Abstract
Recent events in Australia exposed by a parliamentary inquiry have laid bare the high reputational costs of professional malfeasance for management consultants. Loss of career, future business, and professional status has devastated the accounting, auditing, legal, and management consulting components of at least one of the Big Four firms. This paper discusses the importance of consultants developing a moral compass and adhering to well-founded codes of ethics. It also highlights the importance of creating a corporate culture and codifying ethical standards to protect clients and the profession.