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Do the right thing with new ethics tool

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18th Sep 2013
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The Chartered Institute of Management Accountants (CIMA) has produced an ethical scenario tool to show professionals how to “do the right thing” and comply with ethical standards.

The new interactive tool helps support and guide business people through ethical decision-making situations.

It takes the user through a series of challenges in areas such as conflict of interest, the supply chain, bribery and data protection, and then tells you the issues to consider and the outcome of your decision.

Its release follows a recent Chartered Global Management Accountant (CGMA) survey which revealed nearly 25% of respondents worked for an organisation that had suffered from a serious reputational failure.

This rose to more than a third in the UK, which has seen a series of corporate crises in recent months ranging from Libor to tax avoidance and meat scandals.

The research also highlighted that one in three finance professionals around the world have faced pressure to act unethically.

Tanya Barman, CIMA’s head of ethics, said the institute wants to encourage better working cultures that lend themselves to the ethical standards that most firms subscribe to.

“Ethical challenges are part of working life, and often there is no perfect answer. But if they are not dealt with appropriately, there may be severe consequences when they come to light – both for the individuals and for the companies they work for.

“Unfortunately it is still common for employees, be they in finance or in other parts of the business, to face pressure to compromise their ethical standards, and the standards of their company. It is vital to act ethically; to build long-term business success and avoid the shortcuts that can turn into tomorrow’s scandal,” she said. 

The new tool, which was created with input from members globally, is available on the CIMA website.

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By The Black Knight
19th Sep 2013 12:55

one in three?

"The research also highlighted that one in three finance professionals around the world have faced pressure to act unethically."

Were the other 2 liars then or just felt no pressure and complied?

Bizzare

It's a daily thing.

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