On October 16th, — for World Ethics Day, — the Federation of Professional Accountants and Auditors of Ukraine (FPAAU) hosted a forum themed titled “Time to Enhance Professional Ethics”. Representatives from BDO in Ukraine participated as speakers, sharing their insights and experience.
At the forum, leaders, accountants, auditors, representatives of government bodies, educational institutions, and partners from various sectors gathered to discuss key matters related to professional ethics in accounting and auditing.
Participants shared their experiences, discussed new challenges facing the profession, and highlighted the importance of adhering to ethical standards in daily practice. The focus was on the latest updates to the International Code of Ethics for Professional Accountants and their potential impact on professionals in the sector. Moreover, participants emphasized the necessity of incorporating ethical principles into educational programs, helping future accountants and auditors develop the right professional values from the beginning of their careers. This discussion marked a significant step towards fostering a more responsible environment for accounting and auditing in Ukraine.
This discussion marked a crucial step in fostering a more responsible environment for accounting and auditing in Ukraine.
Key topics discussed at the forum included ethical issues that significantly impact the development of the accounting and auditing profession.
Tetiana Okseniuk presented on “Ethical Challenges and Opportunities of Using Artificial Intelligence in the Professional Environment”, focusing on the impact of technology on accounting and auditing practices. She highlighted that artificial intelligence (AI) is becoming an increasingly common tool in financial services, opening up new opportunities for process automation, enhancing efficiency, and reducing the risks of human errors.
In her speech, Tetiana Okseniuk highlighted the main ethical challenges of using artificial intelligence, focusing on transparency and confidentiality issues. She pointed out the risks of generative AI models like ChatGPT due to the potential for inaccurate information and emphasized the importance of thorough result verification. Tetiana also shared practical cases of implementing ChatGPT and Copilot for Finance, which help automate financial analysis and reporting. She concluded by recommending that businesses adopt ethical standards for the safe use of AI.
“Participating in the Forum was an extremely valuable experience for me. I was impressed by the participants’ engagement and their commitment to professional development. The discussions on the importance of ethics in accounting and auditing practices opened new perspectives and deepened the understanding of how ethical principles can influence the success of our profession.” — noted Tetiana Okseniuk.
Tetiana’s presentation made a significant contribution to the discussion of current ethical issues in the context of rapid technological development, particularly artificial intelligence, and its impact on accounting and auditing practices.
Anastassia Skok spoke on “Avoiding Greenwashing: How to Maintain Environmental Values in a Company”, where she thoroughly covered the issue of greenwashing — the practice of companies trying to look environmentally responsible without taking real actions. She provided examples of corporate environmental responsibility and stressed the importance of meeting EU requirements now. She focused on the development and implementation of the best available technologies in production, finding solutions to minimize environmental impact at all stages of the company’s activities, including supply chains. Anastassia also highlighted the need to calculate the company’s carbon footprint according to the GHG Protocol, which is a crucial tool for environmental responsibility.
At the Forum, participants were given guidance on selecting a standard for annual non-financial ESG reporting, including GRI (Global Reporting Initiative), ISO, or Net-Zero. Anastassia concluded her presentation by highlighting the importance of performing environmental and energy audits of companies to evaluate their environmental impact and explore ways to mitigate it.
Key message of the presentation: To prevent a company’s environmental and social initiatives from turning into greenwashing, it is essential to move away from isolated “one-off” projects. It is necessary to rethink all internal processes and implement the best available technologies to minimize the impact of activities on the environment and society.
Anastassia Skok highly appreciated the level of the Forum management and the content of the discussions, emphasizing that such events are crucial for deepening knowledge and exchanging experiences among professionals. She noted:
“The Forum was an excellent platform for discussing current ethical challenges, particularly in the realm of environmental responsibility. It allows for a deeper understanding of how modern companies can effectively integrate environmental and social initiatives into their activities based on fundamental ethical principles of integrity and responsibility, without resorting to greenwashing.”
The Forum “Time to Enhance Professional Ethics” became an important platform for discussing current ethical issues in the professional activities of accountants and auditors. Speakers, including representatives from BDO in Ukraine, shared practical cases and experiences of implementing innovative technologies and ethical standards in their work.
If you aim to enhance your qualifications while adhering to high ethical standards, or need consultations on sustainable development, environmental responsibility, and the implementation of ESG initiatives, — contact BDO in Ukraine. Our team is ready to provide you with professional support and help integrate the best solutions for your business.
Participants shared their experiences, discussed new challenges facing the profession, and highlighted the importance of adhering to ethical standards in daily practice. The focus was on the latest updates to the International Code of Ethics for Professional Accountants and their potential impact on professionals in the sector. Moreover, participants emphasized the necessity of incorporating ethical principles into educational programs, helping future accountants and auditors develop the right professional values from the beginning of their careers. This discussion marked a significant step towards fostering a more responsible environment for accounting and auditing in Ukraine.
This discussion marked a crucial step in fostering a more responsible environment for accounting and auditing in Ukraine.
Key topics discussed at the forum included ethical issues that significantly impact the development of the accounting and auditing profession.
- Presentation of the updated online course “Ethics for Professional Accountant”, aimed at equipping participants with current knowledge and skills to uphold ethical standards in their practice.
- Emphasis on the importance of studying the Code of Ethics early in one’s career, to help young professionals establish a solid foundation for their professional growth.
- Review of the latest updated to the International Code of Ethics, ensuring participants are aware of new requirements and recommendations.
- Recommendations from the International Ethics Standards Board, offering useful tools for implementing ethical principles in practical activities.
- Discussions on the role of ethical principles in practical activities, highlighting the importance of ethics in building trust and professionalism in accounting and auditing sectors.
Representing BDO in Ukraine, Anastassia Skok, ESG Manager, and Tetiana Okseniuk, Analyst, were among the speakers.
Tetiana Okseniuk presented on “Ethical Challenges and Opportunities of Using Artificial Intelligence in the Professional Environment”, focusing on the impact of technology on accounting and auditing practices. She highlighted that artificial intelligence (AI) is becoming an increasingly common tool in financial services, opening up new opportunities for process automation, enhancing efficiency, and reducing the risks of human errors. In her speech, Tetiana Okseniuk highlighted the main ethical challenges of using artificial intelligence, focusing on transparency and confidentiality issues. She pointed out the risks of generative AI models like ChatGPT due to the potential for inaccurate information and emphasized the importance of thorough result verification. Tetiana also shared practical cases of implementing ChatGPT and Copilot for Finance, which help automate financial analysis and reporting. She concluded by recommending that businesses adopt ethical standards for the safe use of AI.
“Participating in the Forum was an extremely valuable experience for me. I was impressed by the participants’ engagement and their commitment to professional development. The discussions on the importance of ethics in accounting and auditing practices opened new perspectives and deepened the understanding of how ethical principles can influence the success of our profession.” — noted Tetiana Okseniuk.
Tetiana’s presentation made a significant contribution to the discussion of current ethical issues in the context of rapid technological development, particularly artificial intelligence, and its impact on accounting and auditing practices.
Anastassia Skok spoke on “Avoiding Greenwashing: How to Maintain Environmental Values in a Company”, where she thoroughly covered the issue of greenwashing — the practice of companies trying to look environmentally responsible without taking real actions. She provided examples of corporate environmental responsibility and stressed the importance of meeting EU requirements now. She focused on the development and implementation of the best available technologies in production, finding solutions to minimize environmental impact at all stages of the company’s activities, including supply chains. Anastassia also highlighted the need to calculate the company’s carbon footprint according to the GHG Protocol, which is a crucial tool for environmental responsibility.
At the Forum, participants were given guidance on selecting a standard for annual non-financial ESG reporting, including GRI (Global Reporting Initiative), ISO, or Net-Zero. Anastassia concluded her presentation by highlighting the importance of performing environmental and energy audits of companies to evaluate their environmental impact and explore ways to mitigate it.
Key message of the presentation: To prevent a company’s environmental and social initiatives from turning into greenwashing, it is essential to move away from isolated “one-off” projects. It is necessary to rethink all internal processes and implement the best available technologies to minimize the impact of activities on the environment and society.
Anastassia Skok highly appreciated the level of the Forum management and the content of the discussions, emphasizing that such events are crucial for deepening knowledge and exchanging experiences among professionals. She noted:
“The Forum was an excellent platform for discussing current ethical challenges, particularly in the realm of environmental responsibility. It allows for a deeper understanding of how modern companies can effectively integrate environmental and social initiatives into their activities based on fundamental ethical principles of integrity and responsibility, without resorting to greenwashing.”
The Forum “Time to Enhance Professional Ethics” became an important platform for discussing current ethical issues in the professional activities of accountants and auditors. Speakers, including representatives from BDO in Ukraine, shared practical cases and experiences of implementing innovative technologies and ethical standards in their work.
If you aim to enhance your qualifications while adhering to high ethical standards, or need consultations on sustainable development, environmental responsibility, and the implementation of ESG initiatives, — contact BDO in Ukraine. Our team is ready to provide you with professional support and help integrate the best solutions for your business.
