A very recently conducted research by ACCA professional shows that accountants and well as the accountancy profession will lose its credibility and value in public and stakeholders if it doesn’t try to rebuilt its trust. However, many business laws and regulations have been made by accountancy professional in the recent era but still there is lack of trust between this profession and public. The research included almost 150 accountants and 1500 customers and the perception based lack of trust was observed. This is due the recent financial and economic crises that have badly ruined the profiles accountants and finance personals and they don’t trust. People now think that accountants do everything for the companies they work for and they don’t care anymore for public’s interest.
ACCA has clearly understood this fact and is working to make accountants understand this big responsibility and make sure that they work for the betterment of the society and should not just adhere and work for the companies they are attached with.