Wednesday, October 28, 2015
APMAA Conference 2015 - Day 3
The conference so far has been amazing - great paper discussions, interesting plenary sessions, delicious foods, great hosts and friendly participants. APMAA Conference 2015 continues with more parallel sessions on day 3. The theme of this year's conference is indeed apt and timely. Management accounting is not just used to feed management with relevant information for optimal decision making and control, more importantly, management accountants must rise to the current need for sustainable development. In CIMA’s recent report Acting Under Pressure, findings affirmed that a transparent operating culture, support from management and compliance with both local and international regulations and norms, are necessary for effective business reputation. With the potential for unethical business practice, the reputational and operations costs of “being caught out” can be high around how ethics are played out and supported within organisations. Growing research around the topic shows that ethical practice makes a difference in supporting long term success of companies, particularly in relation to risk. From a public perception view point, politically and socially, it is seen as increasingly important, as events playing out globally in the last few years have shown backed by the rise of influence on wider society via social media and web channels.