Ethics

Foreign bribery is inherently difficult to detect and enforce. The OECD says it takes on average 7.3 years to bring a foreign bribery matter to conclusion.

Anti-corruption update: what it means for accounting

An overhaul of Australia’s foreign bribery and anti-corruption laws is underway. CPA Australia provides an overview of what it means for accounting.

With AI increasingly ubiquitous and part of modern existence, concern about its biases has inspired a push towards a governance framework that is ethical, unbiased and transparent. Illustrations: Adam Nickel

The good, bad and ugly of AI ethics

Artificial intelligence (AI) is being adopted so fast that its technical capabilities have outpaced construction of an ethical governance framework. That's changing as the implications of the AI revolution become clear.

Bernie Madoff arrives at Federal Court in New York to face charges of fraud in 2009. His long-running commercial fraud spectacularly unravelled in 2008.

The upside of commercial fraud

Former regulator Dan Davies argues we should stop seeing fraud - like that of Bernie Madoff - as a sign of decay and accept that it will happen in a healthy, trust-based commercial society.

“Ethical” investments are consistently outperforming their more traditional counterparts in the broader market - busting the myth that doing good necessitates financial sacrifice.

Does ethical investment pay higher returns?

More companies are realising that sound environmental, social and governance principles make financial sense, with ethical investments outperforming their more traditional counterparts.

How can accountants strike the right balance if they discover their client is acting illegally or against the public interest.

NOCLAR: balancing the needs of clients with the greater good

A new section in the Code of Ethics for accountants provides a guide on what to do if they come across a client’s non-compliance with laws and regulations (NOCLAR). Ahead of his appearance at WCOA 2018, Dr Stavros Thomadakis talks about how accountants can strike the right balance if they discover their client is acting illegally or against the public interest.

It probably comes as no surprise that social media defamation suits are rising exponentially across the world. Illustration: Ellen Porteus.

Social media defamation: how bad 'netiquette' can cost you in court

Shutting down keyboard warriors can be a battle but with social media defamation on the rise, potential financial penalties may become a major deterrent to saying the wrong thing.

While workplace policies encourage anonymous whistleblowing, Australia’s Corporations Act protects only whistleblowers that are willing to identify themselves. This is just one of the topics that will be tackled at WCOA 2018. Illustration: Adam Nickel.

Tell the truth and ruin your career: should whistleblowers be compensated?

As many corporate whistleblowers discover, doing the right thing isn’t always rewarded. Instead, telling the truth can be followed by retribution and career ruin. Ahead of their appearance at the World Congress of Accountants (WCOA), Wendy Addison, Sylvain Mansotte and Michael Woodford ask: How do we make it safe to speak up?

American con artist George C. Parker claimed to have "sold" the newly opened Brooklyn Bridge up to twice a week for 30 years. Police stopped several of his victims from erecting toll booths on their new purchase. Illustrations: Michael Killalea

Ponzi scheme, fraud, white-collar crime: 6 modern-day swindlers and how they did it

The only thing more surprising than fraud itself is the level of respect and power perpetrators - Bernie Madoff, Belle Gibson, Martin Shkreli and the like - achieve before being brought to justice.

Informed consent also requires accountants to give their clients sufficient time to form an opinion about the information and any proposed transaction.

FASEA draft code of ethics puts informed consent back on the radar

Informed consent is not new to financial advisers, but a new exposure draft is raising questions.

New requirements in the Code of Ethics for professional accountants ensures practitioners respond in a timely way.

Why you can’t turn a blind eye to non-compliance by a client

New requirements in the Code of Ethics mean that accountants may, in some instances, have to report client non-compliance with laws and regulations (NOCLAR).

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Ethical Business Lessons eBook

While most of us want to do the right thing, sometimes we fail to adequately consider all aspects of a situation or are influenced by human limitations in perception and thinking. This collection can help.

Featured essays:

  • Make sure your voice is heard at work before you leave
  • Does reciprocity stop workers from doing the right thing?
  • There are no words to excuse a bad work ethic
  • Keep your accounting hat on
  • Why ethics and law are not the same thing
  • Should intuition be trusted on the job?
  • Move over "buyer beware" – it's the seller's turn
  • Are your ethics taking a wrong turn?
  • Bullies and bystanders
  • Counting the consequences
Download the eBook.