In a firm, codes of ethics apply to which groups?

• A. Part-time employees
• B. Senior managers
• C. Both Part-time employees and Senior managers
• D. Neither Part-time nor Senior managers

Answer: (C)

Codes of ethics set the expected behavior for anyone representing the firm, from top leadership to people working part-time. Part-time employees interact with customers, handle information, and influence the company’s reputation, so theymust follow the same standards as full-time staff. Senior managers have an even greater responsibility because they lead by example, shape the ethical culture, and enforce policies to prevent conflicts of interest and misconduct. Because the goal is a consistent, organization-wide standard, the code applies to both groups. Limiting the code to only one group would create gaps where unethical actions could go unchecked, undermining integrity and governance.