How ethical is the accountancy profession?
What would you do if you found out that your boss was participating in unethical actions?
a) Resign – you don’t want to be associated with a firm that undertakes unethical practices
b) Make his or her boss aware of your concerns
c) Remain in your job and tell HR/accountancy body/POB
d) Resign and then tell HR/accountancy body/POB
e) Do nothing – reporting on my boss won’t pay off and will only damage my reputation
f) Confront them with your suspicions
If an employee reports the misconduct of a colleague, do you think businesses do enough to ensure the whistleblower is protected against victimisation or dismissal?
a) Yes
b) No
Do you think they are protected from victimisation or dismissal if they report the wrongdoing of a client?
a) Yes
b) No
What percentage of UK accountants do you think have helped their clients create a set of accounts which are deliberately misleading?
a) Less than 5%
b) Between 5-10%
c) Between 10-20%
d) More than 25%
e) At least 50%
And US accountants?
a) Less than 5%
b) Between 5-10%
c) Between 10-20%
d) More than 25%
e) At least 50%
And European accountants?
a) Less than 5%
b) Between 5-10%
c) Between 10-20%
d) More than 25%
e) At least 50%
Have you, or anyone else you know, been pressurised by a manager or partner to ignore an adjustment that should have been made to a set of accounts?
a) Yes – me personally
b) Yes – I know of it happening
c) No
Have you ever been aware of senior people at work taking a decision which deliberately chose a commercial result over an ethical objection?
a) Yes
b) No
Do senior people in your organisation appear to be resolutely independent in how they act in the face of commercial pressures?
a) Yes
b) No
Do you think that it is acceptable for the engagement team of an accountancy firm to have intimate relationships with their clients?
a) No
b) Yes, but only if it is a private client
c) Yes, as long it is not someone directly in the client team
Do you think it is acceptable to receive gifts from clients?
a) Of course, that’s the way business works
b) Yes, as long as it is allowed in the firm’s policy
c) No, I think accounting firms or other businesses should have a policy not to accept gifts
What do you consider an excessive value gift?
a) More than ₤50
b) More than ₤150
c) More than ₤250
d) More than ₤500
e) More than ₤1000
f) You can’t put a limit on a gift if you have done a good job for a client
Does your company have a ban on office relationships?
a) Yes
b) No
Do you think companies should ban office relationships?
a) Yes
b) No
c) Certain ones (eg between people who work closely together and/or those involving a direct report)
If a boss has a relationship with a junior member of staff, could this be viewed as an abuse of the boss’s power since the junior member may feel their career will be harmed if they don’t continue?
a) The boss is exploiting his power so the relationship should not be allowed
b) The junior is exploiting the situation to further his/her career so the relationship should not be allowed
c) You can’t stop these things happening even if there are strong policies in place
Do you think accountancy bodies are doing enough to promote awareness of ethical standards?
a) Yes
b) No
c) Could be doing more
How seriously do you take the prospect of a punishment from your Institute?
a) Bit of a joke
b) Seriously
c) Not at all
d) Only relevant for anyone working in a Big 4
If someone signs off a deliberately misleading set of financial statements what do you think the punishment should be?
a) A hefty fine
b) To be reprimanded by their boss
c) Fired from their job
d) Banned from practising as an accountant
e) Prison
Should an accountant’s ethics be governed by set rules or are principles sufficient?
a) Rules
b) Principles
In your experience, which of the following professions do you think are the most trustworthy?
a) Accountants
b) Lawyers
c) Management consultants
d) Corporate bankers
e) Corporate financiers
f) Investment bankers
