagement. He shall not accept an engagement if he cannot serve the Client effectively.

7.9 A Member shall not indicate any short-term benefits at the expense of the long-term welfare of the Client, without advising the Client of the implications.

7.10 A Member shall discuss and agree with the Client any significant changes in the objectives, scope, approach, anticipated benefits or other aspects of the engagement which might arise during the course of carrying it out.

7.11 A Member shall recognize that in the discharge of his responsibility to the profession as well as to himself and his Clients, he should at all times ensure that his knowledge and skills are kept up to date and shall take appropriate steps to this end.

7.12 A Member shall not knowingly, without permission, use copyright material, or a Client’s proprietary data, or materials or techniques that others have developed but have not released for public use.

8. Responsibilities to the Client (In relation to independence and potential conflicts of interest)

8.1 A Member shall avoid any action or situation inconsistent with his professional obligations or which in any way might be seen to impair his integrity.

8.2 A Member shall maintain an independent position with the Client at all times, making certain that advice and recommendations are based upon thorough impartial consideration of all pertinent facts and circumstances and on opinions developed from reliable relevant experience.

8.3 A Member shall declare at the earliest opportunity any special relationships, circumstances or business interests which might influence or impair his independent judgment or objectivity on a particular assignment.

8.4 A Member shall not serve a Client under terms or conditions which might impair his being independent, or which might impair his objectivity or integrity; he shall reserve the right to withdraw if conditions beyond his control develop to interfere with the proper conduct of the assignment. He shall not practice during a period when his judgment is or might be impaired through any cause.

8.5 A Member referring a Client to another Management Consultant shall not misrepresent the qualifications of the other Management Consultant, nor will he make any commitments for the other Management Consultant.

8.6 A Member shall not accept an assignment for a Client knowing that another Management Consultant is serving the Client in a similar capacity unless he is assured, and can satisfy himself, that any potential conflict between the two assignments is recognized by, and has the consent of, the Client.

9. Responsibilities to the Client (In relation to dealings with the Client and the Client’s staff)

9.1 A Member shall refrain from inviting any employee of a Client advised by the Member to consider alternative employment; (an advertisement in the press shall not be considered to be an invitation to any particular person).

9.2 A Member shall not take discounts, commissions or gifts as an inducement to show favour to any person or body, in particular to the Client or the Client’s staff.

9.3 A Member shall not attempt to obtain work by giving financial inducement to Clients or Client’s staff.

10. The Council shall be empowered to issue, rescind and amend Practice Regulations from time to time under these By-laws, which shall be binding on the Members.

11. These By-laws may only be amended or rescinded at a General Meeting of the Institute.

12. These By-laws have been amended on 20th of June 2008.

These By-Laws were first adopted under Rules 7.02 and 27.01 of the Constitution by the first Founder Members of The Institute on the 9th day of October 1992.