Ethics and public financial management

Accountancy Europe and CIPFA jointly organise a roundtable to discuss ethics in the public sector.

If you are interested to join this debate, please send a request to Katinka Meszaros at [email protected].

More information on the event:

CIPFA’s evidence has shown that at some point in their career the majority of accountants will come under some form of ethical pressure. A changed political and financial culture means that professionals are more in ‘the line of fire’ than ever before. Professionals can be useful scapegoats for politicians when things go wrong.

A new edition of the International Ethical Standards Board of Accountants Code was released in April 2018. The new Code reinforces the fundamental principles: integrity, objectivity, professional competence and due care, confidentiality, and professional behaviour. This most recent update of the Code was approved for adoption with effect from 1 November 2018 by Council, and has become CIPFA’s Standard of Professional Practice (SOPP) on Ethics. The SOPP applies to all members, affiliate and associate members and students and as a result, all are expected to comply with its requirements. Failure to do so could lead to action under the CIPFA disciplinary scheme.

This means that CIPFA is the first professional accountancy body in the UK to adopt the new Code. CIPFA has demonstrated its leadership and support to members by also publishing revised materials, a suite of ethical case studies and conducting an ethics survey. CIPFA has produced Stories that Matter, a series of case studies to support members facing an ethical dilemma. Members can also contact a sounding board comprised of CIPFA members who can listen and, on a personal basis, advise people who are experiencing ethical dilemmas.