Ethics is at the very heart of our reputation as individuals, our approach to the world and to other people. It is also about how others view our approach to the world, and to them. For accountants the concept of our ethics has for many years relied on an interplay between:

• integrity – how we are seen as a person by others, and how we see ourselves;

• objectivity – whether we are able to understand and view a range of criteria; and

• independence – our ability to act without being influenced by others.

Accountants and auditors are faced with a multitude of ethical challenges, for example:

• how many of our colleagues really understand the figures?

• how many of our colleagues really understand the meaning of ‘true and fair’ and therefore that many financial statement figures will have been the result of some sort of judgment?

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