CPAs are a beacon of trust
Pamela Steer | CPA Canada
CPAs play an essential role as guardians of ethics, trust and accuracy in a world that is increasingly awash in misinformation
In this era of content overload, where misinformation is rampant, trust is becoming a rare commodity.
As Jeffrey Dvorkin, senior fellow at Massey College and former director of journalism at the University of Toronto told Pivot in a previous issue: “There’s a universal confusion and anxiety about what can be trusted and what can’t.”
In this dark age for trusted information, the need for reliable sources has never been greater. Our profession stands as a beacon of trust, ready to provide clarity, integrity and reliability to fill that void.
CPAs, with our rigorous training, ethical standards, and commitment to accuracy, have the opportunity to bolster public confidence in the information people rely on daily. According to a global survey conducted by Edelman DXI, 78 per cent of businesses view professional accountants as “essential in navigating challenges arising from economic uncertainty.”
This is particularly important in a time when economic volatility and disinformation make decision-making more difficult and riskier than ever before.
The Institute of Chartered Accountants in England and Wales highlights that accountants are not only seen as financial experts, but also as guardians of data integrity. According to their findings, 81 per cent of people see accountants as responsible for ensuring the accuracy of data, while 77 per cent believe accountants play a key role in helping businesses combat misinformation.
This speaks to the critical function CPAs fulfill in maintaining the reliability of information — especially financial data — that businesses, governments, and individuals depend on. But trust isn’t given; it’s earned. The public’s expectations for accountants are high, and rightly so. As the Institute of Chartered Accountants of Scotland points out, to meet these expectations, CPAs must be “equipped and knowledgeable” to address the challenges of today’s rapidly evolving information landscape.
We must continually refine our skills, stay ahead of technological advancements, and continue to uphold and reinforce the ethical standards that have long defined our profession.
That’s why CPA Canada is so proud to announce a new initiative as part of our next chapter. Our new monthly CPA Canada Connects thought leadership sessions aim to arm CPAs with the latest in trusted and timely information, so that you can provide your clients and organizations with reliable information to help them thrive in this uncertain landscape. Each of us must ensure ethics remain front and centre in our minds through our adherence to codes of conduct, standards and our professional development. That’s why we’re committed to ensuring that CPA Canada Connects includes a focus on ethics PD, such as February’s insights into the role of CPAs in safeguarding financial systems.
As CPA Canada evolves alongside the profession, becoming more customer-centric, our commitment to the profession’s rigorous code of conduct, ongoing PD and an unyielding dedication to acting in the public interest remain at the heart of our endeavours.
Indeed, this sense of purpose is infused into the day-to-day work of CPAs: audits ensure that information, financial or otherwise, is free of material error; financial reporting forms the backbone for organizations’ operations; forensic accounting uncovers money laundering and sanction evasion and our unsung heroes in taxation, ensure governments collect revenue to finance public spending.
Through our code of conduct and PD requirements as a strong the foundation, the public accountability inherent in being a professional accountant also puts CPAs in a unique position to combat the lack of trust prevalent in today’s culture.
CPAs are the trusted advisers of the business world today and we can help provide confidence in the information being presented. No one is perfect, but I believe nothing comes closer than CPAs in scrutinizing and verifying information, acting ethically in the public interest and keeping businesses, and the public, informed and assured.
I started this column talking about declining trust and I want to end it by saying that I believe our profession is one of the most important tools the world has at combatting this. Frankly, I am so very proud to be a part of the solution.
Stand on guard for thee
As a proud Canadian, I also see a direct parallel between the values of our profession and the values that define our nation. Canada has long been known for its commitment to fairness, transparency, and unity. These values are mirrored in the CPA profession, where integrity, accountability, and collaboration are essential to our success. Former Prime Minister Jean Chrétien recently emphasized the importance of unity in times of crisis, noting that “to fight back against a big, powerful bully, you need strength in numbers.”
This sentiment resonates deeply with CPA Canada’s calls for unity within the CPA profession. Just as Canada thrives when we stand together, the CPA profession is stronger and more effective when we work in concert — whether that’s here in Canada or on the global stage.
We dive into the most recent issues with our southern neighbour surrounding trade and tariffs, and how CPAs play an important role in the global financial ecosystem, in When your neighbour starts a trade war. Don’t miss it!