Trust: Making the Difference

Foundations & impacts of Chartered Accountants’ trusted roles in society

The Chartered Accountancy profession, spanning nearly two centuries, prioritises accuracy, integrity, and the public interest. In today’s tech-driven world, trust extends to non-financial data like sustainability. This publication spotlights how Chartered Accountants maintain trust among stakeholders. They uphold ethical standards, emphasise education, and adapt to evolving business and tech trends. Chartered Accountants are steadfast in serving the public interest and sustaining earned trust, as shown by the “Evaluating trust in the accountancy sector” survey, conducted in partnership with Edelman DXI.

Download Trust: Making the Difference

Download our research paper ‘Trust: Making the Difference‘ and discover how Chartered Accountants uphold unwavering trust amongst stakeholders.

Call for Chartered Accountants to step up and speak out.

The 4^th Wave (June 2023) of the “Evaluating trust in the accountancy sector” survey, conducted in partnership with Edelman DXI, reveals a significant increase in trust (85%) in Chartered Accountants amid ongoing economic uncertainty, making them trusted advisors alongside nurses. Business leaders are now urging accountants to extend their role beyond finance by guiding on resilience, ethics, data integrity, and navigating AI, technology, and ESG matters.

78% of businesses view Chartered Accountants as crucial in addressing economic challenges. To meet these growing expectations, Chartered Accountants need to engage in broader discussions about resilience and digital transformation. They are seen as data guardians (81%) responsible for data integrity and helping businesses combat misinformation (77%).

Professional bodies and governments’ collaboration can enhance their ability to tackle data-related issues. Additionally, Chartered Accountants are expected to be tech-savvy navigators (81%), necessitating universal training and resources for technology adoption.

Evaluating Trust in the Accountancy Sector for Chartered Accountants

Given the growing scrutiny of the accountancy profession, this study was conducted to assist CAW in understanding and monitoring public perceptions. Across four waves, the study has evolved:

• In CAW1 2018, it established a solid baseline and assessed the trust landscape.
• CAW2 2019 offered recommendations for enhancing trust in members and Chartered Accountancy Professional Bodies.
• CAW3 2021 delved into trust levels and the expectations of business leaders regarding Chartered Accountants and Professional Bodies in the context of COVID-19 and Brexit.

Now in its fourth iteration, the study concentrated on current topics relevant to the business world. These topics included economic uncertainty, the cost-of-living crisis, addressing misinformation, digitalization, automation, and the increasing importance of ESG (Environmental, Social, and Governance) considerations.

Download the Edelman Presentation