Ethical Leadership in an Era of Complexity and Digital Change: Third paper released

TORONTO, Feb. 28, 2022 /CNW/ - In an era where "fake news" and spin are ever present, even in the world of business, finance professionals need to be diligent to make sound and objective decisions based on facts. To address that growing need, the Chartered Professional Accountants of Canada (CPA Canada), the Institute of Chartered Accountants of Scotland (ICAS), the International Ethics Standards Board for Accountants (IESBA), and the International Federation of Accountants (IFAC) have released Identifying and mitigating bias and mis- and disinformation, the latest publication in a series examining the impact of rapid technological change on ethical leadership and the accounting profession.

The third installment in a four-part series examines the high-stakes impact that bias and mis- and disinformation have on trust and objective decision-making.

"Professional accountants are trusted as a source of reliable and objective information, but we are not immune to the dangers of bias, mis- and disinformation that challenge objectivity and make it difficult to assess information and make competent decisions," said authors Brian and Laura Friedrich. "We need to be diligent in applying professional skepticism and an inquiring mind to ensure we help combat these issues, in line with our public interest responsibilities."

Identifying and mitigating bias and mis- and disinformation considers a layered approach to meeting relevant professional obligations and revisits some of the themes from prior papers. Guidance is provided as to practical implications for both professional accounting organizations and individual professional accountants.

Identifying and mitigating bias and mis- and disinformation follows the first two publications in the series - Technology is a double-edged sword: Opportunities and challenges for the accountancy profession and Complexity and the professional accountant: Practical guidance for ethical decision-making. It builds off a collaborative exploratory paper and global roundtable event called Ethical Leadership in an Era of Complexity and Digital Change, which CPA Canada, ICAS and IFAC jointly hosted in 2021. The fourth publication in the series will focus on mindset and enabling skills.

The publication is available on the CPA Canada Foresight Trust and Ethics webpage, the IFAC Knowledge Gateway and the IESBA's webpage Technology: Ethics & Independence Considerations.

About CPA Canada
Chartered Professional Accountants of Canada (CPA Canada) works collaboratively with the provincial, territorial and Bermudian CPA bodies, as it represents the Canadian accounting profession, both nationally and internationally. This collaboration allows the Canadian profession to champion best practices that benefit business and society, as well as prepare its members for an ever-evolving operating environment featuring unprecedented change. Representing more than 220,000 members, CPA Canada is one of the largest national accounting bodies worldwide. ?cpacanada.ca   ?

About ICAS
The Institute of Chartered Accountants of Scotland (ICAS) is the global professional body for Chartered Accountants. We educate, examine and lead, enabling excellence whilst always working for the wider public good. All 23,000 ICAS members have earned our world-class CA designation of Chartered Accountant, the qualification that's shaped an international business community spanning industries and continents, full of local heroes and corporate leaders. And we continually foster the bonds between our members, so CAs at all stages of their careers can learn from shared experience and connect their ambitions to success. For further information please visit ? icas.com.

About IESBA

The International Ethics Standards Board for Accountants (IESBA) is an independent global standard-setting board. The IESBA's mission is to serve the public interest by setting ethics standards, including auditor independence requirements, which seek to raise the bar for ethical conduct and practice for all professional accountants through a robust, globally operable International Code of Ethics for Professional Accountants (including International Independence Standards) (the Code).

About IFAC

The International Federation of Accountants (IFAC) is the global organization for the accountancy profession dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. Comprised of 180 members and associates in more than 130 countries and jurisdictions, IFAC represents more than 3 million accountants in public practice, education, government service, industry and commerce.

Over four decades, IFAC has represented the global profession and supported the development, adoption, and implementation of international standards that underpin the contributions of today's global accountancy profession. IFAC has maintained a long-term approach to building and strengthening a global accountancy profession that supports transparent, accountable, and sustainable organizations, financial markets, and economies.

SOURCE CPA Canada