Ethics must be an ‘always on’ conversation, in the[Type here]
public interest.
A statement from the Chief Executives of the Global
Accounting Alliance (GAA) to the accountancy profession
We, the chief execu�ves of 10 of the world’s leading professional accountancy membership bodies, knowthat the accountancy profession’s ethics and integrity are central to public trust in its work.
Macroeconomic and social forces like technological innova�on and global economic uncertainty can
exacerbate the day-to-day pressures on business leaders and our members – including the pressure toact unethically. This can happen to anyone, in any profession, in any workplace, at any �me.
In a ‘�me-poor’ and pressure-laden environment, we encourage an ‘always on’ discussion about ethics.
That is why, partnering with The Economist Impact, in May the GAA hosted a thought-provoking panel
discussion, Championing ethical leadership amid competing pressures.
Our members – more than 1.4 million professionals – are woven throughout the global economy helping
strengthen businesses, governments, and ul�mately communi�es with wide-ranging services, including
ﬁnancial and sustainability repor�ng, an�-money laundering work, tax compliance, and audit andassurance.
The profession’s ethics: at the heart of global ﬁnancial markets
All our members are united by a crucial undertaking – to act in the public interest and in accordance witha robust code of ethics that promotes the profession’s core values: integrity, objec�vity, conﬁden�ality,professional competence and due care, and professional behavior. The profession’s global Code of Ethics,
issued by the independent Interna�onal Ethics Standards Board for Accountants (IESBA), is uniqueamong the world’s major professions.
The code’s importance – and the profession’s role in maintaining ﬁnancial stability – is recognized in theaudit and assurance and ethics standard se�ng governance model, overseen at its apex by theMonitoring Group, comprising some of the world’s leading ﬁnancial system ins�tu�ons:
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Basel Commitee on Banking Supervision
European Commission
Financial Stability Board
Interna�onal Associa�on of Insurance Supervisors
Interna�onal Forum of Independent Audit Regulators
Interna�onal Organiza�on of Securi�es Commissions
World Bank.

Trust must be earned, and maintained, in the public interest.
A key takeaway from the panel discussion was that strong business ethics and good decision making
must be embedded in organiza�onal cultures, not bolted on, and that maintaining public trust is cri�calfor every organiza�on’s success.

Ethics must be an ‘always on’ conversation, in the[Type here]
public interest.
We know that the public’s trust in our profession is mul�faceted. The profession’s work to act in the
public interest, and to earn and maintain public trust, is underpinned by three key factors:•••

Robust entry requirements, including stringent educa�on, good character condi�ons, and acommitment to con�nuous professional educa�on throughout our members’ careers;
Accountability to a robust code of ethics and other interna�onal standards for professional
accountants; andThe profession’s commitment to act in the public interest, including monitoring and enforcementof member ac�ons.

Together, we call on every professional accountant to con�nue demonstra�ng strength of character todo the right thing, especially when no one is looking and when �mes are tough. Holding yourself andyour peers accountable to your code of ethics is more than being compliant with your membership
obliga�ons – it’s the right thing to do, for everyone – in the public interest. While each October we markGlobal Ethics Day, ethics is our ‘every day.’

About the signatories
We are the chief execu�ves of 10 of the world’s leading professional accountancy organiza�ons,represen�ng more than 1.4 million members in over 180 countries worldwide. The GAA works to foster
high quality services, share informa�on, and collaborate on important interna�onal issues.