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Strong ethics and compliance functions are designed and implemented as part of an organisation’s culture. This article shares five principles of high-quality ethics and compliance programmes.
Although not a recent article, the 5 key points still hold true today. A company's ethical stance & supporting policies should form the foundation of strategic decisions moving forward. Ethical principles should be taught & shared throughout the organization not only to help build an inclusive culture within the company walls, but to maintain the public face of the company & ensure interaction with all stakeholders is managed in a way as not to damage the image & brand of a company. Ethical principles, in all forms, should be a guiding light to all professionals.
Lynsey Hunt Jul 2018
A good article to refresh knowledge.
Peter Dann Feb 2017
Here are the best practices for managing responsible business : Ensure that concerns are prioritised on the basis of their impact on the company and related stakeholders, and that there is regular monitoring and evaluation. Follow up and address red flags. A lack of action can encourage bad practices.
Anti-corruption and applicable human rights risk assessment procedures should be clearly understood across the entire organisation.
The board and leadership team should ensure there is top-level commitment to addressing wider business issues of relevance – in both understanding and allocating resources.
Assess what information is available and how it can be used to increase insight for both addressing risk and creating opportunity in relation to ethical performance and reputation. Include updates on ethical performance on the board agenda – this drives collection and action.
Ensure ethical architecture is in place, with optimum organisational design and support mechanisms, developing and providing relevant processes and tools to support employees and partners.
In order to implement an ethical culture, it is imperative to make it a strategic priority and set the tone from the top, with regular two-way communication with employees.
Encourage transparency and speaking up, ensuring a zero-tolerance on unethical behaviour that places the company and stakeholders at risk.
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