Code of Ethics

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What is a Code of Ethics? Meaning.


A Code of Ethics is a set of standards, rules, guidelines, and values that govern and guide ethical business behavior in a company, profession, or (non-profit) organization of it's employees (members, practitioners), managers and leaders, interactions among these employees, managers and leaders, and interactions between these employees, managers and leaders and the general public.


Since the 2002 Sarbanes-Oxley legislation, any publicly held company is required to create its own Code of Ethics to deter wrongdoing and to promote ethical behavior.


The SEC regulations implementing section 406 ("SEC Implementing Regulations") define a Code of Ethics to mean written standards that are reasonably designed to deter wrongdoing and to promote:
(i) honest and ethical conduct, including the ethical handling of actual and apparent conflicts of interest;
(ii) full, fair, accurate, timely and understandable disclosure in reports and documents filed with or submitted to the SEC and in other public communications;
(iii) compliance with applicable laws, rules and regulations;
(iv) prompt internal reporting of code violations to an appropriate person; and
(v) accountability for adherence to the code.
 

Some codes of ethics have the force of law. Violations of these codes may be subject to administrative (e.g., loss of license), civil or penal remedies. Other codes can be enforced by the promulgating organization alone; violations of these codes is usually limited to loss of membership in the organization. Other codes are merely advisory and there are no prescribed remedies for violations or even procedures for determining whether a violation even occurred. Furthermore, the effectiveness of codes of ethics depends on the extent to which the management of the organization embraces and supports them.


Code of Ethics Special Interest Group


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Forum about Code of Ethics  

Discussions about Code of Ethics.


Three Groups of Traps That Contribute to Unethical Behavior by Managers
Hoyk en Hersey (2010) argue that ethical behavior of people specifically focusing on management level employees - is i (...)
 
 
 
 
🔥 NEW Can Ethical Behaviours Be Taught? How?
Andrew Fastow, the former CFO of Enron indicated in a recent interview that large US companies are doing the same things (...)
 
 
 
 
Ethical Decision Making Process Model
I'm looking for guidelines/models for an ethical decision making process? Preferably in diagram form with the explanatio (...)
 
 
 
 

Best Practices about Code of Ethics

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🥇 Code of Ethics in Dept of Budget, MoF
What are the best code of ethics that a department of budget in Ministry of Finance of a government should follow? Look (...)
 
 
 
 

Expert Tips about Code of Ethics

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Information Sources about Code of Ethics

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Introduction to Business Ethics. Concept Overview

Business Ethics, Ethics in Business, Corporate Social Responsibility, Code of Ethics, Unethical Business Practices (...)
 
 
 
 

Ethics and Ethical Dilemmas in Business

Ethics, Ethical Behavior, Business Ethics, Ethical Decision-making (...)
 
 
 
 

Fundamentals of Business Ethics

Business Ethics, Corporate Ethics, Ethical Behavior, Corporate Responsibility, Stakeholder Management (...)
 
 
 
 

Compare with: Moral Purpose  |  Clarkson Principles  |  Corporate Transparency  |  Corporate Accountability  |  Corporate Governance  |  Corporate Responsibility  |  Strategic Stakeholder Management  |  Intrinsic Stakeholder Commitment  |  Globalization

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This ends our Code of Ethics summary and forum.



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