Searching for a Pathway to Priming Accountants for Ethical Compliance with International Financial Reporting Standards: The Core Value Paradigm
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The accounting profession has over the years prescribed solutions (via code of professional ethics) to often
complex ethical problems. This has left the profession in a state of continued crises of confidence as evidenced
by the celebrated fraud cases across jurisdictions. The problem is likely to be more pronounced following the
introduction of the principles-based International Financial Reporting Standards (IFRS). To be effective, ethical
reform initiatives should directly address the inner life and character of accountants through education of the
right type. The objective of this paper, therefore, is to bring into focus the relevance of Covenant University Core
Values in priming accountants for ethical compliance with International Financial Reporting Standards.
According to the empirical results of the study(based a cross-sectional sample of stakeholders from the Lagos
area of Nigeria) the CU core values paradigm is relevant and effective in priming ethical behaviour. The
paradigm offers the right approach as the acquisition of understanding of ethical issues turns away from a focus
on the external world of rules to the more holistic approach of internalizing a set of values which ensures that
accountants maintain consistent ethical behaviour. Thus, the paper recommends the Covenant University Core
Value dimension to learning and teaching as a pedagogical starting point in building ethical behaviour in
accountants for compliance with IFRS. However, there are a number of limitations of the study which include
small sample size. Further studies that would consider the limitations are recommended.
Keywords
HF5601 Accounting