Hassan Khan
As the world marked Global Ethics Day, two of the most respected financial bodies ACCA (Association of Chartered Certified Accountants) and CISI (Chartered Institute for Securities & Investment) joined forces to send a powerful message: AI is reshaping the financial world, and ethics must evolve with it.
Their new joint report, “AI Monitor: Shining a Light on AI’s Ethical Threats for Finance Professionals,” issues a clear warning if the profession fails to strengthen governance, improve AI literacy, and align ethical standards, it risks losing the very trust it’s built upon.
AI’s Promise Comes with a Price
AI has already transformed how finance operates from credit scoring to fraud detection but this convenience comes with moral questions that can’t be ignored.
The report highlights four key insights:
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AI is now part of everyday life, bringing unavoidable ethical decisions.
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Finance professionals face unique risks, from data bias to system errors.
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AI literacy is vital, combining technical understanding with ethical judgment.
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Global collaboration is essential to manage risks and set shared standards.
In simple terms: it’s no longer enough to just understand how AI works professionals must also understand what’s right when using it.
Read More: Ethics for a better world: our daily talks from around the globe
Ethics as the Core of the Profession
Helen Brand OBE, Chief Executive of ACCA, didn’t mince words. “Ethical threats from AI are immediate,” she said. “But our foundational principles integrity, objectivity, competence, confidentiality, and professional behaviour remain our compass.”
Her point was clear: technology may change, but values should not. She urged organizations to invest in governance and upskilling, ensuring finance professionals are ready to handle new ethical dilemmas with confidence and care.
Technology and Trust Must Work Together
Echoing her view, Tracy Vegro OBE, CEO of CISI, reminded professionals that “technology and trust must go hand in hand.” She pointed to the joint CISI–ACCA Certificate in Ethical AI a training initiative that helps finance experts make ethical decisions while working with advanced technologies.
Vegro stressed that accountability and transparency are the cornerstones of lasting public confidence, especially as AI’s influence expands into every corner of the financial world.
A Shared Global Responsibility
Drawing insights from global roundtables across Asia Pacific, Africa, South Asia, and the UK, the report emphasizes that the path forward lies in shared responsibility. Ethical success, it says, depends on cooperation between individuals, organizations, and governments.
As AI continues to evolve, so must the frameworks that guide it. The report’s message resonates beyond finance: ethics must grow as fast as technology does.
On this Global Ethics Day, ACCA and CISI’s call serves as a reminder that progress without principles is a risk the world cannot afford.
