What are the pillars of ethical conduct? In short any professional sector should showcase ethics of integrity, objectivity and independence.
In an article posted by https://www.bizcommunity.com on the 10th of November 2020, it is suggested that South Africa is in a crisis of ethics.
“As things stand, and if the revelations and allegations at the State of Capture Commission headed by the deputy Chief Justice Raymond Zondo are anything to go by – it is fairly easy to accept that we indeed are in a crisis. Add to this, the alleged corruption from the procurement of Personal Protection Equipment (PPE) by government with a number of companies taking advantage of the relaxed treasury regulations due to the Covid-19 pandemic.”
Extracted from https://www.bizcommunity.com/Article/196/546/210248.html
According to the article South Africa has over the years been rocked by a slew of accounting scandals. A spotlight has been placed on auditing firms indicating that there is corruption in financial reporting and justifying the use of funds in organisations. It is stated that the Independent Regulatory Board for Auditors (IRBA) has to do more to restore a system of moral principles that draws the boundary between wrong and right. Corporations and governments should integrate ethics into normal risk management structures and processes, and make ethical standards part of normal monitoring processes.