Exploring the view of financial professionals on ethical and corporate governance: A qualitative study within the accounting department of a financial shared services centre

Abstract

This report aims to provide an accurate an up-to date vision of business ethics and corporate governance performance in the context of business organisations. Furthermore the aim of the report goes beyond the theoretical level, trying to unveil the practical side of ethics and corporate governance practices within a specific live organisation. Accordingly this piece of research explores the perceptions of financial professionals on ethical and corporate governance performance within the Accounting Department of Company A. Two instruments are used to this purpose: interviews and questionnaire. The analysis of the data collected will disclose some strengths in the views of the staff about the ethical performance of company A such as high commitment of both employees and company to the duty of business ethics and to report financial information with integrity. Alternatively weak areas in need of improvement would be an employees' low level of familiarity and comfort with whistleblowing tools available within Company A, the little applicability of company code of ethics in practice and the lack of an appropriate performance measurement system to assess ethical and corporate governance performance and to communicate it to stakeholders. Ultimately a list of recommendations is included in chapter 6, based on the conclusions raised in the report. It includes among others: the use of value-based codes, a formal introduction of the code to employees, additional formal ethics training, periodic updates to employees on whistleblowing policies and procedures, the use of external channels to report misconduct or the development of a combined performance measurement system that integrates not only financial and business indicators but measures to assess ethical and corporate governance performance.