Considerations regarding the establishment of a code of ethics for academics are discussed. All professions, not just academicians, are being asked to specify what it is that they contribute to society and to demonstrate that they are contributing it and not just satisfying their own interests. A code explicitly delimits the responsibility and involvement of a professional. It is suggested that a code of ethics must legitimate the interests of academics by showing, at the least, that good academic practice is auditable, serves society at large, and avoids conflicts of interest. Academic practice must be shown to be instructionally effective and evaluatively responsible. There must be differentiation among specializations and competencies which are certifiable. The code of ethics must deal with the relationship among academic specializations, and their several interests. The code must be specific and enforceable. A quasi-governmental agency providing for the representation of the academic professions is needed to regulate academic practice, including auditing performance, policing deviance from standards, and hearing complaints of malpractice. A 1966 statement on professional ethics endorsed by the American Association of University Professors is appended. (SW)