According to CISI P8, what is expected of individuals in the industry?

Upholding the highest personal and professional standards is fundamental in the industry as outlined in CISI P8. This principle emphasizes the importance of integrity, honesty, and professionalism in all dealings. Individuals are expected not merely to comply with the regulatory requirements but to embody ethical conduct in their work practices. This kind of integrity fosters trust and confidence among clients, colleagues, and the broader community, which is essential for sustaining long-term professional relationships and the reputation of the industry as a whole.

In contrast, striving to maintain a competitive edge might lead some individuals to prioritize short-term gains over ethical considerations. Focusing exclusively on profit can undermine ethical practices and erode trust in the industry. Following a client's directives without regard for ethics could lead to harmful consequences for both the client and the public and is contrary to the professional standards expected by CISI. Hence, the emphasis is predominantly on maintaining high ethical standards to ensure the industry's integrity and reliability.