Accountants play ‘vital role’ in reducing corruption, study suggests

Research published by the International Federation of Accountants (IFAC) has suggested that accountants play an important role in helping to reduce corruption levels.

The IFAC’s study, which was conducted by the Centre for Economics and Business Research (CEBR), revealed that the higher the number of accountants in a workforce, the lower the overall level of corruption.

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Accountants also have a greater impact in nations with stronger governance structures, the study highlighted.

However, the IFAC also recognised business leaders, the government and the financial sector as being key to combating corruption, alongside the accountancy profession.

Fayez Choudhury, Chief Executive Officer of the IFAC, commented: ‘The study confirms that the accountancy profession is a crucial part of strong national governance architectures that confront corruption, in partnership with good government and strong businesses.

‘And vitally, the study shows professional ethics, education and oversight – at the core of the global accountancy profession – are key to our positive impact in tackling corruption.’

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