This report discusses the code of conduct of National Australia Bank, including topics such as discrimination, exploitation, corruption, dishonest behavior, and whistleblower protections.
Contribute Materials
Your contribution can guide someone’s learning journey. Share your
documents today.
Running head: REPORT1 Governance, Ethics and Sustainability Student details: 4/27/2019
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
REPORT3 Introduction.................................................................................................................................................4 Overview of National Australia Bank..........................................................................................................4 Discrimination.............................................................................................................................................5 Exploitation.................................................................................................................................................6 Corruption...................................................................................................................................................7 Dishonest and Fraudulent Behavior.............................................................................................................8 Whistle blower protections..........................................................................................................................9 Enforcement................................................................................................................................................9 Conclusion.................................................................................................................................................10 References.................................................................................................................................................10
REPORT4 Introduction The code of conduct is framed for a purpose to make sure the faithfulness to the ethical and professional standards in the course of the conduct of the business of National Australia Bank. Additionally, the objective is to make sure the legal compliance of the Corporations Act, 2001, IFRS, Australian Accounting Standards, ASE and all the related rules, regulations and laws in respect of the services relate to banking.The Code of Conduct ofNational Australia Bank describesthe standards of accountability and the moral conduct, which are expected of all the workers (temporary workers as well as permanent workers) ofNational Australia Bankand the contractors, managers and advisors. It is believed by this bank that all the workers and clients must be given respect and should be treated with dignity(Watson, et. al, 2015).National Australia Bank also ensures thatthe workers to act morally and sensibly in according the Code and to grow proper business conduct across company.The code of conduct of this organisation is applicable to workers, BOD and all the members of company. In the following parts, code of conduct of National Australia Bank id discussed by addressing discrimination, corruption, enforcement, dishonest and fraudulent behaviour and exploitation. Overview of National Australia Bank National Australia Bank Limited is a group related to the financial services, which renders the inclusive and incorporated range of financial services and banking services involving the wealth management all through New Zealand and Australia, along with branches placed in UK, Asia and USA.National Australia Bank Limited also allows savings account, transaction account, termdeposits,depositaccountandspecializedaccount,likeforeigncurrencies,interest, community free saver, legal faith and accounts of farm administration. This organization also
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
REPORT5 renders the home loan, agriculture business loan, personal loans, business marketplace loan and equipment and vehicle loan (Jayanti, 2018). Discrimination The organisation has knowledge about the accountability of making the working atmosphere over pillars of professionalism, honesty and self-esteem, as has been described in the Fair Work Act 2009 (Cth), federal anti-discrimination laws and as well as state anti-discrimination laws. The unlawful discrimination means the favourable conduct or behaviour at workstation due to the characteristic secured by the laws. The discrimination may occur in the organisation at different levels and the stages. It may happen during the hiring procedure in a way where the interviews are made and proposing the inequitable term and condition of a service. Additionally, theunjustifiableorfavourablechoicesfortrainings,transfersandrejectionforthe encouragement and inequitable retrenchment, removal from company and demotion also come in a type of illegal discrimination (Victorian Equal Opportunity & Human Rights Commission, 2018). Further, certain instances of discrimination at workstation are rejection to promotion due to the pregnancy, rejecting the worker due to sickness, preferences of promotions on the basis of civilization. The main objective of National Australia Bank is to attempt to keep the disciplined, strong and positive working atmosphere, and wherever the conflict is solved in the proper and effective way. The director of company are required to make sure that the numerous facts of the employment relationships are free from the individual biasness and are depended on personal performance, merits and objectivities (Policy and Policy, 2017). National Australia Bank is devotedto the security of those creating real and proper disclosures, and would not bear
REPORT6 victimization and negative consequences like discrimination or other unfavorable and poor treatment in reprisal regarding proper disclosures(Reamer, 2013). Exploitation The exploitation means a common term that includes different difficult conduct and attitude like psychological harassment and bodily harassment.National Australia Bank never bears employee exploitation oppression, illegal opinions, difficulties or other improper and illegal behaviour. The organisation makessecured work environmentby helping and conductingfunctionswith teamwork,ensuring that the organisation does not support exploitation against employees, and rendering secured working conditions. It also ensures that organisation does not harass the staff or others at workplace.The organisationmakes decision regarding the employment as per the presentation. Further, the workers of National Australia Bank are required to report the problem related to the safety, to adopt the policies about alcohol and drugs, to take the stand for process regarding protection and not to smoke at the workplace (Cubbage and Brooks, 2016). Additionally, this organisation has zero tolerance policy for unlawful ownership of drug and its consumption,andillegaluseofdirecteddrugs,atworkstationwhetherinpremiseof organisation, when running a business on behalf of National Australia Bank or at organisations- sponsored roles. These methods are very helpful for the employees to not be oppressed.The organisation is committed to a creation of equalised and positive work environment, and as a result the activities involving any of the above mentioned unlawful behaviour would be treated as the breach of the general conditions of an employment, which would further lead to disciplinary actions regarding the fines, relegations, closure of services and others (Vickers, 2014).
REPORT7 Corruption National Australia Bankworks on the line of the ZTP for corruption and bribery. The activities relatedtothecorruptionorthefraudincludepurposefulfalsifications,robberyofcash, information or the properties of the organisation, suppression or the demolition of the document of data in the system related to the information technology of an organisation; and involve the actions of bribery. In the addition of this, the bribe means the action of affecting the act and decision of person to get or retain the benefits of business and is encouraged by anything of value provided or proposed, committed, accepted or validated to accept either in direct manner or in indirect manner, whether in financial term or not (Austlii, 2018). Furthermore, the workers and managers are not required to take gift, amusement, any type of incentives from the present clients and prospective clients or the dealers if permission is not granted to them for this according to the guideline related to business gifts. The managers and workers of the organisation must be permitted to do this only with a permission of the top level administration (Australian Human Rights Commission, 2018). In addition to this, the workers should not render the services or goods to the customer if this is assumed or alertness of the facts that the proceeds of the similar will be used in direct or indirect way in the criminal or prohibited actions. This is considered as the duty of the workers and managers for reporting to the leader or the proper officials regarding the suspected frauds or the activities related to the corruption taking place in the organisation. It will be in an addition to a persuasive behaviour by the clients or the staff quit from the policies of anti-corruption or policies related to the anti-bribery or methods of an organisation. The collapse to do so will itself be considered as the fraudulent itself (Zgheib, 2014).
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
REPORT8 Dishonest and Fraudulent Behavior According to the code of conduct of National Australia Bank, this organisation never tolerates or sustains the fraudulent behaviour and dishonest behaviour. The dishonest and fraudulent conduct destroystheorganisation’sreputation.Thesekindsofactionsstopthedevelopmentof organisation and can weaken the economical reliability, political constancy and a protection. It can also convey the legal cost and criminal cost for the people involved and an organisation itself (Linn, Smith-Gander and Barrington, 2015). The important approaches and resources to stop dishonest conduct and fraudulent behaviour are for managing alternative and motivating the positive ethical culture at the organisation and to implement the policies, procedures and separation of the duties or roles. For the examples, ethical behaviour to set the standards of conducts, policies of interest conflict to state the dollar inception and prior approval required for the gifts surpassing appropriate values.The other examples are the process regarding whistle-blower for encouraging dishonest and fraudulent incidents reporting and approaches related to the account and expenses that administer the claim. Further, National Australia Bank describe that the employees of organisation mayhave main part to stop the dishonest and fraudulent behaviour and help to decrease the conducts related to fraud in the organisation. It is required by the employees of organisation to have proper understanding in respect of the cost of dishonest and fraudulent behaviour. It is also required by the workers and stakeholders of the organisation to be careful of the liability. It is also essential that the employees should be clear in the attitude in against of the morally wrong conduct and the approaches. The workers of organisation are always required to act in the organisation’s interest. They should never misuse their post in an organisation. The workers of the company should be attentive for the dishonest conduct and fraudulent behaviour.
REPORT9 Whistle blower protections The code of conduct of company expressly restricts the directly or indirectly involvement in illegal exploitation, discrimination, on a line of bullying, the dishonest conduct or fraudulent behaviour and the activities related to corruption. The matter can be in the form of violation of various lawful or administrative needs, procedures or directions of the company. The workers, directors, consultants or the other people, who wish to or attempt for reporting inrelation with illegal exploitation, discrimination, on a line of bullying, the dishonest conduct or fraudulent behaviour and the activities related to corruption, whether namelessly or not, is considered as the whistleblower. This is significant that there is easy and open response in a form of raising the concerned cases, which are of severe significances. Further, the code of conduct specifically will give the security expressly against punishment for having created the said reporting of misconduct. This is a duty of the top level manager to contact with the whistleblower and give proper help to them, in a case where they desire to talk about the matters.On the other hand, the whistleblowers can select to report the misconduct, secretly if chosen. The reporting may be done by calls, posts or the emails of the whistle blowers or the investigation committees (Brown, Lewis, Moberly and Vandekerckhove, 2014). Enforcement The enforcement of the code of conduct of organisation is very compulsory on the going concern basis and the board of company has given the powers to have compulsory actions regarding the breaches, if any. Wrong or the immoral conduct can result in the cooperating of image of the organisation. The exploitation of the authorities and the situation in direct or indirect manner to
REPORT10 the benefits of self or connections or the associates will be considered critically. Therefore, the workers, executives, managers, clients, dealers and the third people should instantly report these problems to the different people according to a process laid down in the whistleblower security section of a code of conduct of organisation (Dakhelalla, 2014). Additionally, the contravention of code of conduct or any of the directions stated within will result in disciplinary actions and the workers will be accountable to the one or more various fines regarding the violation of code of conduct of organisation. These fines may include warning; Withholding of promotion, closure of services, decline to the low grade of service and pay’s revision or maintenance of pay. Also, the organisation may recover from a salary for loss caused to a company because of negligence violation of the code of conduct and the relevant directions and approaches. Conclusion As per the above analysis, it can be concluded thatevery head of department and the senior executives are required to confirm the compliance with the code of conduct of the organisation. The confirmation would be given in the prescribed form on the website of National Australia Bank.
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
REPORT11 References Austlii.(2018)SexDiscriminationAct1984.[online]Available from:http://www5.austlii.edu.au/au/legis/cth/consol_act/sda1984209/index.html[Accessedon 27/04/19]. AustralianHuman RightsCommission. (2018)Workplacediscrimination, harassment and bullying.[online]Availablefrom:https://www.humanrights.gov.au/employers/good-practice- good-business-factsheets/workplace-discrimination-harassment-and-bullying[Accessedon 27/04/19]. Brown,A.J.,Lewis,D.,Moberly,R.andVandekerckhove,W.eds.,(2014)International handbook on whistleblowing research.UK: Edward Elgar Publishing. Cubbage, C. J., and Brooks, D. J. (2016)Corporate Security in the Asia-Pacific Region: Crisis, Crime, Fraud, and Misconduct. United States: CRC Press. Dakhelalla, R.F. (2014)The impact of corporate governance principles on board characteristics: an Australian study. USA: Springer Jayanti, R.K. (2018) SUSTAINABILITY BASED CORPORATE IDENTITY: A STUDY OF CORPORATE WEBSITES.Academy of Marketing Studies Journal,22(3), pp.1-16. Linn, B., Smith-Gander, D., and Barrington, J. (2015) The debate: The year ahead.Company Director,31(11), p.18.
REPORT12 Policy, A. B. and Policy, P. (2017) Code of conduct.Part One of ‘Keeping Children Safe in. Oxford: Oxford University press Reamer, F. G. (2013)Social work values and ethics. United States: Columbia University Press. Vickers, M. H. (2014) Towards reducing the harm: Workplace bullying as workplace corruption —A critical review.Employee Responsibilities and Rights Journal, 26(2), pp. 95-113. Victorian Equal Opportunity & Human Rights Commission. (2018)Discrimination – Workplace. [online]Availablefrom: https://www.humanrightscommission.vic.gov.au/the-workplace/workplace-discrimination [Accessed on 27/04/19]. Watson, G.J., Murray, J.M., Schaefer, M. and Bonner, A. (2015) Successful local marine conservationrequiresappropriateeducationalmethodsandadequateenforcement.Marine Policy,52, pp. 59-67. Zgheib, P. W. ed., (2014)Business ethics and diversity in the modern workplace. United States: IGI Global.