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Research undertaken by the Association of Chartered Certified Accountants (ACCA) reveals 55% of respondents have witnessed unethical behaviour in their careers in the past three years and a quarter have been pressured to act in an unethical manner.

The APES 110 Code of Ethics for Professional Accountants (Australia), the NZICA Code of Ethics (New Zealand) and the International Code of Ethics for Assurance Practitioners (PES 1) all outline the fundamental principles of ethics for professional accountants and establish the standard of behaviour that is expected. These principles are:

1. Integrity

2. Objectivity

3. Professional competence and due care

4. Confidentiality

5. Professional behaviour

However, confidentiality leaks, privacy breaches and greenwashing are just three examples of how your ethical judgement could be compromised.

The emergence of AI and advanced technologies also present ethical challenges for accountants. In June 2024, the Accounting Professional and Ethical Standards Board (APESB) issued an Amending Standard to APES 110 for technology-related revisions. The amendments came into effect on 1 January 2025 and align with the IESBA International Code by incorporating technology-related considerations into the principle of professional competence and due care.

“Accountants are likely to face ethical dilemmas at some point and they are not necessarily the controversial, scandalous issues that make headlines,” says Leigh Walker CA, regional risk management and independence leader, Oceania, at EY. “They’re challenges we face on a day-to-day basis, such as conflicts of interest.”

How can accountants prepare for an ethical challenge? Walker suggests these three strategies:

1. Plan for a dilemma

Have you developed a close friendship with an audit client? Did you run out of time to double-check the output from an AI platform? Has your manager asked you to overlook some numbers in the financial reports?

Have you considered how you would respond if these issues arose?

Walker says one way to prepare is to reflect on how you would respond in advance. “Think about ethical dilemmas that other firms might have encountered and take the time to think: ‘How would I have approached that and what would be my line in the sand in that matter?’”

“It’s a way of practising how to respond when you face your own ethical dilemma.”

2. Be curious and ask questions

At busy times of the year, it’s easy to feel rushed into making decisions, but this can compromise the quality and integrity of your choices.

“Prioritise curiosity and ask for more information before making decisions,” says Walker. “Rushing to judgement and reaching a conclusion quickly can result in poor decision making.”

She suggests asking: “What else should I know about this? Who else should be involved? How much time can I take to think this through?”

3. Have robust ethical discussions

Have you witnessed an ethical compromise? Or are you facing one now? Walker recommends speaking up.

“I have the great fortune of working with more than 750 partners, so I know there’s someone I can bounce ideas off. My advice is to lean on your network—whether internal or through the CA ANZ community—so you don’t feel like you’re on your own.”

“We all want the profession to perform at a high level and with integrity, ethics and trust,” says Walker. “There are plenty of people out there who are willing to help you make the right choice.”

Members of CA ANZ have access to the Chartered Accountants Advisory Group (CAAG), a confidential support service of senior professionals who can assist with ethical and professional challenges.

Explore more

To celebrate Global Ethics Day, CA ANZ hosted a webinar: Global Ethics Day: The Relationship Between Ethics and Trust. A panel of experts in accounting, business and the public sector—including Leigh Walker CA—explored how ethical leadership builds trust and strengthens the profession’s reputation. Watch it here.