Global and regional leaders in the accounting profession have called for enhanced ethical oversight, responsible use of artificial intelligence (AI), and robust sustainability reporting to build trust and promote long-term value creation in financial governance. This plea was articulated during the inaugural session of the SAFA International Conference on the convergence of ethical AI and sustainability reporting, organized by the Institute of Chartered Accountants of Bangladesh (ICAB) at Le Méridien Dhaka yesterday.
At the conference, Foreign Affairs Adviser Md Touhid Hossain highlighted the alarming trend of financial misconduct in Bangladesh, stating that a significant amount of money had been siphoned out of the country over the past 15 years, often facilitated by the misuse of professional accounting expertise. He asserted that financial records had been deliberately distorted to obscure irregularities and mislead stakeholders, emphasizing that “these were not simple mistakes or technical lapses.” Hossain stressed that restoring trust in the financial system necessitates stronger accountability and vigilance, particularly from accountants and financial professionals.
Jean Bouquot, president of the International Federation of Accountants (IFAC), underscored the profession’s crucial role in advancing ethical leadership, sustainability, and digital transformation. He noted that sustainability-related risks are reshaping corporate reporting, advocating for wider adoption of the International Sustainability Standards Board (ISSB) standards. On the topic of AI, Bouquot called for continuous digital upskilling, reiterating that ethics remains the foundation of public trust.
Md Sajjad Hossain Bhuiyan, chairman of the Financial Reporting Council (FRC), remarked that AI and sustainability are becoming central to financial reporting. He stated, “The FRC sees itself not only as a regulator but also as a partner in professional development and financial system credibility,” adding that collaboration between the FRC and ICAB will further enhance Bangladesh’s financial reporting ecosystem.
ICAB President NKA Mobin emphasized that the future of the accounting profession hinges not just on technical innovation but also on upholding values, ethical leadership, and public trust. He reaffirmed ICAB’s commitment to capacity building, asserting that accountants must lead the transformation with integrity in an increasingly digital environment. “We must prepare future accountants to navigate a digital world with strategic vision, competence, and integrity,” he said.
Former ICAB president Adeeb Hossain Khan pointed out that the convergence of ethical AI and sustainability reporting is redefining the core responsibilities of the profession. He remarked, “Technology is no longer a support function, and sustainability is no longer a remote disclosure; they are now central to value creation.” Looking towards 2025, Khan described the year as one of “contradictions and confusion,” noting heavy investments in AI alongside limited returns and a scaling back of ESG (environmental, social, and governance) initiatives in certain regions.
Khan also cautioned against the tensions between AI’s energy demands and sustainability goals, warning of potential risks tied to bias and reduced transparency. “AI may be powerful, but it lacks accountability and ethics. That responsibility must remain human,” he stated, emphasizing that future accountants must exercise judgment to ensure technology bolsters trust and supports long-term value creation.
The discussions at the SAFA International Conference reflect a critical shift in the accounting landscape, one where ethical AI and sustainability are not merely supplementary components but fundamental to the integrity and reliability of the financial system. As the profession navigates these challenges, the emphasis on accountability and ethical leadership will be essential to fostering a resilient and trustworthy financial environment.
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