The Chartered Institute of Management Accountants (CIMA) has launched a new online ethics decision-making tool designed to help accounting and finance professionals make ethically sound decisions in tough situations.
The tool’s launch is part of the Institute’s month-long campaign celebrating the UN Sustainable Development Goals, culminating today on Global Ethics Day, CIMA noted.
This year’s Global Ethics Day on Oct 21is a good reminder that accounting and finance professionals have a duty to act with integrity and in the public interest, said Andrew Harding, FCMA, CGMA, Chief Executive – Management Accounting.
“As companies continue to deal with the knock-on effects of coronavirus and face severe financial strains, an increasing number of professionals may encounter ethical challenges and moral dilemmas,” he noted.
According to the EY Global Integrity Report 2020, 90% of global businesses believe that coronavirus is a threat to ethical business behaviour.
The accountancy body’s new interactive ethics tool guides accounting and finance professionals facing an ethical dilemma through a series of questions to ensure they consider all relevant factors in their decision-making process, prompting them to seek further professional support where appropriate, CIMA said.
In addition, CIMA updated earlier this year its Code of Ethics, with which members and students are required to comply, the accountancy body added.
