Formal Ethics and Compliance Programs


 

 

 

 

 


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 .

PODCAST

What’s next for potential CPA licensure changes

A new model proposed by NASBA and the AICPA is designed with an eye on the future for newly licensed CPAs. The AICPA's Carl Mayes, CPA, provides background on the project and a look ahead to 2020.

VIDEO

What RPA is and how it works

Robotic process automation is like an Excel macro that can work on multiple applications, says Danielle Supkis Cheek, CPA. RPA can complete routine, repetitive tasks such as data entry, freeing up employee time from lower-level chores.