Urgent action needed on AI’s ethical challenges: ACCA

KARACHI: On Global Ethics Day, ACCA (the Association of Chartered Certified Accountants) and CISI (the Chartered Institute for Securities & Investment) have issued a global call for urgent action to address the ethical challenges posed by artificial intelligence (AI). Their new report, AI Monitor: Shining a Light on AI’s Ethical Threats for Finance Professionals, warns that without stronger governance, improved skills, and policy alignment, the profession risks undermining the public trust on which it depends.
The report highlights four key findings: AI is now deeply embedded in professional and personal life, making ethical issues unavoidable; it presents distinct risks for finance professionals; AI literacy is vital to combine technical understanding with ethical judgment; and collective alignment across individuals, organizations, and policymakers is essential.
It urges professionals to strengthen awareness of AI-related ethical dilemmas using practical checklists, while organizations should build robust governance frameworks and ethical cultures. Policymakers are called to coordinate with professional bodies to harmonize regulations and manage systemic risks.
ACCA Chief Executive Officer Helen Brand OBE stressed that: ‘Ethical threats from AI are immediate, but the profession’s foundational principles—integrity, objectivity, competence, confidentiality, and professional behaviour—remain the compass for navigating them’. She urged collective investment in governance and up-skilling, to preserve public trust.
CISI Chief Executive Officer Tracy Vegro OBE emphasized that: ‘Technology and trust must go hand in hand’. She highlighted the joint CISI–ACCA Certificate in Ethical AI, as a key initiative promoting accountability and professionalism.
Drawing insights from global roundtables across Asia Pacific, Africa, the UK, and South Asia, the report underscores that; ethical success in AI depends on shared responsibility, continual learning, and aligned frameworks worldwide.
Copyright Business Recorder, 2025