KUALA LUMPUR, Malaysia, Jan. 21, 2016 (Antara/PRNewswire) -- The
Chartered Institute of Management Accountants (CIMA) and the American
Institute of CPAs (AICPA) have developed a tool to help businesses to
implement an effective corporate ethics policy. The tool comes complete
with case studies from five companies and supporting questions.
In the aftermath of the financial crisis there has been a dramatic increase in transparency, government regulation and public scrutiny. This all points to the need for organisations to embed ethical considerations into strategy and performance measurements.
Businesses that want to succeed in the long term have to reflect upon ethical challenges in their own operations. They must take action to avoid integrity risks.
The tool incorporates the following areas that are critical for an effective corporate ethics policy:
Tanya Barman, CIMA's Head of Ethics, said:
"Business risk is ever present, and often ethical risks can be present in your own organisation. Putting in place ethical policies together with a range of supporting activities can help ensure that such risks are identified, escalated and resolved before they become a reputational time-bomb. Don't let your company be the next scandal".
The ethics tool is available at http://www.cgma.org/Resources/Reports/
Press enquiries
Siew Lian
M. +6012 5023 985
E. chan.siewlian@cimaglobal.com
Notes to Editors
The Chartered Institute of Management Accountants (CIMA), founded in 1919, is the world's leading and largest professional body of management accountants, with over 227,000 members and students operating in 179 countries, working at the heart of business. CIMA members and students work in industry, commerce, the public sector and not-for-profit organisations. CIMA works closely with employers and sponsors leading-edge research, constantly updating its qualification, professional experience requirements and continuing professional development to ensure it remains the employers' choice when recruiting financially-trained business leaders.
For more information about CIMA, please visit www.cimaglobal.com
Follow us on Twitter at www.twitter.com/CIMA_News
In the aftermath of the financial crisis there has been a dramatic increase in transparency, government regulation and public scrutiny. This all points to the need for organisations to embed ethical considerations into strategy and performance measurements.
Businesses that want to succeed in the long term have to reflect upon ethical challenges in their own operations. They must take action to avoid integrity risks.
The tool incorporates the following areas that are critical for an effective corporate ethics policy:
- Code of ethics
- Communication and awareness campaigns
- Training and reinforcement
- Supporting context and culture -- having an ethical architecture in place
- Monitoring and accountability
- The litmus test -- whether your ethics policy is working
Tanya Barman, CIMA's Head of Ethics, said:
"Business risk is ever present, and often ethical risks can be present in your own organisation. Putting in place ethical policies together with a range of supporting activities can help ensure that such risks are identified, escalated and resolved before they become a reputational time-bomb. Don't let your company be the next scandal".
The ethics tool is available at http://www.cgma.org/Resources/Reports/
Press enquiries
Siew Lian
M. +6012 5023 985
E. chan.siewlian@cimaglobal.com
Notes to Editors
The Chartered Institute of Management Accountants (CIMA), founded in 1919, is the world's leading and largest professional body of management accountants, with over 227,000 members and students operating in 179 countries, working at the heart of business. CIMA members and students work in industry, commerce, the public sector and not-for-profit organisations. CIMA works closely with employers and sponsors leading-edge research, constantly updating its qualification, professional experience requirements and continuing professional development to ensure it remains the employers' choice when recruiting financially-trained business leaders.
For more information about CIMA, please visit www.cimaglobal.com
Follow us on Twitter at www.twitter.com/CIMA_News
Reporter: PR Wire
Editor: PR Wire
Copyright © ANTARA 2016
