THE RELEVANCE OF THE FUNDAMENTAL ETHICS PRINCIPLES FOR PROFESSIONAL ACCOUNTANTS IN THE DIGITAL AGE

Abstract

Ethical behavior is a key factor for accountants to win the trust of their stakeholders in the digital age. Many ethical dilemmas are now under consideration and profession is more than concerned about the enhanced risks of ethical compromises. This paper is aiming to discuss the relevance of the fundamental ethics principles for professional accountants in a technology-led digital age. These five principles are: integrity, objectivity, professional competence and due care, confidentiality and professional behavior. Artificial intelligence and big data analytics that are currently changing work environment of the accounting profession are analyzed in this context. Cybersecurity, platform based business models and distributed ledger technology are also considered as ethical challenges in the light of exponentially growing digitalization of economy.