Challenging times lie ahead. My grandfather and his generation had a decent pension, and I am well aware that there won’t be much left for me when it’s my time to retire. We are living longer than ever before, and our natural resources (if they were ever ‘ours’) are scarce. It’s important that we learn from the mistakes of past generations and realise that resources are not endless, and that however old we become we are not invincible.
A Canadian friend recently posted on Facebook about the imminent closure of the Heinz factory in his local town ('the tomato capital of Canada') following a review of the company’s supply chain. The factory currently employs 740 staff as well as 500 seasonal workers, and reportedly buys around 45% of all tomatoes grown in Ontario. Needless to say, the news was not popular with the local community, and rumblings of ketchup boycotts were rife.
Countdown has begun to the next CIMA examination diet. How prepared are you in regard to the Code of Ethics and applying ethical thinking? Being familar with the Code and how you apply it is an integral part of both studying and practicing as a management accountant. Through the syllabus questions will arise on how you apply your understanding of the Code as well as your understanding of financial regulations and the law.
With the May exams looming, are you clear on how to apply an ethical framework to the questions posed? Ethical issues are threaded throughout all stages of CIMA exams (below) and you will need to be able to show you would analyse the situation appropriately and respond.
Being guided through the CIMA code of ethics is key and there are a number of resources available to help you think through how to do the right thing.
I recently was at an United Nations Global Compact meeting
with a focus on supply chain issues. Reflecting the growing importance of supply chain gobally the event was standing room only. One of the participants, involved in procurement for a high value global brand, sought to ascertain the credentials of the factories they were using in China Each of the 20 factories had been fully audited. The system showed that.
Will you be able to evidence integrity in your exams? Fact or Fiction is a new report compiling discussions from four markets in Europe, Asia and Africa outlining the skills needed to be a successful business partner. As finance partners more frequently with different functional units it is important to re-affirm independence and objectivity.
With P3 resit papers around the corner how comfortable are you with your ethical performance. Are you going for gold or are you likely to be in the dark side of the grey zone, feeling shame alongside those from recent corporate scandals for not acting in the public interest.
There are lots of resources to help you do the right thing in your exams, and the right thing professionally.
Tony has definitely upset the rotten-apple cart now. Is the Miralux ship sinking and are the ones leaving the ship really the ‘proverbial rats’?
Find out in the last episode of the series ...
This week’s news headlines are full of Olympics glory. It is a relief to have front pages celebrating the achievements of the world’s finest athletes, instead of unpicking the latest scandal arising from corporate misdemeanours.
If we really put the 50 top managers behaviour under the microscope what would we see? Cameron is sticking to his hard line approach, but who is willing to 'cast the first stone?'
Tony’s past the talking stage. It’s time for tough action. And Cameron seems determined as he gets caught up in a new investigation. So why is Talulah unhappy when she gets what she wants? Who is fiddling their expenses now?
In the latest episode, James has problems … enough to crack open the office Chardonnay and spill the beans to Cassie.
She’s more than happy to share the wine but is she going to help James out of a deep hole?
In the week we launched the CGMA ethics theme I attended a lecture at St Paul’s Cathedral given by the eminent professor of government at Harvard University, Michael Sandel on the moral limits of the market. The “congregation” was at full capacity at nearly 1800.
When Anil finally does rise to the challenge of doing what is right, he is not exactly met with open arms. He works all hours, is patronised and even gets called a “bean counter”... which does not help his social life.
So what exactly should Anil’s next move be? Watch this week's episode ...
Follow the trials and tribulations of Tony Scales and his team at Miralux in this new weekly e-drama. Bookmark this blog and catch up with episodes every two weeks.
In this episode, James Turner’s projects come in on budget and win environmental prizes. Surely that should keep the low-carbon campaigners smiling? However, it doesn’t help when James’ opponent happens to be his own sustainability manager, Tallulah. And he’s never sure whose side Cameron, the CFO is on either…
When was the last time you faced an ethical dilemma at work? And what did you do about it? As a CIMA member or student you are obliged to take action. To do so you should ensure you are familiar with the Code of Ethics, which helps guides you to do the right thing.
Follow the trials and tribulations of Tony Scales and his team at Miralux in this new weekly e-drama. Bookmark this blog and catch up with episodes each Monday.
Does Tony Scales, the new CEO of the Miralux Corporation, believe his own rhetoric s about ethics, the environment and the company’s hard line against corruption and fraud? Is he sincere or just the master of corporate rhetoric?
In our upcoming CGMA report on ethics, our members and students globally reported that human rights had risen in importance as an issue of priority for business. Reflecting this, March saw the launch of the Children’s Rights and Business Principles.