SINGAPORE, 18 October 2025 — Artificial intelligence (AI) is no longer a future concern but a present reality, bringing with it ethical challenges that demand urgent action.
Marking Global Ethics Day, the Association of Chartered Certified Accountants (ACCA) and the Chartered Institute for Securities & Investment (CISI) have issued a stark warning: without stronger governance, improved skills, and alignment between organisations and regulators, the financial profession risks losing the trust that underpins its credibility.
The warning comes as the two bodies released a new report titled AI Monitor: Shining a Light on AI’s Ethical Threats for Finance Professionals, which highlights the growing need for ethical literacy and responsible adoption of AI.
The report coincides with Singapore’s National AI Strategy 2.0 and Model AI Governance Framework, both of which outline clear expectations for transparency and accountability in AI use, reinforcing Singapore’s leadership in ethical technology governance.
The report identifies four key findings:
- AI is already embedded across work and life, making its ethical implications unavoidable.
- AI poses specific risks for finance professionals, heightening the importance of upholding core ethical principles.
- AI literacy is essential, blending technical understanding with moral and professional judgement.
- Alignment across individuals, organisations, and policymakers is critical, as no single group can manage these challenges alone.
It also sets out practical steps for professionals and institutions. Individuals are urged to strengthen their awareness of ethical dilemmas in AI use, supported by practical checklists to guide decision-making.
Organisations are encouraged to create robust governance frameworks, set the right leadership tone, and foster a culture of ethical accountability. For policymakers, the report calls for collaboration with professional bodies to align regulations, reduce fragmentation, and mitigate systemic risks, an approach that echoes the Monetary Authority of Singapore’s (MAS) guidance on AI model risk management.
“Ethical threats from AI are here; they are no longer theoretical,” said Helen Brand OBE, Chief Executive of ACCA. “AI is reshaping the way finance professionals work, but it does not change the foundations of our profession, integrity, objectivity, competence, confidentiality, and professional behaviour.
“These principles help us address AI challenges, but individuals cannot do it alone. Organisations and regulators must invest in upskilling and governance so that AI strengthens, rather than undermines, public trust.”
Tracy Vegro OBE, Chief Executive Officer of CISI, echoed this sentiment: “Technology and trust must go hand in hand. Ethical frameworks are essential for AI development, particularly in markets like Singapore, where finance and technology intersect.
“The CISI Certificate in Ethical AI, developed jointly with ACCA, equips professionals to apply ethical judgment in practice. Initiatives such as IMDA’s AI Verify framework are also vital in fostering responsible AI and public confidence.”
The joint research drew on global roundtables across Asia Pacific, Africa, the UK, and South Asia, where professionals explored real-world scenarios, from algorithmic HR decisions to AI-driven audit and tax systems.
The discussions confirmed that while finance professionals are well equipped to apply ethical judgement, their success depends on collective systems of support, education, and alignment across the profession.
