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      • Ethical standards refer to the moral principles that guide individuals` behavior, taking into account concepts such as honesty, integrity, and fairness. On the other hand, legal standards are defined by the laws and regulations set forth by governing bodies, which carry legal consequences if violated.
      astoriacre.com/ethical-vs-legal-standards-understanding-the-differences/

      Ethical vs Legal Standards: Understanding the Differences

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  3. corporatefinanceinstitute.com › resources › esgEthical vs. Legal Standards - Definition, Differences

    Within the investment industry, defining legal standards is much easier than ethical standards. Acting legally means respecting the applicable bodies of law in the firm’s jurisdiction. For example, a company may be required to have accounting practices that adhere to the GAAP or IFRS standards.

  4. study.com › academy › lessonLegal & Ethical Standards | Definition, Differences & Examples

    Nov 21, 2023 · Ethical standards are based on human rights and wrongs, while legal standards are based strictly on what is written in law. It is very possible that an action may be legal but not ethical.

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  6. uk.indeed.com › legal-and-ethicalLegal and ethical standards: what's the difference?

    Jul 1, 2024 · People may use the terms legal and ethical interchangeably, but they have significant differences and roles in individual lives, communities and companies. Understanding their differences can help you apply these two standards to create a code of ethics for yourself and an organisation.

  7. astoriacre.com › ethical-vs-legal-standardsEthical vs Legal Standards: Understanding the Differences

    Jan 29, 2023 · What is the difference between ethical and legal standards? The difference between ethical and legal standards lies in their source of authority. Ethical standards are based on moral principles and values, while legal standards are derived from laws and regulations set by governing bodies.

  8. thisvsthat.io › ethical-vs-legalEthical vs. Legal - What's the Difference? | This vs. That

    Ethical and legal are two distinct concepts that govern human behavior in different ways. Ethical refers to a set of moral principles and values that guide individuals or groups in making decisions and determining what is right or wrong.

  9. analystprep.com › cfa-level-1-exam › ethical-andThe Difference between Ethical and Legal Standards - AnalystPrep

    Mar 13, 2024 · The means by which control is maintained in these circumstances is to set laws and stipulate punishment. Therefore, the law is reactive. By contrast, ethical conduct is proactive and the means by which standards of practice maintain a high level of morality beyond legality.

  10. ethics.org.au › ethics-explainer-ethics-morality-lawEthics Explainer: Ethics, morality & law - THE ETHICS CENTRE

    There is a temptation to see the law and ethics as the same – so long as we’re fulfilling our legal obligations we can consider ourselves ‘ethical’. This is mistaken on two fronts. First, the law outlines a basic standard of behaviour necessary for our social institutions to keep functioning.