Ethics Index 2018 — What does it mean for accountants?

The Ethics Index 2018 results show Australians have lost faith in corporate ethics in wake of banking scandals. The Index fell six points since 2017 — from 41 to 35 — dragged down by the poor perception of ethics in the banking sector. What does this mean for accounting professionals?

•  ●   The banking, finance and insurance sector has the lowest Ethics Index score of all sectors, dropping from -3 to -15.
•  ●   Accountants scored an ethical score of 52, the fourth highest ranking occupation behind doctors, pharmacists and local hospital staff.
•  ●   Bank managers, financial planners and mortgage brokers decreased in perception compared to 2017.
•  ●   In terms of occupations within the banking sector, accountants have an Ethics Index score of 31 — dropping three points since 2017. This implies that people perceive their own accountant as more ethical than accountants in corporate financial institutions.

What does this mean for accountants?

The Royal Commission has presented challenges and opportunities.

Following the live exposure of failings of traditional financial service providers, clients will place more demands for services from their accountants and auditors. As reported in Accountants Daily, this presents an opportunity for the accounting profession to revamp itself as the foundation stone of good advice.

Governance Institute National Conference

Purpose. Performance. Value.

Get the insights to adapt and confidently lead your firm or organisation in the right direction — while aligning business mission to societal purpose, sustainability and long-term value.

Governance Institute National Conference will address the emerging contexts for purpose, performance and value to get you thinking about:

•    ●   how to prepare for the future changes in governance standards and practices and ensure you’re doing the right thing as an accountant
•    ●   the expanding risk landscape and how this will impact existing operational and accounting frameworks
•    ●   your duties and responsibilities as an accountant.

Early Bird rate ends 15 October — book your seat today!

29 to 30 November — Crown Melbourne

•    ●   Hear from 60+ national and international governance and risk management professionals and practitioners including:

  •    ○   Paul Bloxham, Chief Economist (Australia, New Zealand and Global Commodities), HSBC Bank Australia
  •    ○   Justin Wood, Head of Asia Pacific & Member Executive Committee, World Economic Forum
  •    ○   Holly Ransom, CEO, Emergent
  •    ○   John Wylie, Founder and Principal, Tanarra Group

•    ●   Continue to build long lasting connections with the governance and risk management community.
•    ●   Gain up to 11 CPD hours.

Public Accountant reader discount

Use the discount code NC18_PUBACCT67 for an extra $150 off the early bird rate. Book now.