n Professional Accountant - Accounting quo vadis? Ethics, the heart of economic freedom : a view from outside

Abstract

Over the past decade the world has stumbled from one financial crisis to another. In recent times, greed and irresponsibility have resulted in the worst financial crisis since the Great Depression. Hundreds of millions of people, in all parts of the world, have seen their hard earned savings and possessions literally evaporate as one financial institution after another failed. Faith in governments, regulatory institutions and professional bodies has sunk to an all-time low. Previous bastions of security lie shattered. This begs the question why we are in this predicament.