What is the general goal of establishing standards of conduct in the profession?

Establishing standards of conduct in any profession primarily aims to contribute to the welfare of key stakeholders, which includes clients, colleagues, the profession itself, and the broader community. These standards help ensure that practitioners adhere to ethical practices, provide quality services, and maintain the trust and confidence of those they serve. When standards are in place, they promote accountability and integrity, which ultimately leads to better outcomes for stakeholders who rely on the professionalism and expertise of practitioners.

In contrast, the focus on job security or income measurement does not directly relate to the purpose of professional conduct standards. While competition exists in any field, eliminating competition is neither practical nor beneficial; instead, healthy competition can drive improvement and innovation within the profession. Therefore, the emphasis on stakeholder welfare highlights the true intent of establishing such standards.