A REFLECTION ON HISTORICAL BIBLICAL PRINCIPLES IN SUPPORT OF ETHICAL STEWARDSHIP
A REFLECTION ON HISTORICAL BIBLICAL PRINCIPLES IN SUPPORT OF ETHICAL STEWARDSHIP

Summary/Abstract: Recent corporate history illustrates that, although accounting is acknowledged as the language of the contemporary business environment, it is not merely a detached technical activity, but rather a battlefield of diverse ideologies. The contemporary accounting objectives as promulgated by key accounting standard setting institutions (i.e. the IASB and FASB) is characterized by large volumes of (subjectively interpreted) principles. Together with these standards, professional accounting institutes have detailed codes of conduct aiming to ensure ethical behaviour in the profession. In his accounting treatise, Particularis de Computis et Scripturis Luca Pacioli became known as the father of accounting, and contributed both philosophical and theological perspectives to the accounting discipline. This paper aims to critically reflect on the relevance of the Bible in addressing ethically founded accounting and stewardship practices. In doing so, the profitability motive of business entities, together with the objectives of stewardship in the context of contemporary and historical accounting objectives are reflected upon. The paper concludes that ethically-based accounting and stewardship practices are instituted in the Biblical directives to manage God’s creation.

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