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Proposed guidance to develop codes of conduct

Friday, December 1, 2006

IFAC’s Professional Accountants in Business Committee has issued a draft of new guidance to assist companies and their professional accountants in developing and implementing a code of conduct. The proposed guidance, “Defining and Developing an Effective Code of Conduct” highlights the varied roles of professional accountants in business in driving and supporting organizational ethics and conducting ethics programs. It also provides practical guidance on the design and development of such codes. The committee has recognized that effective codes of conduct are a key element of strong corporate governance and internal controls within businesses worldwide. A copy of the proposed guidance can be found below.

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