Are your accountants ethically fit?
The crucial issue of rebuilding trust in the accountancy profession after the scandals of recent years has placed ethics at the heart of finance. ACCA (the Association of Chartered Certified Accountants), the world’s largest and fastest-growing professional international accountancy body, is now challenging its 105,000 members to show they are ethically “fit”.
ACCA has launched a new ethics website, which allows members to undertake a “health check” by setting out an “assault course” of ethical questions and dilemmas which they may face in the course of their work. It also provides case studies, and an ethical framework, based on principles, to guide them in their work.
Steve Heathcote, ACCA Director of Training, said: “Nothing is more important in the post-Enron finance world than ensuring accountants are given practical guidance on ethics issues. It is not about ticking boxes and mouthing platitudes – ethics must be given real meaning and by challenging our members in this way, we feel we can make a real contribution to restoring trust in accountants.
“The website will put our members on the spot, and make them think ‘Am I doing the right thing? What would I do in that situation?’ To push the fitness analogy, by using this site they will build up their ethical ‘muscle’. It will be practical, not theoretical or pious”.
He added: “ACCA research has shown that people believe professional bodies have a key role to play in instilling genuine ethics – as there will always be short-term pressures in business to cut corners or inflate figures. But organisations which take the long-term perspective will ultimately succeed, and we are here to help them do that. Our global spread also plays a key part in overcoming problems of country cultures which can pose challenges to ethics.”
The ACCA website contains frequently asked questions which raise ethical issues and case studies, such as “You are an accountant in public practice with a number of small business clients. Two police officers come to your office and ask to see the files of one of your clients who owns a corner store. What do you do?” The site offers guidance and requirements under ACCA’s rules to this and other questions.
The microsite also includes up to date information from the ACCA Rulebook, along with standards from bodies, such as the International Federation of Accountants (IFAC) and the Auditing Practices Board (APB). The site also gives guidance on ethical codes and best practice, links to other useful sites on ethics, case studies on topical issues, and a range of e-learning modules.
All ACCA members are now required to sign a declaration stating that they are keeping their knowledge of ethics up to date when submitting their Continuing Professional Development (CPD) annual return. The site has been designed to help members with that declaration, and recognises the importance that ACCA attaches to making guidance on problematic ethical issues available to its members.
ACCA already provides support to its members on ethical matters through the Technical Advisory teams which handle referrals from members on topics such as fraud, embezzlement, and whistleblowing, and provides practical guidance on how to deal with ethical issues which they may encounter.
Click here to visit the new ethics website
ACCA has launched a new ethics website, which allows members to undertake a “health check” by setting out an “assault course” of ethical questions and dilemmas which they may face in the course of their work. It also provides case studies, and an ethical framework, based on principles, to guide them in their work.
Steve Heathcote, ACCA Director of Training, said: “Nothing is more important in the post-Enron finance world than ensuring accountants are given practical guidance on ethics issues. It is not about ticking boxes and mouthing platitudes – ethics must be given real meaning and by challenging our members in this way, we feel we can make a real contribution to restoring trust in accountants.
“The website will put our members on the spot, and make them think ‘Am I doing the right thing? What would I do in that situation?’ To push the fitness analogy, by using this site they will build up their ethical ‘muscle’. It will be practical, not theoretical or pious”.
He added: “ACCA research has shown that people believe professional bodies have a key role to play in instilling genuine ethics – as there will always be short-term pressures in business to cut corners or inflate figures. But organisations which take the long-term perspective will ultimately succeed, and we are here to help them do that. Our global spread also plays a key part in overcoming problems of country cultures which can pose challenges to ethics.”
The ACCA website contains frequently asked questions which raise ethical issues and case studies, such as “You are an accountant in public practice with a number of small business clients. Two police officers come to your office and ask to see the files of one of your clients who owns a corner store. What do you do?” The site offers guidance and requirements under ACCA’s rules to this and other questions.
The microsite also includes up to date information from the ACCA Rulebook, along with standards from bodies, such as the International Federation of Accountants (IFAC) and the Auditing Practices Board (APB). The site also gives guidance on ethical codes and best practice, links to other useful sites on ethics, case studies on topical issues, and a range of e-learning modules.
All ACCA members are now required to sign a declaration stating that they are keeping their knowledge of ethics up to date when submitting their Continuing Professional Development (CPD) annual return. The site has been designed to help members with that declaration, and recognises the importance that ACCA attaches to making guidance on problematic ethical issues available to its members.
ACCA already provides support to its members on ethical matters through the Technical Advisory teams which handle referrals from members on topics such as fraud, embezzlement, and whistleblowing, and provides practical guidance on how to deal with ethical issues which they may encounter.
Click here to visit the new ethics website