Regulator takes steps to stamp out exam cheating
Following the recent Big Four exam cheating scandals across the globe, the accounting watchdog has called on audit firms and professional bodies to ensure similar cheating doesn’t happen in the UK.
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"the accounting watchdog has called on audit firms and professional bodies to ensure similar cheating doesn’t happen in the UK"
The same audit firms where the cheating was found to be endemic and approved at senior levels (and where the official line to the SEC was 'nothing to see here' even when they knew otherwise) ... but now they've been asked nicely, that's all sure to change immediately?
The Imprudent Accountant is right (but a voice in the wilderness) in saying what is needed: "lengthy, possibly lifetime, bans for anyone found .. facilitating cheating .. extend(ed) to those running firms where such behaviour is carried out on a wide scale"
' “Personally, I would extend this to those running firms where such behaviour is carried out on a wide scale since ultimately, they are the people that need to sort out this mess,” they said. '
Has that person declared a preferred pronoun?
People running the big firms really do not understand other people
Loads of staff know about cheating
Information will leak once they either move on or are pushed
Cheating on an exam about moral principles, behaviour and conduct, you cannot make this stuff up.
Unless the fines come with stricter penalties for those in charge and real consequence, these cost of business fines will continue.
Name and shame those accountable for these things, oust them from the industry, personal fines and disciplinaries .
It rather sums up my view you cannot teach or train people to act ethically. You can only select people who act ethically and dismiss those that do not.
Cheating in an audit ethics exam is surely worth a distinction? Those are exactly the candidates who need to be fast tracked for partnership judging by the recent audit failures by the big 4.
I am now very confused. So you can't cheat in an audit ethics exam, but you can falsify actual audit reports resulting in huge financial losses to the general public?!
According to the council, suspicious behavior by the agents was detected, and as a result, disciplinary procedures are now in motion. Those accused now face losing their licences to sell insurance. Although the allegations have yet to be proven, the regulator has saw fit to suspend the licences of the agents in question. “Council was concerned that because of the allegations of cheating, they took the additional step of suspending the agents’ licences until hearings have been made,” says Insurance Council of British Columbia Executive Director Gerry Matier. “Basically, it means they have a right to be heard, but they won’t be allowed to do any work until council is satisfied that it is wrong.”