Drawing insights from ACCA’s global survey, we examine key challenges, emerging trends, and practical solutions for maintaining ethical excellence in the accounting profession.

Professional accountants face mounting ethical challenges. As businesses get reshaped by globalization, technology, and sustainability concerns, accountants must stay grounded in integrity and professional responsibility.

A recent ACCA survey of over 1,165 professionals across 135 countries highlights the complexities of this landscape and reveals critical insights into the future of ethical leadership in accountancy. [1]

Why Ethics in Accountancy Matters More Than Ever

The role of accountants extends far beyond crunching numbers; they are custodians of trust, tasked with ensuring transparency and accountability. The ACCA survey underscores three main drivers shaping ethical challenges today [2]:

• Globalization’s Double-Edged Sword: While businesses benefit from borderless opportunities, they also face conflicting cultural norms and regulatory frameworks.
• The Rise of Sustainability Standards: Stakeholders demand honest reporting on sustainability, creating tensions between financial performance and environmental responsibility.
• Technology as a Disruptor: AI and data analytics promise efficiency but raise questions about privacy, bias, and fairness.

This convergence of forces has made ethical decision-making more nuanced than ever before.

Key Insights from ACCA’s Global Survey

To better understand the ethical pressures faced by accountants, ACCA surveyed professionals worldwide:

• Demographics: 40% of respondents were from Western Europe, 19% in Africa (including Nigeria), 17% in Asia Pacific (including China and Singapore), and the rest spread between the other regions.
• Concerns: Sustainability (30%) and technology (32%) were among the most cited ethical challenges.
• Training Gaps: While 94% feel equipped to handle ethical dilemmas, 25% believe their organisations fail to provide sufficient training.

These findings underscore the profession’s readiness but also highlight the need for robust and ongoing support systems.

The Biggest Ethical Challenges Accountants Face

The complexity of ethical decision-making has increased across the industry, prompting ACCA to examine how accounting professionals have navigated ethical challenges during the previous three-year period. [3]

1. Leadership and Culture

Ethical leadership starts at the top. Yet, many survey respondents expressed frustration over the disconnect between organizational rhetoric and actions. One participant lamented a “culture of lies and falsehoods,” highlighting the need for leaders who lead by example and prioritize ethical behavior.

2. Sustainability in Focus

With regulatory demands for sustainability reporting growing, accountants are increasingly tasked with balancing profitability with environmental and social considerations. One respondent observed:

“Companies are pushing profits at the expense of society, whether through shrinkflation, stock buybacks, or outright fraud.”

3. Technology’s Ethical Dilemmas

As AI becomes integral to decision-making, accountants grapple with questions of transparency, bias, and data privacy. One survey participant noted:

“Eliminating bias from AI systems is a monumental challenge. Ensuring fairness and transparency will require constant vigilance.”

Auditors vs. Non-Auditors: A Tale of Two Priorities

The survey revealed distinct ethical concerns between auditors and non-auditors [4]:

• Auditors focused on maintaining independence, managing conflicts of interest, and meeting stricter quality controls.
• Non-Auditors took a broader view, emphasizing the need for stronger governance frameworks and ethical oversight across industries.

Despite these differences, both groups agreed on the importance of fostering a culture of integrity, objectivity, and professional skepticism.

Are Accountants Equipped to Navigate These Challenges?

The survey highlighted a critical tension between confidence in ethical skills and the need for ongoing training[5]:

• Skills Readiness: 94% of respondents feel confident in their ability to identify and mitigate ethical threats.
• Training Gaps: 25% reported inadequate learning and development (L&D) opportunities within their organizations.
• Continuous Learning: 95% stressed the importance of ongoing professional development (CPD) to maintain and enhance ethical competencies.

Programs like ACCA’s Ethics and Professional Skills

Technology, Culture, and Governance: 60% believe the IESBA Code of Ethics should be Further Strengthened

IESBA’s three-year strategy focuses on accounting firm culture/governance and expanding the Code beyond accountancy to include sustainability assurance providers. Survey respondents largely support this direction.

60% of participants support strengthening the Code to emphasize culture and governance in accounting firms. 88% believe sustainability assurance practitioners should follow the same ethical and independence standards, regardless of profession[5].

The ACCA study points out three key areas for future focus:

1. Ethical Leadership and Culture

Strengthening organizational governance and embedding ethics into every level of decision-making is essential. Leaders must model ethical behavior and foster an environment where employees feel empowered to address ethical concerns.

2. Sustainability Assurance

As sustainability reporting becomes a cornerstone of financial integrity, accountants must align their practices with these new demands. The ACCA report calls for stronger ethical standards for all sustainability assurance providers, regardless of their profession.

3. AI and Technology Ethics

Professional bodies like the International Ethics Standards Board for Accountants (IESBA) are updating codes of conduct to reflect technology’s ethical implications. Accountants must embrace these guidelines to ensure transparency and fairness in AI-driven decision-making.

A Call to Action: Strengthening Ethics for a Better Future

The ethical crossroads accountants face today demands collective action. 

By fostering ethical leadership, investing in training, and staying vigilant against emerging challenges, the profession can uphold its reputation as a pillar of trust and accountability.

As Gabriela Figueiredo Dias, Chair of IESBA, aptly said:

“Putting ethics at the center of every business judgment and decision is the surest way to earn, restore, and strengthen public trust in all that an organization does.”

The path forward is clear: professional accountants must embrace continuous learning, foster a culture of integrity, and stay vigilant against emerging risks. Together, the profession can rise to meet the demands of this new ethical era.