Codes Of Ethics Of Directors In Corporate Governance

In order for the directors and executives in any company to know that their employees are acting in an ethical manner, they need a defined

Our Code of Ethics Program is designed to uphold the interests of every stakeholder of Given Company. Our mission is to uphold a high level of integrity by maintaining high company standards, values and principles to ensure the company meets its mission of being a good corporate citizen who is socially responsible. Our program provides effective guidance for daily decision making for all levels of personnel in an effort to establish and promote long-term relationships within Given Company and with our customers and community. The overall goal of the program is to be diligent in establishing a culture

Everything in life has a trade off. "Ethics is defined as the moral principles that govern a persons behavior." Ethics is constructed by society, and personal values, the purpose of code of ethics is that it gears all organizational conclusions, creating a groundwork in which all conclusions are drawn. This can benefit to build a sense of barriers through the organization. A well thought out code of ethics can assure a companies standing. Looking at the world of business and ethics, it is clear to see that there are many possible tradeoffs. One can be loyal to the company, and not have the best success, or one can be deceiving and manipulating in order to become rich and successful. The motivation for researching this topic is to see how the

A code of ethics highlights the responsibility and accountability standards of each and every employee within the organization. These codes are also motivating factors that guide the employees’ behavior, set the standard regarding ethical conduct, and build an organizations trustworthiness within

As many organizations have or seek to establish a global footprint, it is imperative that they establish a written code of ethics that clearly lays out what the company stands for as well as enforce it. This is required as it will establish the acceptable behaviors for those that fall under the code of ethics. Taking the time to develop this is key to successful interactions with internal and external shareholders as well as reducing negative perceptions by stakeholders.

Every company should have a code of ethics, because it maintains the company’s values, culture, and reputation. It communicates to employees that the company is committed to doing business responsibly. It also guides employees’ conduct and how they should interact with each other, customers, vendors, contractors, and the general public. Code of ethics set clear standards and expectations for employees, and if everyone in the company adheres to these policies, then the company will create a culture that reflects the code. Companies with code of ethics also show that they are committed to integrity and social responsibility, which in turn will make their customers feel more reassured, and help with the company's bottom line as well as protect the company from potential liability.

The company’s code of ethics required the employees to obey all safety laws, health and environment regulations. To conduct themselves in the community with good citizenship with in the corporate surroundings. Appropriate accounting was established for internal controls and record keeping to meet both legal and business requirements. Employees are expected to follow the policies and controls set by the accounting principles.

Urges the creation of a code of ethics by every corporation, to insure that the company's ethics are met by employees. ( Although a corporate code of ethics cannot prevent unethical behavior, but it can have an impact on employee decisions. If a worker knows that a certain course of action violates his company's ethical code, he is likely to give more thought to whether or not he should pursue that course of action)

A code of ethics/conduct is an important part of an organization. It clarifies the organization 's mission, values and principles, linking them with standards of professional conduct. According to CSUGlobal.edu (n.d.), ethics is the study of good and bad behavior and a person is acting ethically, they are doing what is right. Additionally, ethics require that a person conforms to a higher standard of behavior than the law requires. A code of ethics is an open disclosure for the way an organization operates and provides visible guidelines for behavior (ethics.org, 2009). Having a code of ethics is important as it guides decisions, at all levels, which creates a common foundation for which all decisions are based. As Ingram (n.d.) adds, it is important for any business because breaches of ethics can put companies in serious trouble with consumers, other organizations or government authorities. There is a prevalence of ethics codes in organizations all around the world; in the United States, according to Schwartz (2002), over ninety percent of the larger corporations have a code of ethics. By establishing a clear cut set of ethical standards, employees become aware of what the organizational standard is for ethical decision-making and the culture it strives to establish. No matter the type of organizational form, it is important to establish ethical standards.

Businesses should make it imperative that its officers, directors and employees act at all times in an honest and ethical manner in connection with their service to that particular company. The principles of integrity and accountability are the cornerstone of that companies' success. This code of business conduct and ethics sets basic principles to guide all employees, officers, and directors of that particular company. All of the personnel and directors of that business should conduct themselves accordingly to avoid in fact and the appearance of improper behavior. Ethical business conduct calls for all companies and their personnel to assume responsibility for safeguarding and preserving that company's assets and resources in the

The Code of Ethics is to be used as a guide of the company values. This information will inform employees about the core values of Company X, along with an understanding of why having a commitment to the ethical conduct is a necessity.

Therefore, I agree with the author of the article, that code of ethics should do more than establish acceptable standards. With using code of ethics, accountants have an increased knowledge of how important it is to do what is right, which will in turn help to remain in compliance with rules and regulations. Having ethics should benefit the company not only to increase profits, but as a whole.

Ethics is the basic standard of right or wrong which is practiced in our everyday lives be it professional or personal, it helps individuals to control their actions. Organizations have a mission statement which identifies their company value. These values are used as a guide in decisions making when faced with problems and determining the outcome. After reviewing Eli Lily and Company organizational ethical code for financial management, it appears to be very thorough and touches most if not all of the main points that a company should display as their code of conduct. The principles listed were acting in confidence, complying with rules and regulations, promoting ethical

First, we need to grasp how Codes of ethics were created and if formulated from a standard boilerplate Ethics program. As stated by FindLaw.com under ‘Corporate Ethics and Sarbanes-Oxley, in order “to create code of ethics, an organization must define its most important guiding values, formulate behavioral standards to illustrate the application of those values to the roles and responsibilities of the persons affected, review the existing procedures for guidance and direction as to how those values and standards are typically applied, and establish the systems and processes to ensure that the code is implemented and effective.” (Navran, 2003) A company can work to promote ethical behavior; however, the process is “not easily created from boilerplate.” (Navran, 2003) The process has been broken into five sections which can be seen below from Corporate.FindLaw.com, on the same page by Navran.

The guidelines for code of ethics as established by the Federal Deposit Insurance Corporation (FDIC) develop a guide to encourage management of financial institutions, including the board of directors to spread their message of integrity and ethical values to all those involved with the organization. The suggested policies the FDIC encourage to be developed are: