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Accountancy & Ethics Standards In 2023

Updated: Oct 18, 2023

The Global Accounting Alliance (GAA) has emphasised the importance of ethics, particularly at a time of economic stress when finances are under pressure. For Global Ethics Day 2023, we report on the statement the GAA made that called on every professional accountant to continue to do the right thing.

‘Holding yourself and your peers accountable to your code of ethics is more than being compliant with your membership obligations – it’s the right thing to do, for everyone – in the public interest.’ Ethics must be an ‘always on’ conversation as accountants act in the public interest with a robust code of ethics. ‘We call on every professional accountant to continue demonstrating strength of character to do the right thing, especially when no one is looking and when times are tough,’ the letter stated. 'Strong business ethics and good decision making must be embedded in organisational culture, not bolted on, and maintaining public trust is critical for every organisation’s success.’

‘Ethical standards must be more than just a label. For standards to be effective, they need to be widely promoted, rigorously policed and prosecuted where necessary.’

At Culverhouse & Co, our highly qualified team meets the stringent membership criteria of the ICAEW and the CII.

The article outlines just some matters in relation to ethical accountancy. It does not represent financial advice. If you would like personalised financial advice, please contact a financial adviser. Remember that the value of investments can fall as well as rise, and that past performance is not a guide to future performance.

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