Unit of competency Outline

Date retreived
22/07/2026 4:06 AM AWST

Whilst all efforts are made to provide accurate and timely information from the relevant source/documentation, please be aware that the information supplied may not be the most current version. The accuracy of the detail has not been confirmed by the Department and therefore should not be relied upon without first confirming the contents.

Apply ethical frameworks and principles to make and act upon decisions

Apply ethical frameworks and principles to make and act upon decisions

Unit of competency
National Code
FNSINC514
State Code
OEC13
TGA Status
Current
DTWD Status
Approved
Current Release Number
1.00
Current Release Date
15/06/2022
State Implementation and Classification
Approved Date
07/12/2022
Field of Education
080301 - Business Management
Original Release Date
07/12/2022
Nominal Hours
35
Description
This unit describes the skills and knowledge required to apply ethical frameworks and principles when making decisions in own role.The unit applies to individuals who use ethical principles and apply ethical frameworks to decide on, carry out, and evaluate the effectiveness of a course of action in response to an ethical situation in their workplace.The skills in this unit must be applied according to commonwealth, state and territory legislation, and applicable national standards and industry codes of practice or similar instruments.Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Users are advised to check with the relevant regulatory authorities to confirm those requirements.
Notes
Elements and Performance Criteria
1. Frame the ethical question applicable to the situation
  • 1.1 Analyse context of situation and identify ethical principles that may apply
  • 1.2 Analyse psychological tendencies and decision-making biases potentially influencing stakeholders
  • 1.3 Identify potential breaches to regulatory requirements if situation is not addressed
  • 1.4 Analyse ethical situation in the context of organisation’s purpose and values
  • 1.5 Evaluate impact on organisation’s reputation if response to situation was in the public domain
2. Determine ethical response to situation
  • 2.1 Identify key stakeholders and analyse potential impacts
  • 2.2 Analyse situation using an ethical decision-making framework and determine preferred course of action
  • 2.3 Identify situational and psychological barriers impeding the analysis of, and response to, ethical situation
  • 2.4 Seek advice on proposed actions from trusted adviser in the case of highly complex or sensitive matters
  • 2.5 Formulate strategies and processes for responding to situational and psychological barriers
3. Develop implementation plan and carry out ethical response to situation
  • 3.1 Develop an implementation plan for ethical response
  • 3.2 Identify reasons and rationalisations that may be encountered when speaking up on ethical issues, and analyse how to respond to them
  • 3.3 Identify risks and stakeholder concerns, and communication strategies that acknowledge and mitigate them
  • 3.4 Implement planned ethical response independently or with the support of colleagues, as required
4. Evaluate outcomes of ethical response
  • 4.1 Evaluate outcomes of response to ethical situation and identify whether the issue has been resolved and whether other courses of action could or should have been taken
  • 4.2 Determine consequences of action for self and affected parties
  • 4.3 Analyse what the outcomes of the course of action reveal about own and organisational values
  • 4.4 Identify improved approaches for responding to future ethical situations
No information
No information
Replaces
State Code National Code Title Type
BBH69 FNSINC504 Apply ethical frameworks and principles to make and act upon decisions Unit of competency
State Code National Code Title Type
BHX1 FNS50222 Diploma of Accounting Qualification
BHW9 FNS60222 Advanced Diploma of Accounting Qualification
BGU5 CUA51420 Diploma of Arts and Cultural Management Qualification
BHT8 FNS42022 Certificate IV in Banking Services Qualification
BHX4 FNS50922 Diploma of Banking Services Management Qualification
BHU6 FNS60622 Advanced Diploma of Banking Services Management Qualification
AD755 FNSSS00013 Business Ethics and Conduct Skill Set Skill set
BHU0 FNS51522 Diploma of Credit Management Qualification
BHT7 FNS40122 Certificate IV in Credit Management Qualification
AE865 FNSSS00022 Customer Relationship Building Skill Set Skill set
BHK3 FNS40821 Certificate IV in Finance and Mortgage Broking Qualification
BHT9 FNS50322 Diploma of Finance and Mortgage Broking Management Qualification
BHU3 FNS60722 Advanced Diploma of Financial Licensing Management Qualification
BHU2 FNS51022 Diploma of Financial Markets Qualification
BFF4 FNS41820 Certificate IV in Financial Services Qualification
BHU8 FNS51822 Diploma of Financial Services Qualification
BFX4 FNS51120 Diploma of General Insurance Qualification
BFX7 FNS51220 Diploma of Insurance Broking Qualification
BHX3 FNS60822 Advanced Diploma of Integrated Risk Management Qualification
BFX2 FNS60920 Advanced Diploma of Paraplanning Qualification
BHW7 FNS50422 Diploma of Payroll Services Qualification
BGN6 FNS51920 Diploma of Personal Injury and Disability Insurance Management Qualification
BHX2 FNS52022 Diploma of Personal Trusts Qualification
BHW8 FNS50722 Diploma of Superannuation Qualification