Corporate Scandal and Business Ethics: The Role of Professional Accountants in Nigeria

The recent rash of corporate scandals has become a widespread problem due to the huge impact on creditors, investors, and the general public. The design of this study uses quantitative research methodologies; data was gathered via questionnaires. The sampling process made use of the purposive sampling technique. 105 employees were included in the samples that met the study’s criteria. The findings of the study indicate a positive, significant relationship at the level of significance between accounting fraud, business size, professional integrity, professional skills, and ethical code of professional behaviour. The results of the study reveal that corporate crises emphasize how imperative it is to establish and enforce strong company norms that highly value morality and integrity. An established company code acts as a foundation for ethical behavior, reducing the chances of wrongdoing and fostering responsibility and openness. In an increasingly complicated business environment, professional bodies help to foster long-term success and sustainability by enhancing reputation and trust among stakeholders. Therefore, the present study concluded that businesses should give priority to establishing, implementing, and strictly enforcing good corporate codes of conduct that respect ethical behavior and integrity. For the employees at all levels to understand, accept, and adhere to the provisions contained in the corporate code of conduct, regular training, communication, and monitoring processes should be established. Professional ethics are a cornerstone of organisational culture that is required to overcome obstacles with resilience in building long-term success and stakeholder confidence in an increasingly ethical global economy.