Trust in professionals rests on ethical conduct, competence and commitment to the public interest, not just client engagement, says Australian Financial Security Authority Chief Executive Tim Beresford.
Writing in Chartered Accountants ANZ’s Quarterly Ethics Digest, Mr Beresford said conduct by accountants, insolvency practitioners and advisers shapes confidence in the wider systems that support economic activity.
While compliance and technical capability are crucial, a strong organisational culture guides professionals do the right thing in all situations, including those involving pressure, uncertainty or competing interests.
“Compliance asks whether the minimum requirement has been met. Professional culture asks what standard of conduct people choose when the answer is not prescribed,” he wrote.
“For insolvency practitioners, that responsibility is particularly clear. As officers of the court, doing the bare minimum is not enough. The role requires independence, objectivity and judgement in service of the system.”
Read the article on CA ANZ’s website.
