Survey Evidence:Why Professional Ethics Matters
End of the Module
You have completed the Professional Ethics module. The purpose of this module was not only to explain rules, but to strengthen the professional character expected from every learner.
What you have learnt
In this module, you have been introduced to the main ethical responsibilities of accountants and accounting technicians. You have also seen how ethical conduct protects financial information, organisations, clients, employers, and the public.
Meaning of ethics
Ethics helps accountants decide what is right, fair, honest, and responsible in professional situations.
Fundamental principles
You have learnt about integrity, objectivity, professional competence and due care, confidentiality, and professional behaviour.
Threats to ethical conduct
You have learnt how self-interest, self-review, advocacy, familiarity, and intimidation threats may affect judgement.
Safeguards
You have learnt how consultation, review, documentation, disclosure, rotation, and proper controls can reduce ethical threats.
Independence
You have learnt that independence must exist in mind and in appearance, especially in audit and assurance work.
Record retention
You have learnt that records should be complete, secure, accessible, and retained for the required period.
Your responsibility after this module
Ethics is not only for examinations. It should guide how you handle records, money, information, reports, clients, employers, colleagues, and the public.
- Do not record figures that are not supported by evidence.
- Do not sign documents that you have not checked.
- Do not disclose confidential information without proper authority.
- Do not accept gifts, pressure, or relationships that affect judgement.
- Do not hide errors, fraud, weak controls, or misleading information.
- Ask for guidance when you are unsure.
- Keep proper records and protect them from loss, misuse, or alteration.
ICPAS is your institute
The Institute of Certified Public Accountants of Somaliland exists to support and strengthen the accounting profession in Somaliland. As a learner, member, or future member, you are part of a profession that depends on trust.
Being associated with ICPAS is not only a title. It is a responsibility to protect the name of the profession and to serve society with competence and integrity.
Professional commitment
As you complete this module, carry the following commitments into your studies and work:
- I will act honestly and avoid misleading records or reports.
- I will protect confidential information entrusted to me.
- I will perform my work carefully and ask for guidance when needed.
- I will avoid conflicts of interest and disclose them when they arise.
- I will respect the profession and the public interest.
- I will remember that ethical conduct is part of my responsibility before Allah and before the profession.
End of the Module
You have completed the Professional Ethics module. The purpose of this module was not only to explain rules, but to strengthen the professional character expected from every learner.
What you have learnt
In this module, you have been introduced to the main ethical responsibilities of accountants and accounting technicians. You have also seen how ethical conduct protects financial information, organisations, clients, employers, and the public.
Meaning of ethics
Ethics helps accountants decide what is right, fair, honest, and responsible in professional situations.
Fundamental principles
You have learnt about integrity, objectivity, professional competence and due care, confidentiality, and professional behaviour.
Threats to ethical conduct
You have learnt how self-interest, self-review, advocacy, familiarity, and intimidation threats may affect judgement.
Safeguards
You have learnt how consultation, review, documentation, disclosure, rotation, and proper controls can reduce ethical threats.
Independence
You have learnt that independence must exist in mind and in appearance, especially in audit and assurance work.
Record retention
You have learnt that records should be complete, secure, accessible, and retained for the required period.
Your responsibility after this module
Ethics is not only for examinations. It should guide how you handle records, money, information, reports, clients, employers, colleagues, and the public.
- Do not record figures that are not supported by evidence.
- Do not sign documents that you have not checked.
- Do not disclose confidential information without proper authority.
- Do not accept gifts, pressure, or relationships that affect judgement.
- Do not hide errors, fraud, weak controls, or misleading information.
- Ask for guidance when you are unsure.
- Keep proper records and protect them from loss, misuse, or alteration.
ICPAS is your institute
The Institute of Certified Public Accountants of Somaliland exists to support and strengthen the accounting profession in Somaliland. As a learner, member, or future member, you are part of a profession that depends on trust.
Being associated with ICPAS is not only a title. It is a responsibility to protect the name of the profession and to serve society with competence and integrity.
Professional commitment
As you complete this module, carry the following commitments into your studies and work:
- I will act honestly and avoid misleading records or reports.
- I will protect confidential information entrusted to me.
- I will perform my work carefully and ask for guidance when needed.
- I will avoid conflicts of interest and disclose them when they arise.
- I will respect the profession and the public interest.
- I will remember that ethical conduct is part of my responsibility before Allah and before the profession.
Why Professional Ethics Matters
Survey evidence shows that professional accountants may face pressure to compromise ethical standards. Understanding this pressure helps accountants protect their judgement, their profession, and the public interest.
CCAB Ethics Survey 2021
The CCAB Ethics Survey 2021 was an anonymous informal survey of professional accountants. It was designed to take the ethical temperature of the accountancy profession in the UK and Ireland over the previous three years and as the profession emerged from the COVID-19 pandemic.
The survey received 445 completed responses and more than 300 written comments. Although it was not designed as a rigorous academic study, its findings provide useful insight into the ethical pressures faced by accountants in practice.
Key survey findings
Examples of ethical pressure reported
The survey showed that ethical pressure can arise in many practical areas of accounting, finance, audit, procurement, and reporting. Common examples included:
- Excessive optimism in budgets, business cases, cash flow forecasts, and plans.
- Unreasonably downplaying risks in budgets, business cases, cash flow forecasts, and plans.
- Categorising personal expenses of employees, directors, or shareholders as company expenses.
- Getting around local policies, standing orders, financial instructions, or procurement regulations.
- Altering audit opinions or issuing favourable reports despite weak internal controls.
- Not obtaining sufficient appropriate audit evidence.
- Incorrect tax treatment or manipulation of reported performance.
- Failing to report unethical behaviour by a colleague.
Consequences of ethical pressure
Ethical pressure does not only affect financial statements or reports. It can also affect the accountant personally. The survey found that almost one third of respondents who faced pressure experienced anxiety, stress, or depression.
Some respondents resigned, were removed from their role, faced disciplinary processes, or suffered damage to professional relationships. This shows why ethical culture, support systems, and professional courage are important in accounting practice.
Other survey evidence
Key message
The survey findings show that ethical pressure is real. Professional accountants need more than technical knowledge. They also need ethical awareness, professional judgement, courage, and support when facing pressure.
As you continue this course, think about how the five fundamental principles can guide your decisions when you face pressure, conflict of interest, intimidation, confidentiality concerns, or financial incentives.
References
- Consultative Committee of Accountancy Bodies. (2021). CCAB Ethics Survey 2021.
- Institute of Management Accountants and RSM US LLP. (2019). Survey on ethical pressure and compliance issues among finance professionals.
- International Federation of Accountants. (2019). IFAC Global SMP Survey.
- International Ethics Standards Board for Accountants. International Code of Ethics for Professional Accountants, including International Independence Standards.
Why Professional Ethics Matters
Survey evidence shows that professional accountants may face pressure to compromise ethical standards. Understanding this pressure helps accountants protect their judgement, their profession, and the public interest.
CCAB Ethics Survey 2021
The CCAB Ethics Survey 2021 was an anonymous informal survey of professional accountants. It was designed to take the ethical temperature of the accountancy profession in the UK and Ireland over the previous three years and as the profession emerged from the COVID-19 pandemic.
The survey received 445 completed responses and more than 300 written comments. Although it was not designed as a rigorous academic study, its findings provide useful insight into the ethical pressures faced by accountants in practice.
Key survey findings
Examples of ethical pressure reported
The survey showed that ethical pressure can arise in many practical areas of accounting, finance, audit, procurement, and reporting. Common examples included:
- Excessive optimism in budgets, business cases, cash flow forecasts, and plans.
- Unreasonably downplaying risks in budgets, business cases, cash flow forecasts, and plans.
- Categorising personal expenses of employees, directors, or shareholders as company expenses.
- Getting around local policies, standing orders, financial instructions, or procurement regulations.
- Altering audit opinions or issuing favourable reports despite weak internal controls.
- Not obtaining sufficient appropriate audit evidence.
- Incorrect tax treatment or manipulation of reported performance.
- Failing to report unethical behaviour by a colleague.
Consequences of ethical pressure
Ethical pressure does not only affect financial statements or reports. It can also affect the accountant personally. The survey found that almost one third of respondents who faced pressure experienced anxiety, stress, or depression.
Some respondents resigned, were removed from their role, faced disciplinary processes, or suffered damage to professional relationships. This shows why ethical culture, support systems, and professional courage are important in accounting practice.
Other survey evidence
Key message
The survey findings show that ethical pressure is real. Professional accountants need more than technical knowledge. They also need ethical awareness, professional judgement, courage, and support when facing pressure.
As you continue this course, think about how the five fundamental principles can guide your decisions when you face pressure, conflict of interest, intimidation, confidentiality concerns, or financial incentives.
References
- Consultative Committee of Accountancy Bodies. (2021). CCAB Ethics Survey 2021.
- Institute of Management Accountants and RSM US LLP. (2019). Survey on ethical pressure and compliance issues among finance professionals.
- International Federation of Accountants. (2019). IFAC Global SMP Survey.
- International Ethics Standards Board for Accountants. International Code of Ethics for Professional Accountants, including International Independence Standards.