Interview — Ethics and the financial sector

  • In this month’s interview we ask three experts for their views on what’s behind some of Governance Institute’s Ethics Index 2019

Accountants are considered the most ethical financial professionals while the banking, finance and insurance sector are considered the least. Moves to clean up their act appears to be improving the banking, finance and insurance sector’s image, according to figures released in the latest for Governance Institute’s Ethics Index 2019.

The sector’s net score rose from -27 last year to -18 this year, but it still had the lowest ethical rating (31 per cent) and the highest unethical rating (49 per cent) out of all sectors of the economy, indicating very low trust and perceived behavioural standards.

Catherine Maxwell, general manager policy and advocacy for Governance Institute of Australia, believes the publicity around some of the remediation programs being conducted by financial services groups, especially the big four banks, may have helped improve their ratings.

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