INSTITUTE OF BUSINESS ADVISORS OF SOUTHERN AFRICA (IBASA)
CODE OF GOOD CONDUCT
The Institute of Business Advisors Southern Africa (IBASA) is an Independent, Non-Statutory, Professional Body being that of the nature of a Non-Profit Company formed in 2001 and endorsed by SAQA (South African Qualification Authority), that Grades and Accredits Business Advisors, Consultants, Coaches and Mentors serving micro, small and medium enterprises(SMME’s) in Southern Africa.
IBASA provides its members with a formal recognized professional status, education and continuous professional development in order to improve the quality of their services.
IBASA prides itself on Setting, Implementing and Maintaining Professional Standards of Good Practice and Codes of Ethics, among Business Advisors, Consultants, Coaches, Mentors as well as Business Rescue Practitioners.
IBASA further prides itself on the calibre of members in its membership base who subscribe to its code of ethics and high standards as set and detailed herein below. IBASA reserves its rights to change this code and any other polices or standards as imposed upon its members and it remains the obligation of a member to fully acquaint itself and remain legally compliant with any such changes at all relevant times.
PURPOSE & OBJECTIVES
- To be the recognised professional body for those who specialise in assisting the start – ups and stimulating growth, prosperity of small, micro and medium-sized enterprises in South Africa.
- Provide its members with a formal recognized professional status, education and Continuous Professional Development in order to improve the quality of their services. Grade members in accordance with their level of skill, education, and more importantly their advisory experience. Once assessed and graded, they qualify to use designations ranging from amongst others Business Advisor (BA), Principal Business Advisor (PBA), Certified Business Advisor (CBA).
- Provide its members with opportunities to continuously develop and improve their skills and capacity and members are thus required to ensure their compliance with any policies as put in place by IBASA in order to ensure the fulfilment of its objectives.
- Provide its members with opportunities to continuously develop and improve their skills and capacity.
- To become a statutory body for Business Advisors and Business Rescue Practitioners in the Republic of South Africa, with the purpose to regulate the small business environment and to create a barrier to entry for unqualified and unscrupulous operators who are contaminating the reputation of the rest of the truly professional members of this group of small business service providers.
ALL MEMBERS OF IBASA SHALL:
- Conduct themselves in a manner consistent with the high ethical standards and good reputation of professional business advisors and IBASA.
- They shall act with fairness and integrity towards all persons with whom their work is connected, and towards other members, in compliance with the letter and the spirit of current statutory and other legal requirements, including but not limited to adherence with the Financial Advisory and Intermediary Services Act (FAIS), the Financial Intelligence Centre Act (FICA) and the Companies Act, in whatsoever extent these affect the service of members to their clients. Members shall at all times comply with and ensure that they are acquainted with the requirements as set by the applicable statutorily regulated bodies which includes but is not limited to the compliance with all required regulations, directives, amendments to legislation and case law from time to time.
- Maintain objective and professional standards and ensure that the legitimate interests of the client being advised are paramount in any recommendations and advice given. The client’s interests should rank above any other business or personal pressures, or business commitment of the Business Advisor or Business Rescue Practioner.
- Not attempt to sway the client’s judgement to obtain a commercial or pecuniary benefit for the advisor or his/her employer.
- Not act recklessly or maliciously injure or attempt to injure, whether directly or indirectly, the professional reputation of another person or company including the Institute.
- Have proper regard for the professional standards expected of a member including but not limited to being fully acquainted with the professional, legal and ethical requirements as prescribed by the Institute for membership or the renewal thereof and shall not continue work in which they are not competent, without first obtaining such advice or assistance as is necessary to enable the work to be carried out competently.
- Maintain professional independence at all times without control or influence from others and, in the event of any potential or current conflict of interest arising, inform all interested parties and offer to withdraw.
- Ensure that any privileged information from a client or other relevant source in the course of an assignment, is kept confidential in the absence of any public duty or legal obligation to disclose that information.
- Should a member fail to comply with any of the provisions of this code, any of the legal obligations as imposed upon a member by the applicable statutory or common law, any applicable policy or in terms of any applicable standard and / or accreditation requirement as set forth by IBASA and any other professional or statutory regulatory body including but not limited to the CIPC or any other conduct which is regarded as the professional and acceptable standard of the industry, such conduct shall be construed as misconduct on the part of such member, whether deliberate or otherwise and shall accordingly be dealt with by IBASA in terms of its disciplinary policy and or any other relevant and applicable policies or membership rules or regulations herein. Further to this, and should a member fail to comply or partake in any of the disciplinary steps as set forth in IBASA’s disciplinary policy, this too shall be construed as misconduct on the part of such member, whether deliberate or otherwise, and shall be dealt with by IBASA in terms of its disciplinary policy or any other legally fit manner
- Where advice based on their skill and judgement is not accepted, take all reasonable steps to ensure that anyone overruling or neglecting the advice is aware of any consequencesthat they believe may result from such overruling or neglect.
- Not act in any way that contravenes the Codes of Conduct of any other professional bodies to which they are members and shall seek guidance from the bodies concerned should any potential conflict arise.
- Accept to maintain membership of the Institute of Business Advisors in Good Standing status by paying membership subscription fees promptly when they become due, to comply with any further requirements as prescribed by the Institute as duly communicated to such member whether directly or through the website or other online mechanisms, and to timeously advise the Institute in writing should they at any time wish to discontinue their membership.
- Agree that the rules and regulations and policies of IBASA will be binding on their conscience and conduct and, hence, will consequently be bound by IBASA’s Code of Conduct and all policies and further membership requirements of the Institute.
- Consent to the Institute taking whatever checks as are necessary in order to verify their qualifications and experience.
- Accept that any member may be required to answer enquiries from the Institute concerning their professional conduct. Failure to respond within 10 (ten) days may lead to disciplinary action being taken against the member.
- Shall promote and endorse a respective and competitive marketplace by ensuring that the delivery of service and goods are inline with the standards of the Institute