On anniversary of the global financial crisis, ACCA warns of new ethical risks
On the tenth anniversary of the global financial crisis, ACCA (the Association of Chartered Certified Accountants) warns that business cannot afford to be complacent about the importance of ethics.
John Williams, Head of ACCA UK, says,
‘The financial crisis was precipitated by a failure on the part of a number of major institutions to behave ethically. Trust in business, government and regulators was profoundly damaged as a result.
‘While lessons have been learned, we should also be conscious that the next crisis may come from left field. The rise of digital technologies such as blockchain and bitcoin have the potential to revolutionise how market participants interact. We need to develop robust frameworks which can deal with these new challenges.
‘As well as embedding ethics as a core component in our qualification ACCA is leading the debate on trust in a digital age and will be publishing this week a major new report on Ethics and Trust In A Digital Age. By promoting debate on this important issue we hope we can help mitigate the risk of the next major crisis’.