A new piece of research by the Association of Chartered Certified Accountants (ACCA) found that professional accounts are facing a new era of ethical challenges amid business scandals and evolving expectations, according to a release dated Oct 15.
Almost 70% of professional accountants surveyed in Asia Pacific said that ethical dilemmas have become more difficult to resolve in the past three years. The findings revealed that three areas ranked top for ethical challenges: leadership and culture; AI and technology; and sustainability.
Over 1,100 responses from over 135 countries were gathered, in which 17% of respondents came from Asia Pacific, and 3% came from Singapore.
The findings by ACCA saw that 55% of accountants globally have witnessed unethical behaviour in their career and almost one in four (24%) have been put under pressure to behave unethically in the last three years.
In addition, the results revealed that more men have experienced ethical pressure than women: 27% of males have been put under pressure to act in an unethical way, compared with 19% of females.
While key themes were consistent globally, there are nuances across regions in terms of top challenges over the last three years depending on the culture and environment domestically. The survey by ACCA revealed that in Asia Pacific, there were balanced concerns on AI, sustainability and fraud.
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Specific challenges include pressure to manipulate accounts, issues with audit quality due to time and resource constraints, and cultural factors such as a reluctance to challenge authority.
The differences underscore the importance of considering local factors in promoting and enforcing ethical standards, while the similarities highlight the need for a global commitment to integrity in the profession.
The author of the report, Sarah Lane, head of ethics and assurance at ACCA, said: “These insights underscore the need for robust ethical leadership and culture in organisations, and ongoing learning and development to support professional accountants in navigating these challenges in today’s evolving landscape."
