Every organisation should have an ethical framework, and every board should have a Directors Code of Conduct document.
Moreover, the Code of Conduct document should exhibit the values and principles enshrined in the ethical framework of the organisation.
Why is that so?
Because an ethical framework lays down the values and principles by which the organisation sets about achieving its purpose.
And a Code of Conduct document that reflects the organisation values and principles benefits both the board and the organisation.
On the one hand, it ensures the directors focus their attention and effort on what matters – guiding the organisation so that it fulfils its purpose.
And on the other hand, the document clearly specifies the organisation’s ethical expectations on its directors.
Potential directors can also gauge if their personal values align with those of the organisation before formal appointment.
The Directors Code of Ethics and Conduct gives an overview on:
- the benefits of adopting an ethical approach to corporate governance
- how to develop the code of ethics and conduct
- fiduciary duties and responsibilities of the board
In addition, the publication provides practical examples of issues and challenges to consider before accepting board appointments.
We also include an example of a Directors Code of Conduct document, which you can readily adapt for your organisation.
An ethical approach to corporate governance is essential to organisation success and sustainability. And the board of directors, as leaders of the organisation, should lead by example. Use our Directors Code of Ethics and Conduct to set the wheels in motion.