CGMA report on ‘Managing Responsible Business’ launched by CIMA and AICPA

Thursday, 19 July 2012 00:00 - - {{hitsCtrl.values.hits}}

‘Managing Responsible Business,’ the Chartered Global Management Accountant (CGMA) survey report on the role of ethics in business, will be launched in Sri Lanka by Andrew Harding, Manager Director – CIMA, at the CIMA Auditorium on Monday 23 July 2012 at 6 p.m.

Today’s global business environment is still reeling from a number of corporate misdemeanours, underscoring the need for business ethics to feature more prominently on the corporate agenda. In order to address this need, CGMA, a joint venture between two of the world’s most prestigious accounting bodies – AICPA and CIMA, has compiled ‘Managing Responsible Business’.

Incorporating responses from nearly 2000 finance professionals in over 80 markets, this is a follow-up to the survey conducted by CIMA and Institute of Business Ethics in 2008. The survey report explores the ‘ethics divide’ within organisations and highlights the management accountants’ role in guiding their organisation to success.

The CGMA survey report draws on methodology used by the Institute of Business Ethics, exploring some key ethical questions by focusing on four business challenges:

1. Ethical culture – the ethos of an organisation and the framework and architecture to support this, including formal roles and responsibilities, codes of conduct and other policies.

2. Accounting for ethics – the range and types of information collected and analysed and how such information is reviewed and used.

3. Ethical dilemmas and pressures – the types of threats that employees, and management accountants in particular, face.

4. Business issues – core areas of ethical concerns for business and how they are prioritised.

Recognising the importance of effectively facing ethical challenges in the contemporary Sri Lankan business environment, the CIMA Sri Lanka Division will present an overview of the key findings of the report and facilitate discussion among business leaders on the impact of the four ethical disciplines mentioned above on the local business context.