Accountants are responsible not just to employers/clients, but also to
investors, regulators, and society.
Protect the wider public from fraud, corruption, or misleading reporting.
•Influence management to adopt fair and transparent policies.
•Provide training and advice on compliance and ethical decision-making
•Detect risks of fraud through auditing, internal controls, and risk
assessments.
•Discourage corruption by refusing bribes or illegal incentives.
•Example: Identifying false expense claims during an audit.
•.
•Provide accurate information for decision-making at board level.
•Ensure compliance with laws, regulations, and best practices
•Stay updated on evolving standards, laws, and ethical expectations.
•Apply new knowledge to maintain relevance and competence.
•Example: Training on sustainability reporting and ESG disclosures.
•Help organisations choose ethical alternatives even when faced with
profit pressures.
•Encourage balancing short-term gains with long-term reputation.
•Example: Advising against aggressive tax evasion strategies that
could damage reputation
Level
Reporting Channel
Examples
Internal Reporting
Immediate supervisor, HR,
compliance officer, or ethics
committee.
Reporting a colleague’s misconduct
within the firm.
Audit committee or managing
Senior Management/Board director (if issue involves senior
staff).
Escalating fraud involving middle
management.
External Reporting
Regulatory authorities (e.g., SEBI,
RBI, tax authorities), police, or
professional body (ACCA, ICAI).
Reporting large-scale corporate
fraud or law violations.
Whistleblowing
Mechanism
Anonymous hotline or online
reporting tool.
Employees can safely report without
fear of retaliation.