The ACCA have announced that prospective ACCA's will be required to sit a new ethics exam.
The subject will be examined for the first time in December 2007.
The ethics module will comprise an exam on ethics, tailored practical experience and an online module presenting students with real-life ethical dilemmas.
Clare Minchington, managing director of education, training and development at ACCA, is quoted by Accountancy Age as saying:
"After the accounting scandals of recent years, it's vital for the accountants and financial professionals of tomorrow to be equipped to operate in an industry subject to such close scrutiny.
Our new qualification prepares the way for the professional accountant and I am especially delighted with the online ethics module because it's the first of its kind."
I couldn't agree more.
It is worthwhile remembering that the ICAEW were to introduce an ethics paper in 2006, and would have been able to show that they were the leading institute in the field of ethics and a leader of the profession.
Yet as I can personally attest to, I was asked to an interview for the position of Ethics examiner, the ICAEW failed in their attempt to manage this and have ended up having to postpone their revamped syllabus.
See "Chaos At The ICAEW" for the background on this.
It is sad to say, but the leadership of the ICAEW are failing the membership and the profession.
It is time for a radical change.
Step one, reduce ths size of council to no more than 12.