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Ethics cited in global accountancy report
When it comes to hiring and attracting accounting professionals, businesses need to have clear ethical and moral compasses.
Accounting professionals want to work for an ethical business.
While there is no official skill shortage of accountants, many businesses are waiting a long time to fill open positions. According to the Department of Employment, around 25 per cent of all surveyed accounting vacancies remain open after six weeks.
As such, it is important for businesses to analyse the key issues that are facing accountants today. If Australian organisations address these problems, there is no doubt that they will have a better chance of accessing the accounting talent they need.
This overarching topic was recently discussed in London, where the heads of Chartered Accountants met with other senior officials from the world of accounting. Their thoughts, complied in the Critical Success Factors for Tomorrow's Business Leaders report, detailed how corporate leaders can make their firms attractive to candidates and handle issues moving forward.
According to the report, the officials talked through a number of issues, including the need to simplify tax systems and geopolitical tensions. However, the concept of ethical business stood head and shoulders above the rest.
The report revealed that millennials want to work with brands they trust. In fact, this is the same for candidates choosing where to apply for employment.
Chairman of Chartered Accountants Worldwide Pat Costello explained ethics is the heart and soul of any organisation. As such, this presents a unique challenge in today's digital age.
"The right decisions need to be taken in real time - it's no longer enough to rely on the traditional hierarchies," he said.
"This means we need to foster a culture where people are trained to know what the right thing to do is when a challenge presents itself. A culture of ethics certainly starts in the boardroom, but it can't stop there."
If businesses are looking for assistance in their accounting recruitment, our expert team of consultants remain in the loop of industry changes and demands.
Ethos Corporation is an Australian-owned Executive Recruitment Consultancy specialising in the $120k - $400k candidate market.
By Andrew McPherson