Ethics, Sustainability, and Accounting: A Survey-Based Analysis Report

This report examines the critical roles of ethics and sustainability in business, drawing on a survey of Australian employees conducted in 2018. The analysis identifies key findings, such as the high percentage of employees valuing honesty in their organizations and the awareness of misconduct. It highlights significant differences between the public/third and private sectors, particularly concerning ethical practices and time pressure. The report discusses the APES 110 code of conduct, emphasizing its principles of integrity, objectivity, and confidentiality. It also explores how accounting as a profession can support improvements suggested by the survey, such as establishing standards for accounting practices to avoid ethical issues. The conclusion underscores the importance of ethics and sustainability, the influence of sector differences, and the necessity of adhering to codes of conduct for ethical business operations.

Ethics and Sustainability

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
1. Key finding from survey..........................................................................................................1
2. Significant difference between the sector ...............................................................................2
3. Code of Conduct .....................................................................................................................2
4. Analysing the way Accounting as a profession can support improvement suggested in
survey...........................................................................................................................................3
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................5

INTRODUCTION
Ethics refers to the set of rules and principles that a firm must follow while sustainability
in business means it has minimal or no impact upon the environment such that a business meet
the triple bottom line. The report main purpose is to determine the importance of ethics and
sustainability in business and thus, it identify the key findings from Survey of Employees
Australia 2018 with main difference between four subgroups. Further, the study explain the
difference between sector and determine a business Code of Conduct. Lastly, it explain how
Accounting supports improvement in the survey.
MAIN BODY
1. Key finding from survey
From the survey, 2268 employees were selected from Australia, New Zealand and UK
and four major key findings are found that the majority of employees are in favour that their own
organization act with honesty i.e. 84% of respondents are in favour. Another finding is only
25% of the respondents are aware with misconduct of work and even 44% of people are treated
unethically especially bullying/harassment and safety violation. Further, 65% of them state that
employee in UK are most likely reported for misconduct and one in 10 employees have felt
pressured (especially time pressure) to compromise with ethical standard. The survey also
highlights positive impact on employees of all comprehensive ethics program and 85% of
employees in organization work in ethical manner (Kilpatrick and et.al., 2018). Lastly, majority
of them state that line manager set a better example with an ethic program.
There are our subgroup in the survey of 2018, in which they all have different views
related to theme such that older employees (from age group and 55+) says that honesty is
practised than other age group while, women (from gender) state that organization act
responsibly in all the dealings as compared to men, Younger age group employees (age group
18-34) state that issues are discussed in staff meeting while employees in public or third sector
are more likely to private sector are agree that company lives to its stated policy only. Then the
private sector people feel pressurized within a company related to the time.
Therefore, it clearly shows there is a difference between the views of all the subgroups
but they all are completely agree that the organization run in an ethical manner. But they private
sector employees state that they feel pressure related to time in their working place.
1

2. Significant difference between the sector
There is a difference between the public and third sector and private sector such that
employees or the respondents who are working in the public sector are more likely as compared
to private sector such that they are agree that their organization are discussed the right and
wrongs in the team meeting but the private sector did not do the same (Steinemann, 2018).
Moreover, as an accounting profession, working in the public sector helps to sort out all the
relevant problems in better way and as a result, it creates positive perception among the
employers and they work with honesty. Further, this creates positive impact upon the profession
because solving problem in a team and discuss new decision in a meeting helps to collect more
information and concluded that employers are not bias and the business comply with ethics and
sustainability.
On the other side, as per the Survey, it has been observed that employees or respondents
of private sector are quite aware with the misconduct such that the are aware of safety violation
while only 27% of the public/ third sector know about misconduct done in business. Therefore,
accounting (as a profession) also affected with this. Such that If person working in public sector
did not know about the misconduct then they are affected with it and it creates negative impact
upon their profession and they are discriminated as well. In addition to this, from the survey it is
also observed that working environment is also different between the public and private sector
because around 41% of the employees working in the private sector felt pressured to compromise
ethics at work and majority of them state that time pressure is the major pressure which act
unethically (Shewan, Coats and Henein, 2018). It is so because in most of the business, managers
reward their employees if they get good results and as a result, they get pressurise.
On the other side, employees working in the Public sector did not feel so because there is
no targets and that is why, the employees also supports to complete the work by following all
ethical standards.
3. Code of Conduct
The Accounting Professional & Ethical Standards Board Limited issues APES 110 codes
of Ethics for Professional Accountants which describe fundamental principle for the accountant
within code such that integrity, objectivity , professional ability, confidentiality and professional
behaviour etc. Therefore, the principle Integrity is followed in Survey such that 2268 employees
are selected in order to collect honest results, as mention in ethical code that all the members of
2

Australia should comply with APES 110 while providing Professional Service in unearned
capacity.
On the other side, the survey also followed another principle such that confidentiality in
which all the personal information of respondents is kept confidential so that third party is not
misused the same (McKenna and Gray, 2018). Therefore, these code of ethics are the set of
principles of conduct that helps to take better decision and in the same way, for conducting the
survey, the accounting follows all the code of ethics so that it will help them to analyse the
reviews of different respondents which are chosen for the survey. So that it will help to generate
the best results as per requirement. On the other side, by establishing the ethical standard an
individual can eliminate the chances of errors and mistakes in their practices which could have
adverse effect on their professional growth as accountant. Moreover, these codes are not
intended to detract from roles and responsibility that is further imposed by the laws and
regulations. In the same way, in Survey of Employees 2018, these code of ethics are also
followed such that the conflict of interest and undue influence of are also override the
professional as well as business judgement as well. That is why, majority of the respondents
from the survey are in favour that they follow all the rules in ethical manner.
4. Analysing the way Accounting as a profession can support improvement suggested in survey
According to the findings in survey, there are thirteen percent of managers those who
have replied that it is completely acceptable top artificially increase profit in the books. The
suggestion given in the survey is that an organisation is required to established some standards
for accounting practices (Underhill and et.al., 2018). Establishment of standard will assist an
individual in determining the demand of their profession in context of their behaviour. It has
been found from the survey that an individual by considering the regulation or legislation
while preparing the accounts can avoid the chances of ethical issues that can have adverse
influence on their profession. As individual as an accountant is required to follow the
fundamental principles while preparing the accounts these are :
Integrity : An individual as accountant need to be honest towards their profession,.
Objectivity : A person should not influence other to override business judgement.
Professional competence:to maintain professional knowledge and skill at the level required to
ensure that a client or employer receives competent Professional Services based on current
developments in practice (West and Buckby, 2018).
3

Confidentiality : An individual should not disclose the financial information of company to
third party.
Professional behaviour : Accountant is required to comply with all regulation and they are
required to consider all standards while preparing accounts.
The sustainability as well as socially responsible outcome matters a lot in accounting.
Sustainability accounting practices is very much crucial as it generates high value proposition
for individual as accountant and also provides various benefit to organisation. Sustainability
accounting is a tool used by organisations to become more sustainable (Jenkins, Popova and
Sheldon, 2018). It also assist an individual in sustaining their position as a accountant in an
organisation. Sustainability accounting practices is very much important for avoiding ethical or
legal issues. Sustainability accounting matters a lot as it assists an individual in developing the
understanding about the reporting frameworks, standards and provide them with the guidelines
that could have significant influence on the content of their accounting report.
CONCLUSION
By summing up above it has been concluded that ethics and sustainability plays an
important role and from the survey it has been found out that majority of the respondents are in
favour that the business run with ethical manner and also there is a difference between the
sectors which also affect the profession as well. Further, it has been concluded that there are
specific APES 11 code of conduct which must be follow by the accountants in order to perform
the work without any bias. Lastly, report suggested the five principle of code of conduct, should
be followed in the survey so that the significant outcome are gained.
4

REFERENCES
Books and Journals
Jenkins, J. G., Popova, V. and Sheldon, M. D., 2018. In support of public or private interests?
An examination of sanctions imposed under the AICPA code of professional
Kilpatrick, M. and et.al., 2018. Barriers and facilitators to participation in workplace health
promotion (WHP) activities: results from a cross-sectional survey of public-sector
employees in Tasmania, Australia. Health Promotion Journal of Australia.28(3). pp.225-
232.
McKenna, L. and Gray, R., 2018. The importance of ethics in research
publications. Collegian.25(2). pp.147-148.
Shewan, L. G., Coats, A. J. S. and Henein, M., 2018, August. Authors’ Responsibilities and
Ethical Publishing. In International Cardiovascular Forum Journal (Vol. 13).
Steinemann, A., 2018. Prevalence and effects of multiple chemical sensitivities in
Australia. Preventive medicine reports.10. pp.191-194.
Underhill, E. and et.al., 2018. Migration intermediaries and codes of conduct: Temporary
migrant workers in Australian horticulture. Journal of Business Ethics.153(3). pp.675-689.
West, A. and Buckby, S., 2018. Ethics Education in the Qualification of Professional
Accountants: Insights from Australia and New Zealand. Journal of Business Ethics, pp.1-
20.
5