ICAEW will mark Global Ethics Day this year with a series of sessions to highlight why ethics are more important than ever in today’s volatile world. 

Created by Carnegie Council of Ethics, Global Ethics Day aims to be an annual moment to empower ethics through the actions of individuals and organisations. That is why this year’s theme, Ethics Empowered | Using the power of ethics to build a better world, aims to show how combatting injustices of any kind in the world can be achieved by raising up ethics as a force for good.

As the event enters its eleventh year, the world is grappling with unprecedented challenges. From ongoing wars in multiple regions to an accelerating climate crisis to the rapid development of emerging tech, ethics has become more important than ever in equipping members to deal with these challenges.

ICAEW’s event, which is free to all members and will contribute towards CPD, offers chartered accountants a unique opportunity to engage with ethical challenges and solutions in their profession. 

The keynote address will be delivered by Michael Gallagher, Chief Investigator of the Serious Fraud Office and a former Metropolitan Police detective chief superintendent, who understands more than most the importance of ethics in fighting crime.

ICAEW President Malcolm Bacchus will open the event on a topic close to his heart. “Trust and ethics are cornerstones of our profession and the world relies on trust in order to work," he said. "Maintaining that trust, through our strong core of ethics, is part of the public interest ethos embedded in ICAEW's charter and in our strategy. In contributing to Global Ethics Day we continue to highlight the need for a more responsible and honest world.”

Bacchus served as a member of the ICAEW Ethics Standards Committee from 2015 and was its Chair from 2018 to 2022.

Other sessions will focus on recent changes to the accountants’ professional code of conduct. ICAEW Director of Regulatory Policy Sophie Wales will present the historical context and background to these changes, while Julie Matheson, partner at law firm Kingsley Napley, will explore the implications for accountants, and share illustrative case studies. 

Matheson explained: "Over recent years, in tandem with societal trends such as the #metoo movement, regulators have become increasingly focused on how poor personal behaviours of members can have an adverse impact on the reputation of the profession as a whole.

"The changes to the ICAEW’s Code of Ethics are reflective of this trend; members should be aware that actions falling foul of the new behavioural requirements in the Code will lead to regulatory outcomes.”

The event will also aim to shine an ethics light on artificial intelligence (AI) and how establishing ethical boundaries for its use is vital for organisations.

David Wray, Board Member of the International Ethics Standards Board for Accountants, who recently worked as a Senior Director of Accounting and Reporting at Huawei Global Finance, will speak about harnessing AI to combat modern slavery.

With an estimated 50 million people currently enslaved worldwide, David’s initiative, iEARTHS (Innovative Ethical AI for Remediation and Termination of Human Slavery), aims to leverage technology, ethics and expertise to address this critical global issue. Attendees will discover how innovative approaches can tackle complex humanitarian challenges.

In a series of articles Wray recently wrote for ICAEW Insights, he warns: “Until fit-for-purpose legislation catches up with technology advancements, AI companies need to establish clear and transparent values, rules, standards and principles expected in their AI development. Why? Because 8.1 billion people will ultimately be affected by AI algorithms and an estimated 50 million people are currently trapped in modern slavery needing our help right now.” 

Participants will gain valuable insights into applying ethical principles to address global issues and develop frameworks for responsible decision-making in rapidly evolving professional landscapes. ICAEW members can book their free place now.