LOCAL management accountants met at the Arden Hotel in Bickenhill last week looking to secure themselves against fraud and ensure ethical business practice.
The move came after it was revealed that although four out of five businesses worldwide have committed to ethical performance, the pressure to act unethically has increased, according to a new report.
Managing Responsible Business, a global survey of almost 2,000 Chartered Global Management Accountants (CGMA), found that 35 per cent said they sometimes or always feel pressured to compromise their organisation’s standards of ethical conduct and 91 per cent of respondents identified the top ethical issue as security of information.
According to David Blackmore of DB Risk & Compliance Services, information security along with ‘insider dealings’ and Bribery Act offences are the current hot-spots in financial crime that cost the UK £73bn in 2011 alone.
David Blackmore, speaker at the CIMA event, said: “There is a huge range of potential financial crimes that local businesses need to protect themselves against. Simple things like data or information can be very valuable to the wrong people.”