Following the recent global financial crisis and the collapse of major organisations such as Lehman Brothers, and the earlier corporate failings of Enron and HIH, there has been a shift of focus towards the role of ethics education in the formation of business professionals. In other professional settings, such as policing and medicine, similar major crises have highlighted the significance of the early development of ethical practice in emerging professionals. This paper considers the nature of professional ethics for an emerging professional, arguing that professional ethics should be a key factor in cooperative education programs. The paper considers the role of values and ethics education in empowering the emerging professional to shape and change their workplace. Building on this argument, the paper suggests foundational elements of an approach to professional ethics in cooperative education programs concluding with a suggested research path for further exploration of the content and nature of such an approach.