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’.
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Notes to Editors
ACCA (the Association of Chartered Certified Accountants) is the global body for professional accountants, offering business-relevant, first-choice qualifications to people of application, ability and ambition around the world who seek a rewarding career in accountancy, finance and management.
ACCA supports its 198,000 members and 486,000 students in 180 countries, helping them to develop successful careers in accounting and business, with the skills required by employers. ACCA works through a network of 101 offices and centres and more than 7,291 Approved Employers worldwide, who provide high standards of employee learning and development. Through its public interest remit, ACCA promotes appropriate regulation of accounting and conducts relevant research to ensure accountancy continues to grow in reputation and influence.
Founded in 1904, ACCA has consistently held unique core values: opportunity, diversity, innovation, integrity and accountability. It believes that accountants bring value to economies in all stages of development and seek to develop capacity in the profession and encourage the adoption of global standards. ACCA’s core values are aligned to the needs of employers in all sectors and it ensures that through its range of qualifications, it prepares accountants for business. ACCA seeks to open up the profession to people of all backgrounds and remove artificial barriers, innovating its qualifications and delivery to meet the diverse needs of trainee professionals and their employers.