The institute has published a report on the leading part that finance professionals should play in incorporating ethics into their organisations' strategic decision-making.
"Incorporating ethics into strategy: developing sustainable business models" argues that an ethical tone needs to come from the top, with finance professionals ensuring that their organisations are founded on sustainable business models.
Despite witnessing huge corporate failures in the past decade as a result of unsustainable and unethical business practices, organisations can still be tempted to make short-term gains by turning a blind eye to ethics, the report points out. Codes of practice, regulatory oversight and growing public pressure have not prevented some companies from routinely ignoring the ethical considerations.
This can undermine the wider economy as well as the long-term viability of individual firms. The report argues that the ethical element in CIMA's qualification and the ongoing requirement for members to commit to high standards of behaviour mean that they are ideally placed to...