Our CEO Andy Friedman was featured in the September issue of the STEP Journal writing an article titled 'Sweet Refrain' on the concept of forbearance, which is key to understanding professional ethical codes.
Forbearance is defined in law as ‘the action of refraining from exercising a legal right, especially enforcing the payment of a debt’. More broadly, it may be regarded as refraining from any type of action that one can legitimately take, and, even more broadly, a form of self-control. It is not acting when acting is to one’s advantage and when there are no obvious negative consequences of acting. It is not acting when it would seem to be in one’s self-interest to act.
Thinking about forbearance may further help professionals to understand what distinguishes them from other practitioners, and particularly the difference between being an expert and being a professional expert.
Andy's article covers a few key areas including:
- What is a professional?
- Ethical competence
You can read the full article online on STEP's website: