The Chartered Institute of Management Accountants (CIMA) has launched a so called "ethical scenario tool" aimed at helping professionals to comply with ethical standards more effectively.
The tool, which is an interactive software similar to a questionnaire, is designed to "encourage better working cultures that lend themselves to the ethical standards that most firms subscribe to," according CIMA head of ethics Tanya Barman.
The tool deals with issues as diverse as conflict of interest, the supply chain, bribery and data protection, CIMA said.
Barman said that ethical challenges are a daily occurrence in organisations, and that failure to appropriately deal with them could lead to "severe consequences" for "both the individuals and the companies they work for".
A recent CIMA poll indicated that almost 25% of global respondents worked for companies that had suffered severe reputational failure in the past.
The poll revealed also that globally one in three financial professionals had been encouraged to act unethically.
Article by Sebastian Clark
Related linkCIMA: ethical scenario tool