U.S. Comptroller General Asks MPAs
to Do Better Than Satisfactory
by Kate McCann
Speaking to the newest class of MPAs in the McCombs School of Business,
U.S. Comptroller General David Walker opened the 2005 Lyceum Speaker
Series by emphasizing two words: integrity and stewardship.
Integrity must be an unimpaired condition that serves the people and
information, Walker said, because without it, “nothing else matters.”
As he explained it, the “P” in Certified Public Accountant means retaining
public trust, responsibility to the public and a drive to serve public
interest. This, he said, is stewardship—thinking about others from a
community perspective.
While Walker was not asking individuals to become superheroes, he encouraged
responsibility and teamwork. Each CPA must be accountable and lead others
by example, he told students. A CPA must not be daunted by the task
of keeping the corporate world accountable—the alternative is to live
as a hypocrite.
“The law represents the minimum of acceptable behavior,” he said. “Too
many people make unprofessional decisions, thinking, ‘It’s not illegal.’
But that doesn’t mean it’s not unethical.” Walker objects to CPAs resting
on the floor of acceptable behavior. Instead, he would like to see accountants
rise above satisfactory standards and do what’s ethically right.
Drawing on his 20 years of experience in the private sector and as the
former global managing director of Human Capital Services, Walker cited
the famous breakdown of accountability in the firm Arthur Andersen.
The unstoppable accounting powerhouse went from a global gold standard
to a non-existent business in less than two years after the firm was
found guilty of obstructing justice by shredding Enron documents in
2002. Arthur Andersen’s actions caused a ripple effect in the industry
that caused the public to question their trust in corporate ethics.
“Trust is hard to earn and easy to lose,” he said. “It takes decades
to build a reputation of integrity.”
From this loss, three standards emerged. Management was called upon
to work toward sustainability over time, to be transparent and to take
accountability for wrongdoings.
The comptroller general said that the government has been a “lag indicator”
of making the necessary changes. A series of charts and graphs contrasted
the financial decisions made by the government of today and the government
of yesterday, which demonstrated the changing priorities in our budget.
“Our financial situation is worse than advertised,” he said. “Running
a deficit this big is imprudent and the trend is not positive. The government
is on an unsustainable path.”
Walker had one last piece of advice for the students. “Please give two
years of your life to public service,” he said. “We’ve lost that commitment
and are turning more towards a ‘me’ society.” To deal with the many
financial and ethical issues vexing the U.S. today, Walker believes
it will take the combined efforts of many institutions over an extended
period of time and a renewed dedication to integrity and stewardship.
For information on specific programs at the McCombs School, consult our contacts page. For media information, contact the Communications Director by phone at 512-471-3314 or by email at CommunicationsDirector@mccombs.utexas.edu.
