“Ethical leadership is crucial to the future success of the accountancy profession, and the global financial system as a whole,” said Kevin Dancey, CEO of IFAC.
As the world becomes more complex, maintaining ethical standards
becomes both more challenging and increasingly important. To help guide
financial professionals, the Chartered Professional Accountants of
Canada (CPA Canada), the Institute of Chartered Accountants of Scotland
(ICAS), and the International Federation of Accountants (IFAC) have
released Complexity and the professional accountant: Practical guidance for ethical decision-making, the first in a series of four thought leadership pieces.
“We’re
on a journey to reimagine the future of the accounting profession,”
said Charles-Antoine St-Jean, president and CEO, CPA Canada. “Digital
disruption and shifting societal expectations are redefining the role of
professional accountants around the world. Our collective response to
these opportunities, challenges, and ethical implications will impact
our ability to remain trusted leaders, on the forefront of change. This
paper, and those to follow, contribute to important conversations as we
adapt and help shape the future.”
This initial publication
developed by CPA Canada builds on a collaborative exploratory paper and
global roundtable event, called Ethical Leadership in an Era of
Complexity and Digital Change, held in conjunction with ICAS and IFAC.
The first of the series addresses key themes presented in the
exploratory work, leveraging the event discussions and recommendations,
to offer practical guidance for professional accountants, accounting
organizations, educators and employers.
“Ethical leadership is
crucial to the future success of the accountancy profession, and the
global financial system as a whole,” said Kevin Dancey, CEO of IFAC. “As
a profession, it is our core ethical foundation, coupled with our
skills and competencies, that enable us to navigate the opportunities
and challenges of the digital age, while maintaining our public interest
responsibility.”
The development of Complexity and the
professional accountant: Practical guidance for ethical decision-making
was also informed by the ongoing work of the Technology Working Group of
the International Ethics Standards Board for Accountants (IESBA) and
the diverse views of stakeholders gathered through its extensive
outreach.
“The accounting profession needs to continually evolve
to address changing stakeholder needs while continuing to meet its’
public interest responsibility” notes, Bruce Cartwright CA, ICAS CEO,
adding: “The only certainty is that there will be more regular
advancements in technology. It is therefore imperative that we properly
consider the associated ethical implications of technology and help
shape the future.”
Complexity and the professional accountant:
Practical guidance for ethical decision-making, along with the
collaborative exploratory paper, a summary of the February 2021 event,
including an on-demand recording and additional resources, are all
available on the IFAC Knowledge Gateway.
The upcoming papers in the series will cover the following interconnected but distinct topics:
- Technology is a double-edged sword
- Identifying and mitigating bias and mis-/disinformation
- Mindset and enabling skills
© IFAC - International Federation of Accountants
Key
Hover over the blue highlighted
text to view the acronym meaning
Hover
over these icons for more information
Comments:
No Comments for this Article