This report analyzes and examines the code of conduct of National Australia Bank, focusing on topics such as discrimination, exploitation, corruption, and fraudulent behavior. The code ensures the security and ethical practices of the bank's employees.
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Running head: REPORT0 governance, ETHICS and Sustainability APRIL 29, 2019 STUDENT DETAILS:
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REPORT1 Contents Introduction................................................................................................................................2 Company overview....................................................................................................................2 Code of conduct of National Australia Bank.............................................................................2 Discrimination........................................................................................................................3 Exploitation............................................................................................................................4 Corruption and Bribery..........................................................................................................5 Dishonest and fraudulent behaviour.......................................................................................6 Whistle-blower protections....................................................................................................6 Enforcement...........................................................................................................................6 Conclusion..................................................................................................................................7 References..................................................................................................................................8
REPORT2 Introduction A code of conduct refers to a set of regulations, which describe common norms, spiritual regulations, provisions and obligation of, and appropriate exercises meant for individuals. An organisation’s code of conduct is established for personnel of entity. It ensures a security of the businesses. It also provides notifications to workers of company in relation to worker’s expectation. In the below mentioned discussion, a code of conduct of National Australia Bank is analysed and examined. National Australia Bank is committed to rendering common, economicand conservationalcontributionsto a society, perpetualdoctrinesrelated to honesty, fairness, righteousness and respect. National Australia Bank’s board has adopted the Code to provide a set of directing the principle followed by the workers of organisation workers of National Australia Bank are expected to act continually with set of principles in a code. Company overview National Australia Bank Limited is the business bank involved in rendering individual banking services and business banking services. The sections of corporation involve the business & private banking, CIB, Customer Product and Service, Consumer Banking & Wealth Management and New Zealand Banking. The Business as well as private Banking put focus on clients of SME that involve National Australia Bank business franchise with specific agriculture, wellbeing, governments, teaching and group services with private small business segmentsandbankingsectors.TheCorporateandInstitutionalBankinginvolvesthe organisational banking business, FICC, business related to capital financing, asset services
REPORT3 and the foreign branches. Customer service and product involve banking and wealth products, strategies, digital, and National Australia Bank lab, selling and business dealings. Consumer bankingandWealthManagementinvolvetheallocationofelementsofthewealth management. Code of conduct ofCompany- The code of conduct of the National Australia Bank is examined in the following parts- Discrimination The process and structure that support the regular operations of the group, is developed to make sure that all proper normally recognised human rights are secured. For conforming to the principles provided in the ethical sourcing approaches, procedures and code, National Australia Bank is devoted to conduct the conservational contributions, economic help, and public contributions. National Australia Bank restricts the discrimination and imposed, operated and child labour and are devoted to protect the working conditions, including right of freedom of the association and mutual conveying. National Australia Bank has broad ethical sourcing approaches that develop the minimum standards anticipated of the division that sell the products for reselling. It is recognised by organisation that some levels of discrimination based on feminineness, phases, race, inability, sexual orientation, old-style background, belief, family obligations, or other areas of prospective variation are the probable risk in an organisation.National Australia Bank also identifies that rights of person that organisations employees to negotiate the salary jointly or at personal level, either by taking involvement or by not taking the involvement of other people. It is believed by an organisation that suppleness of legal provision represented to employees, should be increased.
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REPORT4 The security of employees is the top priority of the organisation and where a corporation is considering the benefits of the inexorable activities, puts focus on making the workstation protected. It is also admitted by the company that if any worker is injured at the workstation, the security performances still require the expansion. A confidentiality has raised as an extensive matter in the year. A corporation has procedure as well as system in place to protect the secrecy however admit that privacy requires ongoing significant resources. According to the related policies, each supplier making goods for reselling must approve to follow to minimum norms in agreement with organisation(McGaughey, 2018). Following are the minimum requirements such as- 1.No misapplication 2.No discernment activities 3.Freedom of association 4.Woking conditions must comply with relevant common laws 5.No corrupt activities 6.No child labour 7.Environmental agreements Exploitation National Australia Bankdoes not support the illegitimate perceptions, worker exploitation oppressions and other violent or wrongful conducts (Janssens and Kaptein, 2016). The organisation may create the positive and helpful working environment through- a.working and assisting mutually collaboratively b.Making decisions related to hiring according to the representation. Secured work atmosphere of company will provide the safe working conditions.
REPORT5 c.Conforming with domestic rules and central laws and regulations in relation to security d.Making sure that does not exploit against, oppress, or hassle members of team and at workplace It is required by the workers ofNational Australia Bank that they should- a.Report the security related issues b.Abide by the protection related policies c.Conform with the policies related to alcohol and drugs of National Australia Bank d.It is required by the company that employees should not to smoke at working hours or at permitted breaks at premise, supported operations, as well as acts. An organisation has ZTP in relation to illegal ownership of drug and its consumption, and a exploitation of drug, at work whether in an organisation’s premises, when operating the businesses in the best interests ofNational Australia Bankor atNational Australia Bank- sponsored role. The Zero Tolerance Policy of company is very helpful for the workers to not be exploited (Miklosik, et. al, 2018). Corruption and Bribery National Australia Bankis devoted to make sure the anti- bribery at the workstation. Bribery can take numerous ways. The benefit that is offered, rendered, or taken may be economic or non-economic.Forinstance,thiscaninvolvenon-valuablegifts,loans,political contributions, charity, and give-and-accept favour, opportunities related to jobs and services or excessive business hospitalities. A bribery may accept indirectly as well as directly. For the instance, where an individual gets, the mediators and the agents to render offer that make a bribe to others; or render proposals, which establish that bribe is made to the companion of
REPORT6 the individuals, who are required to be influenced. The workers of National Australia Bank must not render, render proposals, provide guarantee, or require the bribe and must not cause the bribe to be given, accessible, guaranteed, or received by the others. No any situations will the National Australia Bank support of the offers, or make, require and take the uneven payments or new things of a value, to operate businesses and influence the decision relate to business in the favour of National Australia Bank (Baumeister and Gutsche, 2017). Furthermore,NationalAustraliaBankrestrictsofferingoracceptingthegiftsand entertainment in the circumstances that may be considered to render development to the undue influence. In a case where the values of gifts or entertainment exceed the gift registration threshold, this must be promptly noted in the related gifts or entertainment register and stated to proper Anti-bribery Officers. The Anti-bribery officer may get more information through workers of National Australia Bank for empowering that the above- discussed conditions are fulfilled in respect of the gift and entertainment that is noted on the gifts and entertainment register (Linn, Smith-Gander and Barrington, 2015). Dishonest and fraudulent behaviour Every worker and director of the company is expected at every time to act continually with related principles. As per the principle of perform with integrity, honesty and fairness, the workers are required to be responsible for a decision. The honesty, integrity and fairness is very necessary to a way wherever the business operates and should direct the decisions. The values are very necessary to establishing belief of the suppliers, customers, friends, groups and shareholders (Dakhelalla, 2014). The shareholders, suppliers, customers and various communities of the National Australia Bank are required-
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REPORT7 To perform the duties due to care and diligence as well as seeking getting the quality in the roles To not to get involvement in illegal and unethical actions To become responsible for a decision and an action, and To make deals honestly with customers, competitors, and suppliers Workers of organisation must not conduct deals in the securities of National Australia Bank, or listed corporations, though in control of inner information in respect of the securities. The internal information means to the data, which is not usually present and if this was, may or would be likely to considerably affect the security’s prices (Pearn, 2015). More prohibitions are applicable to the manager and the leader of the National Australia Bank, and may be applied to the specific project teams from time to time. As per the principle of perform in compliance with rules and regulations of the organisation, and do not make proper payment. The workers of company must be alert and conform to the laws (Pulker, et. al, 2018). Whistle-blower protections As discussed above, the code of conduct relatively bans the direct involvement or indirect involvement in illegal discrimination, exploitation on a line of bullying, sexual harassment, dishonest conduct or fraudulent behaviour and the corruption. The case can be in the forms of violation of one or more of the lawful or administrative needs, procedures and directions of the company. The workers, directors, consultants or other people, who desire to or attempt to report in relation with misbehaviours, secretly or not secretly, are considered as whistle blowers. This is significant that there are comfortable and open responses in a form of putting the concerned cases which are of critical significance(Klettner, Clarke and Boersma, 2014).
REPORT8 The code of conduct particularly will render security expressly against retaliation for having made the said reporting of misbehave (Zummo, McCredie and Sadiq, 2017). Enforcement The Code of conduct of National Australia Bank is imposed to people who are hired to do job in this company. Code of conduct of company is applicable to people while those people are identified as the representatives of corporations. In various conditions, this will involve the time while worker is out of the organisation. The agents, advisors, contractors and mediators are also accepted for recognising and seeing principles mentioned in code of conduct and should be careful of the code regarding the business of company. The copy of the code of conduct can be found on the website of the National Australia Bank. The copy of conduct and a relevant divisional unit code will be provided to the each employee at the period they took position in National Australia Bank (Grimmer, 2018). The code of conduct has full support of Board and administration of an organisation, and conformation with code is taken into consideration in really severe manner. As a level of responsibility, compliance with code and with personal local unit code is seen by internal audit operations of organisation regarding the Board of company. On the violation of Code, the worker may face corrective action, including closure of services. If the situation includes the violation of rules, the issue can also be referred to appropriate rules. This is the liability to directly report a violation of the code by colleagues to direct management and executive. They report conduct wherever there are no guarantees whether breaches of the code have occurred. All the reports will be kept privately and the employee will not be depressed and influenced by creating reports in a belief violation or alleged violation of laws and rules in relation of code of conduct (Jones, Comfort and Hillier, 2014).
REPORT9 Conclusion As per the above analysis, it can be concluded that Integrity is the moral stance, which leads a person to adhere to the values.The Code of conduct sets out the various individual qualities and directions on those norms of required conducts. These involve truth, Professionalism, commitments and agreed styles of administration.
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REPORT10 References Baumeister, S., and Gutsche, R. (2017) The impact of CSR reporting quality on analyst forecast accuracy. Oxford: Oxford University press Colla,A.(2017)Corporategovernancein2017:Failuresandwins.Governance Directions,69(4), p. 217. Dakhelalla,R.F.(2014)Theimpactofcorporategovernanceprinciplesonboard characteristics: an Australian study. USA: Springer Grayson-Morison, R., and Ramsay, I. (2014)Responsibilities of the Board of Directors. Cambridge: Cambridge University Press Grimmer,L.(2018)Thediminishedstakeholder:Examiningtherelationshipbetween suppliersandsupermarketsintheAustraliangroceryindustry.JournalofConsumer Behaviour,17(1), pp. e13-e20. Janssens, M. R., and Kaptein, M. (2016) The ethical responsibility of companies towards animals: A study of the expressed commitment of the Fortune Global 200.Journal of Corporate Citizenship, 75(63), pp. 42-72. Jones, P., Comfort, D., and Hillier, D. (2014) Environmental and Social Programmes and Rapidly Growing Retailers.Economia Seria Management,17(1), pp. 5-17. Klettner, A., Clarke, T., and Boersma, M. (2014) The governance of corporate sustainability: Empirical insights into the development, leadership and implementation of responsible business strategy.Journal of Business Ethics,122(1), pp. 145-165.
REPORT11 Linn, B., Smith-Gander, D., and Barrington, J. (2015) The debate: The year ahead.Company Director,31(11), p.18. McGaughey, F. (2018) Australia's proposed Modern Slavery Act for business reporting-part of an international trend in business and human rights.Australian Resources and Energy Law Journal,36(3), p.29. Miklosik, A., Evans, N., Hasprova, M., and Lipianska, J. (2018) Reflection of embedded knowledge culture in communications of Australian companies.Knowledge Management Research & Practice, pp. 1-10. Pearn,J.(2015)EponymousmemorialsoftheRoyalChildren'sHospital, Brisbane.Queensland History Journal,22(8), p. 621. Pulker, C. E., Trapp, G. S., Scott, J. A., and Pollard, C.M. (2018) Global supermarkets’ corporatesocialresponsibilitycommitmentstopublichealth:acontent analysis.Globalization and health,14(1), p.121. Zummo, H., McCredie, B. and Sadiq, K. (2017) Addressing aggressive tax planning through mandatorycorporatetaxdisclosures:Anexploratorycasestudy.eJournalofTax Research,15(2), pp. 359-383.