Innovative Ideas for Ethics in Finance wanted for Prestigious Prize of USD 20k Project Funding
A prize scheme was launched to honor the ideas of Robin Cosgrove who was an investment banker. He firmly thought that the shortage of practical ethics and integrity in finance and banking could be a significant hindrance in the way of stable economic growth. Robin died at the age of 31. The prize scheme is named as Robin Cosgrove prize.
Recently 5th Robin Cosgrove prize has been announced. The prize scheme is currently looking for the proposals with new ideas regarding ethics and integrity in finance sector. People under 35 are allowed to participate. Candidates are required to prepare and submit a paper comprising new ideas, their rationales and clear-cut conclusions. The proposal must not have more than 5000 words. It can be submitted by 15 April 2015. A prize of twenty thousand dollars will be given to the winner of the scheme which will be judged by global experts’ panel.
Carol Cosgrove-Sacks stated that trust is important in the finance industry. He added that Robin was of the view that people were losing trust in many financial institutions and banks and he was worried about the dangerous consequences. Robin’s idea of made it possible to introduce Ethics in Finance Prize. Over the last eight years this Financial Prize has gained international recognition. Carol added that they are pleased with ACCA’s support that will further endorse the award to young finance and accounting related professionals.
ACCA’s director of policy, Ewan Willars, stated that ACCA shares the belief of Robin Cosgrove, that lack of integrity and ethics in finance would affect public’s trust and adversely affect economic growth. So this Finance Ethics Prize is important. He further said that this prize is reflection of values of global accountancy body particularly ethics.
The award is administered by Carol Cosgrove and Observatorie de la Finance ( a Swiss not for profit organization) with the association of CFA Institute and ACCA (Association of Chartered Certified Accountants).