Majority of consumers influenced by ethics

Seventy six per cent of consumers say their purchasing decisions are influenced by a company’s ethical behaviour, according to latest research from the Association of Accounting Technicians(AAT).

The Accounting for Good study looks at how accountants can educate and hold businesses to account with regards to the importance of ethical practices.

Ethical factors influencing which businesses consumers would engage with included tax avoidance (43%); maximum  transparency with regards to company accounts (36%); a strict ethical code about their supply chain (39%) and being careful with sensitive client data (43%).

“Having a strong ethical code and not engaging in aggressive tax avoidance can result in increased profits for businesses… Accountants have a key role in showing businesses how they will benefit from this,” said Mark Farrar, Chief Executive of AAT.