Professional Ethics at Saint Lucia
Professional ethics in Saint Lucia are upheld through a combination of national legislation, industry-specific codes of conduct, and organizational policies. These frameworks aim to promote integrity, accountability, and transparency across various sectors. Here's an overview of key ethical standards in prominent fields:
🏛️ Public Sector
Integrity Commission
Established under Section 118 of the Constitution of Saint Lucia, the Integrity Commission is tasked with promoting ethical conduct among public officials. It consists of a chairperson and two to four other members, appointed by the Governor General on the advice of the Prime Minister, after consultation with the Leader of the Opposition. The Commission's functions include: (118. The Integrity Commission | Constitution Of Saint Lucia | Revised Laws of Saint Lucia | Attorney General Chambers)
Receiving and examining declarations of assets, liabilities, and income of public officials.
Investigating complaints of alleged bribery or acts of corruption by public officials.
Advising public bodies on changes necessary to minimize corrupt practices.
The Commission operates independently and is not subject to the direction or control of any other person or authority. (118. The Integrity Commission | Constitution Of Saint Lucia | Revised Laws of Saint Lucia | Attorney General Chambers)
💼 Accounting Profession
Institute of Chartered Accountants of the Eastern Caribbean (ICAEC)
The ICAEC, which includes the Saint Lucia branch, enforces ethical standards for accountants in the region. These standards are aligned with the International Code of Ethics for Professional Accountants issued by the International Ethics Standards Board for Accountants. The fundamental principles include: (Code of Ethics)
Integrity: Being straightforward and honest in all professional and business relationships.
Objectivity: Not allowing bias, conflict of interest, or undue influence of others to override professional or business judgments.
Professional Competence and Due Care: Maintaining professional knowledge and skill at the level required to ensure that clients or employers receive competent professional service.
Confidentiality: Respecting the confidentiality of information acquired during the course of professional and business relationships.
Professional Behavior: Complying with relevant laws and regulations and avoiding any action that discredits the profession.
These principles guide accountants in maintaining public trust and delivering high-quality services.
🏢 Corporate Sector
Corporate Governance Standards
Saint Lucia has participated in the development of international standards on governance, notably the ISO 37000:2021 Governance of Organizations – Guidance. This standard provides organizations with tools to be accountable, transparent, and maintain ethical standards in their operations. The Saint Lucia Bureau of Standards (SLBS) facilitated the country's participation in this process, ensuring that local organizations align with global best practices. (SLBS participates in groundbreaking Governance Standard – Saint Lucia Bureau of Standards)
🧑💼 Insurance Industry
Insurance Council of Saint Lucia (ICSL)
The ICSL has established a Code of Ethics for individuals engaged in the insurance industry. This code outlines standards of ethical behavior to ensure that insurance personnel conduct themselves in a manner that upholds the integrity of the profession and serves the public interest. Key provisions include: (Code of Ethics | The Insurance Council of St. Lucia)
Acting in the best interests of policyholders and advising them without bias. (Code of Ethics | The Insurance Council of St. Lucia)
Maintaining confidentiality regarding clients' personal and business affairs. (Code of Ethics | The Insurance Council of St. Lucia)
Avoiding false or misleading statements to policyholders or prospective buyers. (Code of Ethics | The Insurance Council of St. Lucia)
Promptly addressing communications related to claims and ensuring fair settlement. (Code of Ethics | The Insurance Council of St. Lucia)
Reporting unprofessional or dishonest conduct by other insurance personnel. (Code of Ethics | The Insurance Council of St. Lucia)
These standards aim to foster trust and professionalism within the insurance sector.
🏭 Energy Sector
LUCELEC (Saint Lucia Electricity Services Limited)
LUCELEC has implemented policies to manage conflicts of interest among its directors. The company's guidelines require directors to avoid situations where there is a real or perceived conflict between their fiduciary duties to the company and other interests. Directors are expected to disclose any potential conflicts and recuse themselves from decision-making processes where such conflicts exist. This approach ensures that the company's governance remains transparent and in the best interests of its stakeholders. (Policy and Guidelines on Director Conflict of Interest | St. Lucia Electricity Services Limited)
These ethical frameworks collectively contribute to fostering a culture of integrity and accountability across various sectors in Saint Lucia. Adherence to these codes ensures that professionals uphold the highest standards of conduct in their respective fields.
RELATED Blog
0 comments