ICAEW is one of more than 500 signatories of a call to action to mark the 20th anniversary of the United Nations Convention against Corruption (UNCAC), appealing to governments across the world to intensify anti-corruption efforts and focus on good governance. This would promote “a new social contract based on the principles of integrity, transparency and accountability”, according to the letter. 

The call to action lists six acts it would like to see governments take, including adopting UNCAC tenets to create a level playing field for tackling corruption, with stronger policies, incentives and legal frameworks. 

Elsewhere, it calls for the increased use of corporate sustainability standards in government decision-making, particularly for investments and public procurement. “In public-private interactions, strive for greater transparency, including in the management of conflicts of interest and through the prevention of undue influence,” the letter says.

It encourages governments to use public-private partnerships and stakeholder engagement to create more solutions to benefit people and the planet. Technology such as AI could be used to manage corruption risks more effectively and increase transparency. 

Finally, the signatories push governments to promote ethical leadership principles in education, building a generation of ethical future leaders. 

The call to action presents an important opportunity to demonstrate ICAEW’s collective commitment to ethical leadership, business integrity and the fight against corruption, says Laura Hough, ICAEW’s Director, Trust and Ethics. “Only by working in cooperation and partnership across all sectors and professions will we be able to turn the tide against corruption.”

Around the world, corruption embodies one of the most significant barriers to economic and social development and has a costly impact on many areas of the global economy, Hough explains. “As a participant to the UN Global Compact, ICAEW supports the 10 principles of the UN Global Compact. The 10th principle is that ‘businesses should work against corruption in all its forms, including extortion and bribery’. We recognise that Chartered Accountants have an important role to play in the fight against corruption.”

ICAEW attended the Private Sector Forum organised in the margins of the Conference of the States Parties to UNCAC, marking 20 years since UNCAC was adopted. Importantly, this forum recognised that business integrity is at the forefront of the private sector’s agenda, as well as the importance of multisectoral cooperation.