Ethics: Implementing a code

Abstract

- Quoting the Ethics Resource Center: "A code [of ethics] cannot stand alone. Too often this is not understood and well-crafted codes end up having little impact" (p. 7) - Need to 1. Communicate code to every worker 2. Management actively support 3. Convey expectation that behavior will conform to the code - "Recent ethical transgressions of managements in corporations" have led to regulatory changes (p. 7) - Sarbanes-Oxley Act of 2002 makes large changes to financial reporting, internal controls, and responsibilities of audit committee - Includes fines and jail sentences - Particular emphasis on CEO & CFO - Required to adopt a code of ethics