Ethics

Recently, ethics has come into greater focus, particularly with respect to auditor independence and professional integrity.

Changing winds of accounting ethics

Ethics and public interest have long been the basis of an accountant's work, and ongoing regulation changes globally call for increased accountability, transparency and independence.

For an investor, however, gaining status as a sophisticated investor or wholesale client carries new risks as well as benefits.

Sophisticated investors: special treatment trap for accountants and investors

Australia's special treatment of sophisticated investors can create traps for both investors and their accountants.

For accountants, business and the wider community to realise artificial intelligence's significant potential benefits, it is vital to be able to have trust in AI applications.

Checks and balances in AI ethics

Ethics of AI: While artificial intelligence promises significant benefits, there are concerns it could make unethical decisions.

The Code provides accountants with a framework and guidance on how to behave ethically.

Cracking the code of ethics for professional accountants

The operative date of the restructured Code of Ethics for Professional Accountants (The Code) is fast approaching. The changes are mandatory from 1 January 2020, although early adoption of the code is permitted.

Recent controversy over pursuit of whistleblowers in the public sector, has put the spotlight back on public sector reform.

Australia has new whistleblowing laws. Now for the governance.

Effective whistleblowing policies require much more than good intentions.

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.

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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.