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Accounting profession spearheads attack on corruption
THE Institute of Public Accountants (IPA) as part of the global accounting profession is supporting the United Nation’s International Anti-Corruption activities which included a special awareness day on December 9.
The World Economic Forum estimates that every year the cost of corruption is at least US$2.6 trillion -- or 5 percent of global domestic product. According to the World Bank, businesses and individuals pay more than US$1 trillion in bribes each year.
“Corruption not only erodes trust, it has a direct detrimental impact on economic growth,” said IPA chief executive officer, Andrew Conway.
“Accountants play a pivotal role in this united fight against corruption.
“As a profession, we hold the responsibility to promote greater transparency and accountability, employ stronger ethics and lift the standard of integrity,” said Mr Conway.
About the Institute of Public Accountants
The IPA, formed in 1923, is one of Australia’s three legally recognised professional accounting bodies. In late 2014, the IPA acquired the Institute of Financial Accountants in the UK and formed the IPA Group, with more than 36,000 members and students in over 80 countries. The IPA Group is the largest SME focused accountancy organisation in the world. The IPA is a member of the International Federation of Accountants, the Accounting Professional and Ethical Standards Board and the Confederation of Asian and Pacific Accountants.
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