Decisions - Decisions

From time to time within our careers we are called upon to make difficult decisions – happily usually never life or death decisions highlighted in our view of a day in the life of erstwhile Roman Emperors – and in the case of my caption - the rather dark Emperor Commodus magnificently played by Joaquin Phoenix in the film Gladiator. Staying with the big screen - "Your a kite dancing in a Hurricane, Mr Bond" is not just a quote from the 007 film Spectre but a position which many CFOs/Accountants will inevitably feel at various stages throughout their careers. Where a situation arises that from experience/skilling and/or intuition feels potentially problematic - PAUSE - don't crack on and think about constructing a retrospective justification for doing something that crosses the line of professional standards and ethics - REFLECT - just take time to pause and if necessary seek counsel from others not directly involved. It is easy to be swept up in the moment and take comfort from the momentum that is probably going on around your decision. Human nature as it is does not really change over history - as sure as night follows day there will be instances in the future where CFOs/Accountants will be compromised into transgressing their own professional standards leading to failure that will have collective and personal consequences - there will be other Carillion's, Lehman Bros, RBS debacles - all of whom will have been serviced by the 'world's best auditors and accountants'. So before pushing the button into making a decision that could be the start of something irretrievable - take a breath, pause, reflect and if necessary consult others (including professional body support). Positive reputations are generally the product of dedication, hard work and respect over time – hard earned reputations can dissolve instantly. Our professional standards and ethics are enduring – they reflect the value that society places in our profession – that value is becoming more challenged due to high profile failures which have causal roots in transgressing the basics - not necessarily the highly technical challenges. Whilst the trust quotient that society places in the profession will ebb and flow over time we cannot individually or collectively become complacent. We need to be more adept at reinforcing what we are good at and less concerned about any perceived adverse consequences that may visit us through our adherence and dedication to our professional standards. Duty first – self second – is a sentiment that I am sure our Mr Bond would certainly approve of. Our intrinsic value to society is our capability to deliver on our standards and ethics – all positive things flow from that including personal ones - pride, peace of mind and contentment that make the ‘duty first’ approach the most rewarding and enriching career experience.