Chartered accountant professionals: Happiness and Greed

Abstract

South Africa has grappled with corruption cases and many of these are rooted in greed. Amongst the findings of the Zondo Commission is that professional service providers such as auditors and Chartered Accountants (CAs) assisted in making state capture possible. There have been many allegations of CAs defrauding millions from the people they were supposed to serve. Why would CAs as professionals be alleged to be involved in state capture and corruption? CAs profess to live and conduct themselves in accordance with ethical codes. Many people believe, and per the Zondo Commission findings, that some CAs in South Africa have breached their professionalism and codes of conduct and have fallen into greedily chasing wealth. These CAs seem to have defined their happiness based on money or possessions and if happiness is defined in this reductive materialistic way, it can easily lead to greed. To explore the problem of greed, ethics and happiness, this study turned to philosophy for possible answers. Philosophy teaches not only the ability to think and debate about life matters, but how to live. On the other hand, professions, such as the CA profession, also hope to develop professionals that are not only technocrats but are transformed in their conduct as should be shown through how they ethically deal with their clients. The study sought to understand happiness and greed and the possible ethical implications with regard to professionals, specifically CAs. The study investigated the meaning of professions, evaluated the ethical requirements and the meaning of happiness in the context of CAs as professionals. To address the concerns regarding greed and its possible influence on the unethical behaviour of CAs, key recommendations are made. The study argues for, firstly, clarifying the meaning of public interest and professional behaviour in the SAICA Code; secondly, for reforming the teaching of ethics from the current theoretical non-practical ways to assist students to engage with ethics by teaching them virtue ethics; thirdly, for introducing character education within the CA profession; and fourthly, for introducing a focus on the meaning of professions which include teaching about social contract. Finally, the CA profession needs to focus on teaching CAs about the philosophy of happiness to help them to be more critical about greed.