Financial Professionals must promptly report any conduct that they believe to be a violation of this Code to the Banks General Counsel and cooperate fully in any internal or external investigations of possible violations. ACI has been an active part of the evolution towards new global standards in the Financial Markets. Our policies will help you to unde The main purpose of a code of conduct is to set and maintain a standard for acceptable behavior to all stakeholders in a company.It is a reminder to the employees of what is expected from them. Ethical Conduct in Financial Markets. Disciplinary Procedures and Penalties Page 36 XIII Review of the Code of Conduct and Ethics Page 38 XIV. Hypothesis II Ethics does not have much impact on the practice of accountancy profession in Nigeria. A code of ethics encourages ethical conduct, business honesty, integrity, and best practices. Act responsibly and within your authority 9 We must be disciplined, responsible and take accountability for the risks we take. Therefore, all professional accountants in business can support an organizations code of conduct through their own behavior. A banks reputation for integrity is perhaps its most valuable asset and is determined by the conduct of its Directors, Officers and employees. corporate sustainability voluntary codes of conduct have a positive impact on their members. ACI and Codes of Conduct. Gives a Legal Mandate. Attending to this process with honesty and integrity allows Academic dishonesty has become an important issue in institutions of higher education. Whether your company hires an outside financial manager or manages its finances in house, ethical considerations are both necessary and expedient. Acknowledgment: People need the services of the government agencies board and organizational leaders to provide for the implementation of the laws (i.e., the 2002 public-Oxley act) or to not clearly explain. Code of Conduct for Service Providers 11 Conflict of interest Through your Manager, let the MS Supervisor, Manager or Partner know about any relevant financial interest a project stakeholder may have which may affect project results. Importance of code of conduct. importance that senior management places on ethical behavior1. Like other ethics there is a certain code of conduct or standards to be followed, however ensuring that the ethics are complied with is often difficult. 3.3 It is important to reiterate that the primary purpose of the Code is a positive one, namely to promote exemplary conduct. Many companies have a code of conduct to help guide their employees. Developing and reviewing a code helps to make It also states that accountants are to maintain competence by continuing the development of their knowledge and that accountants follow all relevant laws, standards and Executive Summary. A well-written code of conduct Externally, a code serves several important purposes: Compliance: Legislation (i.e., the Sarbanes-Oxley Act of 2002) requires individuals serving on boards and organizational leaders of public companies to implement codes or clearly explain why they have not. February 8, 2006 . The code is available as part of a package. The FDIC recently issued guidance to regulated financial institutions emphasizing the importance of an effective internal corporate Code of Conduct or Ethics Policy to the promotion of fair and ethical actions that are a fundamental basis to good business practices. 2.1 The purpose of this Code is to establish guidelines for the professional conduct and responsible behaviour of those acting on behalf of the University, including executive officers, employees, as well as volunteers and representatives.