Ethics provides the overarching principles and rules which govern individual and organisational behaviour. These rules are normally documented in a values statement and reflected in policies, procedures and expected behaviours. Why promote ethics in business? An organisation with a strong ethical base is less likely to breach legal obligations, particularly where the law or circumstances…
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What is a conflict of interest? In a busines context, it is the conflict between profit and ethical sales practice or more broadly it can using information that is not readily available to others (such as insider trading or leaks from a government department. At all times, it arises where the private interests of an…
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The gold standard for the success of a compliance management system is a clear allocation of responsibilities within the business. Having management and staff understand their responsibilities across the organisation will mean they better understand the organisation’s policies and operational procedures. In large companies (such as the banks), the “Three Lines of Defence” model…
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