ETHICAL LENS CIMA ROUNDUP OF RESPONSIBLE BUSINESS ISSUES - FEBRUARY 2017 1 · www.cimaglobal.com/ethicallens IN THIS ISSUE Ethical Due Diligence in Recruitment Promoting Internal Trust World’s Most Ethical Companies Edelman Trust Barometer Better business means a better world ETHICS ARE IMPORTANT TO ME BECAUSE... ‘They help us decide what is right, and what is wrong. This helps us decide how to act and behave, in both our social and professional lives. Employers place a huge emphasis on ethics, and that’s why it features so heavily in the CIMA syllabus’ Shane Balzan, Head of Syllabus Development- Management Accountant
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ETHICAL LENS - CIMA ethics docs...Edelman Intelligence released their annual trust and credibility survey, 2017 Edelman Trust Barometer. Concerningly findings revealed the largest-ever
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ETHICAL LENS
CIMA ROUNDUP OF RESPONSIBLE BUSINESS ISSUES - FEBRUARY 2017
1 · www.cimaglobal.com/ethicallens
IN THIS ISSUE
Ethical Due Diligence in Recruitment
Promoting Internal Trust
World’s Most Ethical Companies
Edelman Trust Barometer
Better business means a better world
ETHICS ARE IMPORTANT TO ME BECAUSE...
‘They help us decide what is right, and what is wrong. This helps us decide how to act and behave, in both our social and professional lives. Employers place a huge emphasis on ethics, and that’s why it features so heavily in the CIMA syllabus’
Shane Balzan,
Head of Syllabus Development- Management Accountant
2 · Ethical Lens
NEWS
Accountancy plays major role in UN Global Goals
IFAC have identified eight Sustainable Development Goals where the
accountancy profession, professional accountants working in business and the
public sector have the most significant part to play. This new global agenda for
sustainable development and further guidance is laid out in a new report for the
profession.
» Read the full report here
REPORTS & EVENTS
Recruiting Ethically
CIMA partnered with the Institute of
Business Ethics to provide guidance on
ways that businesses can recruit
ethically: Ethical Due Diligence in Hiring
and Assessing Professional
Accountants. This guidance highlights
how there are many stages to
conducting ethical due diligence in
recruitment: some include: identifying
values, involvement of HR, pre-screening, interview process,
and a pre-offer screening. It also includes a case study and
statements from Britvic GB, and Metro Bank.
»Access the full CGMA report here
Promoting Internal Trust
What does trust mean? What are the warning signs of a
breakdown in trust in organisations? What are the roles
of accountants in business?
These were some of the
topics of discussion during
the roundtable hosted by St
Paul’s Institute and CIMA as
part of an ongoing joint
programme on ethical
culture. The discussion report Internal Trust: Building
alliances from within explores the subject of trust and
how to create structures that encourage stronger
working relationships and alliances.
» Access the full report here and see related work here
UN Forum on Business & Human Rights
The fifth annual UN Forum took place in November 2016 in Geneva bringing together
business and human rights practitioners from different sectors to highlight challenges
in implementing the UN Guiding Principles on Businesses and Human Rights.
CIMA Executive Vice President – Academics, Noel Tagoe spoke in a panel discussion on “How accountants can assure
respect for human rights”. The session was chaired by NED, and IESBA member Claire Ighodaro and other panellists included
Paul Druckman; NED and capital market performer, Richard Karmel, Managing Partner at Mazars LLP and Ian Peters, Chief
Executive Chartered Institute of Internal Auditors. The session focused on ways accountants can exercise and increase their
influence to drive respect of human rights within their organisation. See the CGMA article on what accountants are doing.
» More on the Human Rights forum can be found here
The IFAC Global Knowledge Gateway provides insight, ideas and information from around the globe, related to ethics, governance, sustainability and a range of other areas. You can find out more about the Gateway in this short YouTube animation.
Latest on the Global knowledge Gateway: read about new IFAC appointed President Rachel Grimes; what will drive accounting in Africa; Financial Accounting Standards Board improvements to revenue recognition; fraud and corruption and the 2016 IESBA Handbook. Also find out about the global events hosted by the European Federation of Accountants and Auditors for SMEs and the Global Ethics Summit.
NOCLAR: In July this year responsibilities responding to the non-compliance with laws and regulations (NOCLAR) will come into force. As this impacts on all CIMA students and professionals you should familiarise yourself on proposed actions.
» Visit the IFAC Global Gateway
REPORTING
Ethisphere 2016: World’s Most Ethical
Companies
In January 2017 the
Ethisphere Institute
published the World’s Most
Ethical Companies 2016:
Special Research Report.
The report looks at three main areas including: processes and
practices of leading companies; the impact of a transparent
and open culture and enabling ethical leadership. These
areas allow a clearer understanding of how leading
companies are gaining competitive advantage. Assessment
of culture and programmes are seen to be increasing.
The report includes info-graphics and one highlights that the
top five risks for organisations in 2016 were anti-corruption
bribery; conflict of interest; privacy; gifts and entertainment
and financial integrity and fraud which are key areas for
accountants.
» The full report can be purchased here and the info-graphic
data can be found here
CIMA Centre of Research
Excellence
CIMA’s South African
Research Centre of
Excellence (CoE)
awarded Elmar Venter
with a research grant
which allowed him to
conduct research on
Early Evidence on the Economic consequences
associated with Integrated Report Quality.
The research was sponsored by many companies
including KPMG, Barclays, and Liberty and exemplifies
strong levels of international collaboration.
The study concludes using integrated reporting models
has positive economic benefits. This could lead to
better presentation of information and a considerable
change in organisations decision-making processes.
» Find the summary research paper here and the full
» Access the full Transparency International report here
Financial Service managers urged
to be ethical The report Good Leadership launched by Chartered Insurance Institute and Chartered Management Institute investigates the ethical culture of management within the financial services industry. The authors of the report suggest that managers are aware they could do better at defining the ethical position of their organisation. Some of the reasons for poor ethical standards at work are due to: 1. Links between a managers personal background
and ethical behaviours 2. Managers behaving more ethically in their home
life than at work 3. Financial service leaders suppressing empathy
becoming less concerned with outcomes The report calls for financial services to provide good leadership through nine steps. Some of them include:
Developing a culture that engages the spirit of regulation
Rewarding and recognising ethical behaviour
Promoting diversity through recruitment and promotions