Ethics man
12 May 08
Ethical behaviour should run through a company like the lettering in a stick of rock. All the more reason to pay attention to Dr David Molyneaux's new publication, What do you do now?
There’s been a lot of press coverage recently on the subject of business ethics. First, an internal audit by BAE Systems, the British military contractor, found that the company had left itself open to corruption charges by failing to pay enough attention to ethics – particularly in the well-publicised deal involving arms sales to Saudi Arabia.
Second, one of the granddaddies of high finance, Evelyn de Rothschild, wrote in Friday’s FT that stricter adherence to ethical standards in the world of finance was necessary.
An increasingly competitive global commercial environment brings ethical questions to the fore. Ethics can be dismissed as humdrum but we need only look at the damage to corporate reputation caused by ignoring the issue to realise that ethical behaviour should run through a company like the lettering in a stick of rock.
The proper tone must be set at the top and this must be cascaded through the organisation. Leaders must lead by example. Pressure to deliver makes people behave differently – to take decisions which may not always be “right”. Professional accountants, of course, have strict ethical codes to guide them, but doing the right thing should be part of professional instinct.
Examples of ethical dilemmas and how to address them are good ways of promoting ethical behaviour. Our very own “Ethics Man”, Dr David Molyneaux CA, a business ethics expert, ordained minister and a former partner with a leading firm launches What do you do now? today. David’s publication consists of a number of realistic scenarios that professional accountants may face throughout their careers. They’ll also be featuring on a monthly basis here on CA Mag online.
Take the time to put yourself in these scenarios. How would you do the right thing?