All members of the Institute are required, as a condition of membership, to adhere to the following Code of Professional Conduct:
A member will treat client information as confidential and will neither take personal advantage of privileged information gathered during an assignment, nor enable others to do so.
A member will refrain from encouraging unrealistic expectations or promising clients that benefits are certain from specific management consulting and advisory services. A member will ensure that before accepting any engagement, a mutual understanding of the objectives, scope, workplan, and fee arrangements has been established with the client. A member will advise the client of any significant reservations the member may have about the client’s expectation of benefits from an engagement.
Commissions / Financial Interests
A member will neither accept commissions, remuneration nor other benefits from a third party in connection with recommendations to a client without the client's knowledge and consent nor fail to disclose any financial interest in goods or services which form part of such recommendations.
A member will only accept work that the member is qualified to perform and in which the client can be served effectively; a member will not make any misleading claims and will provide references from other clients if requested.
Disclosure and Conflicts of Interest
A member will disclose at the earliest opportunity any special relationships, circumstances or business interests which might influence or impair, or could be seen by the client or others to influence or impair, the member’s judgement or objectivity on a particular assignment. This requires the prior disclosure of all relevant personal, financial or other business interests that could not be inferred from the description of the services offered. In particular this relates to:
- any directorship or controlling interest in any business in competition with the client
- any financial interest in goods or services recommended or supplied to the client
- any personal relationship with any individual in the client’s employ
- any personal investment in the client organisation or in its parent or any subsidiary companies
- any recent or current engagements in sensitive areas of work with directly competitive clients
- any work for a third party on the opposite side of a transaction, e.g. bid defence, acquisitions, work for the regulator and the regulated, assessing the products of an existing client
A member will not serve a client under circumstances which are inconsistent with the member’s professional obligations or which in any way might be seen to impair the member’s integrity; wherever a conflict or potential conflict of interest arises, the member will, as the circumstances require, either withdraw from the assignment, remove the source of conflict or disclose and obtain the agreement of the parties concerned to the performance or continuance of the engagement.
A member will not make offers of employment to or engage any member of the client's staff nor use the services of any such person either independently or via a third party unless they have first obtained the client's written consent.
Standards of Service
A member will carry out the duties, which he or she has undertaken for his/her client diligently, conscientiously and with due regard to his/her client’s interest. A member will maintain a fully professional approach in all dealings with clients, the general public and fellow members.
A member shall be a fit and proper person to carry on the profession of management consultancy and advisory services and shall at all times be of good reputation and character. Particular matters for concern might include:
- conviction of a criminal offence or committal under bankruptcy proceedings
- censure or disciplining by a court or regulatory authority
- unethical or improper behaviour towards employees or the general public
A member shall not wilfully give the Institute false, inaccurate, misleading or incomplete information.
Other Management Consultants
A member will ensure that other management consultants and advisers carrying out work on behalf of the member are conversant with and abide by this Code of Professional Conduct. A member will sub-contract work only with the prior agreement of the client and, except where otherwise agreed, will remain responsible for the performance of the work.