Moral Principles in Finance: Challenges and Risks in the Context of Contemporary Commerce

Iryna Khoroshylova, Oksana Nuzhna, Dmytro Sushko and Hanna Skyba

Management (Montevideo), 2025, vol. 3, 268

Abstract: Introduction: The study is based on an empirical study of the importance of ethics in accounting as an important element of ensuring the transparency of financial reporting and trust in economic systems. In the modern business environment, accounting professionals face a number of challenges and threats, including: conflict of interest, managerial pressure, the use of aggressive tax schemes, distortion of financial reporting, manipulation of financial data, challenges of digital transformation. Methods: This empirically based study summarizes scientific, theoretical, and practical approaches to defining the role of accounting ethics in the business environment. Results: The main standards of ethical responsibility according to the Code of Ethics for Professional Accountants (IESBA) and the key factors of ethical violations that cause global financial scandals are identified. The ethical principles of global accounting practice and the features of the application of international standards in the USA, Germany, Australia, Canada and Japan are considered. A comparative analysis of tax evasion in 2024 showed that economically developed regions have higher rates than underdeveloped ones. The importance of corporate culture and the transfer of innovations in the formation of accounting ethics is emphasized. Unethical practices undermine the image of companies and deter investment. Conclusions: Key areas for developing universal ethical standards for accountants in a global context have been identified. Adherence to ethics, use of control, audit, and innovation in a competitive environment are factors of successful business, strengthening trust, transparency, and integrity of financial information.

Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:dbk:manage:v:3:y:2025:i::p:268:id:1062486agma2025268

DOI: 10.62486/agma2025268

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