As the business world undergoes transformative changes driven by technology and geopolitics, the demands placed on future leaders are intensifying. For the accountancy profession, upholding ethical principles in the face of these challenges is not a distant concern but a present day imperative.

Today marks Global Ethics Day, a timely reminder that ethics is not a side issue – it’s central to the future of accountancy and business leadership. But are the next generation ready? Are they asking the right questions, seeking meaningful careers, and demanding that their education reflect the values they want to bring into the workplace?

Research suggests that their demands around ethics are clear. It’s our responsibility to meet that demand and ensure tomorrow’s leaders are equipped to uphold the trust society places in our profession.

A recent survey conducted by the HOW Institute for Society, a US-based nonprofit that promotes values-driven culture in business, revealed that the demand for moral leadership in business has grown significantly, from 86% in 2020 to 95% in 2025. While many organisations proudly display their culture, it is ultimately the individuals within them who determine whether those values are realised or left behind. That’s why preparing the next generation is so important.

At ICAS, we see this shift as an opportunity to lead and continue a tradition of ethical leadership that has defined our profession. Our syllabus embeds ethics throughout the learning journey – not as a standalone module but underpinning every aspect of professional development. It’s also why the importance of moral courage for professional accountants was emphasised in our Code of Ethics in 2017.

Students today are demanding more from their education. They want ethics integrated into their professional training, not treated as an afterthought. And institutions are starting to listen.

The Graduate Business Curriculum Roundtable’s 2025 survey underscores this shift. It found that 110 business schools and 245 graduate business programmes have updated their curricula to reflect the growing importance of technology, ethics, and workforce readiness.

There is a wider transformation in professional expectations, one that the accountancy profession must embrace. Moral awareness must evolve alongside technical capability. As artificial intelligence (AI) becomes embedded in financial systems and sustainability reporting gains regulatory traction, tomorrow’s leaders will need to continue to make decisions in these emerging areas that are not only legally sound but ethically robust.

As accountants take on broader strategic advisory roles – guiding decisions that shape corporate behaviour, influence environmental outcomes, and determine how technologies like AI are deployed – their responsibilities carry even more profound moral implications. To meet these challenges, emerging leaders must be equipped not only with technical expertise but with the ethical insight and confidence to navigate complex dilemmas with integrity.

The scope of accountancy is constantly growing, but so too are the levels of trust being placed in the profession by stakeholders. A global trust survey conducted by Edelman DXI for Chartered Accountants Worldwide reinforced the trust society places in the profession’s role in ethical leadership. It found that the accountancy profession ranks third globally for trust, just behind doctors and engineers, and in Scotland, it found that 87% per cent of senior business and finance decision-makers trust chartered accountants ‘to do the right thing’.

Building on this foundation, ICAS launched its Ethical Insights Series earlier this year, a collection of interviews and survey findings that explore what responsible decision-making looks like in practice. The series offers practical guidance for professionals navigating complex dilemmas, covering topics such as managing discomfort, distinguishing ethics from legality, and ethical leadership in the boardroom. Ethics is hugely important for ICAS, highlighted by our recent survey finding that 94% of members believe it is part of their role to call out behaviour that falls below ethical standards.  

Values-based leadership is a skillset that must be nurtured, challenged, and continuously developed. As we look ahead to the ICAS Annual Conference on 5 November, where ethical leadership will take centre stage, the profession must reflect, engage, and recommit to the values that define us.

The next generation is ready. Now it’s up to all of us – educators, employers, regulators, and professional bodies – to ensure they have the tools, support, and courage to lead with integrity.

About the author

Bruce Cartwright CA is CEO of ICAS