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Formal Ethics and Compliance Programs


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In its study of private U.S. companies, the Ethics Resource Center identified the following basic elements of comprehensive ethics programs—though only three (*) are mandated by the Sarbanes-Oxley Act:

  1. Written standards for ethical conduct*
  2. Training on company standards of ethical workplace conduct
  3. Provision of a mechanism for seeking ethics-related information or advice
  4. Provision of a mechanism for anonymously reporting misconduct*
  5. Disciplining of employees who violate the standards or the law*
  6. Assessment of ethical conduct as part of performance evaluations

The study found less than 40% of companies have put these elements in place. For more information on reducing ethical risk and misconduct, see the National Business Ethics Survey at www.ethics.org .

Source: National Business Ethics Survey , 2007, www.ethics.org/research/nbes.asp .

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