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ACCA moot explores preparations for ethical future

By Our Correspondent
October 17, 2018

Islamabad : The Association of Chartered Certified Accountants marked the Global Ethics Day on Tuesday with an aim to explore how businesses are preparing for an ethical future in the face of threats and challenges presented by globalisation, technology, and human psychology.

The guest of honour on the occasion was former chairperson of the Competition Commission of Pakistan Rahat Kaunain Hassan, who spoke on ‘Ethics: key pillar for an emerging Pakistan’.

She said ethics was not only about doing things or saying things and instead, it’s also about restraint.

Rahat Kaunain regretted that by and large, the people were so entrenched in following the ‘doctrine of expediency’ that they didn’t realise how coward they’d become.

“With over eight years of public service experience and over 15 years of private practice, I have learned that not understanding the principle of conflict of interest is endemic on both sides.

While we all know its meaning, we’ve somehow positioned ourselves to view this doctrine as only being enforced against others,” she said.

She said as a mother of four, if she’d to opt for one virtue for her children, it would be to have the right values i.e. the ability to choose right and wrong, while the same was advisable for professionals. “We’re accountable for our doings and we must do what’s due,” she said.

Rahat Kaunain said people could purchase status, merit, qualifications and awards but respect in society had remained non-purchasable and it would come only if they worked hard enough and where it was due.

Head of ACCA Pakistan Sajjeed Aslam said ethics were required and the people had to change their fundamental habits and basic code of conduct and had to demonstrate those practices, which they’re necessarily known for.

He said it’s not people’s opinions and instead, it’s the people’s actions, which brought about the change.

ACCA senior marketing manager Hina Nasir said the association had a 114 years history of challenging status quo and leading the profession globally, while ethics had always been the core of ACCA qualifications and ACCA rulebook.

“Today, when look at the level of progress in Pakistan around Sustainable Development Goals, Ease of Doing Business Index, Global Competitiveness Index, Human Development Index and many other similar indices, significant improvements can be driven by correcting our behaviours as an individual, as a family, as a society and above all as a nation if we choose to,” she said.

Co-founder and adviser of Teamup Zouhair Khaliq said the young generation of the entrepreneurs was building up their businesses based on strong moral and ethical values and that leaders of today should inculcate and nourish such behaviours.

ACCA chief executive Helen Brand OBE said the Global Ethics Day had provided an opportunity to everyone to think about ethical challenges and ways to handle them.

“This day reminds individuals and businesses of their ethical responsibilities and highlight why doing the right thing is so important. And this is why the ACCA is supporting the Global Ethics Day working with Carnegie and CFA Institute to shine a spotlight on all things ethical,” he said.

Founder and CEO of Roots Millennium Schools Faisal Mushtaq highlighted ‘ethics and trust in a digital age’, while TV anchor Faisal Rehman Malik spoke on ‘ethics and media’.

The News, Islamabad, Resident Editor, Aamir Ghauri, who moderated the discussion, said the people’s role models shown on television and films should showcase and promote good moral and ethical examples.

There followed a panel discussion among Sustainable Development Policy Institute executive director Dr Abid Qaiyum Suleri, Audit Oversight Board Chairman Dr Tariq Hassan, Rahat Kaunain Hassan, Zouhair Khaliq, and Deloitte Yousuf Adil Chartered Accountants Executive Director Syed Asmatullah.