07/11/2024
Voluntary Code of Conduct for Directors: Will it make a difference?
The Institute of Directors (IoD) have published a consultation document on a code of conduct for directors.
The new code would be voluntary and is designed to help directors and business leaders build trust from the public in their business activities. It has been prompted by recent corporate scandals, such as the Post Office, that have had a wider impact on the public losing trust in business leaders.
The code of conduct is centred around six key principles: Leading by example, Integrity, Transparency, Accountability, Fairness and Responsible Business.
Because the code is voluntary and contains no means of enforcement, questions have been raised over how useful this code will be and what the take up is likely to be.
For more information read the full consultation document, see: https://www.iod.com/resources/governance/iod-public-consultation-on-a-code-of-conduct-for-directors/
For our assistance, please call 023 8046 1254 or email James Flood.
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