16 May 2005050516
16 May 2005
At the University of East Anglia on 13 May, a lecture by CIMA President Professor Roland Kaye, highlighted the fact that in order for business ethics to succeed, a contract of trust between governments, regulators and the accountancy profession must be established and this contract must never be broken.
Following high profile failures such as Enron and WorldCom, as well as a number of other subsequent scandals, the role of accountants and managers has come under increased scrutiny. A recent report by the Professional Oversight Board for Accountancy (POBA) has recommended that every individual in the supply line of information bears responsibility for ensuring the quality and reliability of that information.
During the lecture, Professor Kaye, addressed the following issues:
- How does a strong ethical framework impact upon accountants, managers and senior executives?
- How does this affect training and continuing professional development?
- Are regulators up to speed with this?
- What is the future role of the professional accounting body?
Following the lecture Professor Nikolas Tzokas, Dean of the School of Management, UAE, chaired a forum with Tim Cooper Jones, Group Executive Director and Company Secretary of George Adams and Sons (Holdings) Ltd, Charles Clayton, Group Director of Risk Management at the Compass Group and Professor Morten Hviid Professor of Law at the Norwich School of Law, participating.
Professor Roland Kaye, CIMA President and Chair in Management Accounting, School of Management, University of East Anglia, commenting on the event, said, 'We had an interesting debate with participants welcoming the chance to debate. The consensus seemed to be that organisations need to be more explicit about their values and cannot rely on the accountants and their codes to be the conscience. The issue of whistle blowing and the need for the professions to defend a case was suggested as a test of substance. '
For further information, please contact:
Steven Hilton
Press Officer
020 8849 2427
steven.hilton@cimaglobal.com
Notes to editors
1. CIMA (the Chartered Institute of Management Accountants) is a leading professional body that offers an internationally recognised qualification in management accountancy, focussing on accounting in business. It is the fastest growing UK based membership body, in terms of members, in both the UK and worldwide and is the voice of over 85,000 students and 65,000 members in 156 countries. CIMA is responsible for the education and training of management accountants who work in industry, commerce and not-for-profit and has more members in the public sector than any other UK based body. CIMA prides itself on the commercial relevance of its syllabus, which is in tune with the activities of high performance organisations, and evolves continually reflecting the latest developments in global business. It is committed to upholding the highest ethical and professional standards of members and students, and to maintaining public confidence in management accountancy.