In a recent article published in the online magazine, The Accountant Online, Alex Malley, chief executive of CPA Australia, talks about ethics and its importance to the accounting profession. The starting assumption of his paper is that any profession needs a code of ethics, to which to be held accountable for, especially a profession such as the accounting profession that affect people and businesses throughout the world. One idea is stressed from the very beginning: [ethics] „is different to standards and regulations. It reflects our shared values, the values we subscribe to and promise we’ll live by in all professional activities. Of concern is the confusion that exists between the purpose of our ethics and the purpose of other standards.”
As Alex Malley clearly puts it: „Our ethical values are those we have developed and internalise, they are part of our professional make-up and identity. […] The Code should enable us to deliberate on ethical issues in specific situations that involve choice and get to the right solution or outcome. In order to identify what is the right outcome, we need to be clear of the aims and goals of the profession.”
It is suggested that ethics should be considered independently from standards and regulations, as it is closely related to reflection, „practical wisdom and professional judgement”. As the CPA Australia Chief executive concludes while also launching a recommendation for peers and standard-setters: „ […] laws, regulations and standards are important for any profession and they are so for ours. But let’s not outsource our ethics nor turn it into rules. While rules and standards are important they do not guarantee ethical behaviour nor promote moral deliberation that leads to ethical excellence.”
You can read the complete article on the Accountant Online website.
