New initiative should improve ethics and governance among auditors

A new international project aims to improve the culture and governance of accountancy firms worldwide, reduce the risk of unethical behaviour, restore trust in the accountancy sector and strengthen the public role of the industry.

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The initiative follows a report prepared in response to a number of ethics scandals in the accountancy sector, which concluded that some accountancy firms face 'widespread' unethical behaviour. This is an excellent and urgent initiative at European level, but without rigorous enforcement and effective sanctions with a deterrent effect, it too risks remaining a dead letter. It is vital that these elements are at the heart of implementation.

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