Review of Ernst & Young's Global Code of Conduct and Business Ethics

This report examines Ernst & Young's global code of conduct, highlighting the company's commitment to ethical practices and corporate social responsibility. It identifies core values such as integrity, respect, and honesty as foundational elements of the code. The analysis extends to the development of a global code of conduct, emphasizing the inclusion of elements like a chairperson's message, objectives, scope, expectations, and penalties for breaches. The report further addresses unfair practices such as money laundering, bribery, and nepotism, proposing measures like a multi-level interview process to prevent favoritism. Ultimately, the report underscores the importance of a carefully developed global code of conduct in guiding an organization's operations. Desklib provides a platform to access similar solved assignments.

Management
Running head: Professional Ethics 0
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Professional Ethics 1
Business Ethics is an important area of study for every organization as the same effect the
sale and public relation of the organization. Different companies have different values and
principle on the topic of corporate social responsibility. The organization selected for the purpose
of this report is Ernst & Young, which is a multinational company and provide professional
services (Aiello, 2014).
The company believes in following ethical practices and therefore developed the global
code of conduct. This code provides a guideline of ethical conduct. These guidelines are
categorized into five categories. By reviewing the global code of conduct of the company, it is
clear that the company consider the interest of every stakeholder. Further, this code gives the
lesson that every company should respect the intellectual capital. Personal leadership is a great
support that enhances the ethics in business operations. Working with one another is the most
important principle of this code. This gives a lesson that everyone is important (Assets.ey.com,
2019). In addition to organizational development, the company also relies on the personal
development of employees. Further, the code states that for the company, ethics comes first. No
external relationship is more important than the reputation and integrity of the company. At last,
the company focuses on professional integrity and gives a lesson that while performing duties
one should always adhere to ethics.
Development of Global Code of Conduct: - In order to develop a global code of conduct,
the first important thing to consider is the values of the organization. Values provide the
perception of management. Many of the factors are there which should be included in the global
code of conduct of an organization. Following are some of the core values that would be
included:;-

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 Integrity
 Respect
 Honesty
 Enthusiasm and energy
 Consistency
 Reliability and Optimism
In addition to these values, other elements, which will be a part of such code, are the
message of chairperson, objective, scope, and expectations. In addition to this, the penalties in
cases of breach will also be included in the code itself. Further, the focus would be made on
unfair practices such as Money laundering, bribery, corruption, unfair dismissal, and other
disciplinary actions. The code will state the manner to deal with such adverse practices. To
prevent unfair practices such as gift, the code would mark a prohibition on the acceptance of any
gift and will also impose the penalty for doing so.
On the other side, to stop insider trading, the code will provide the provisions related to
the closure of the trading window. To prevent the abuse of social media, the code will state the
limited uses for which employees will use the same. Nepotism is another serious issue for the
organization these days. Nepotism at the workplace is an activity where a person in power
appoints his/her relatives to the other positions (Businessdictionary.com, 2019). The code will
also address this issue. To stop favoritism at the workplaces, the code would impose the 3 level
interview process which will stop entering the unprofessional or unskilled workforce.
In a conclusive way, this is to state that a global code of conduct provides the way of
working to an organization and should be developed carefully.

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References
Aiello, L., (2014). Handbook of Research on Management of Cultural Products: E-Relationship
Marketing and Accessibility Perspectives. PA: IGI Global.
Assets.ey.com. (2019). Global Code of Conduct. Retrieved From:
https://assets.ey.com/content/dam/ey-sites/ey-com/en_gl/generic/EY_Code_of_Conduct.
pdf
Businessdictionary.com. (2019). Nepotism. Retrieved From:
http://www.businessdictionary.com/definition/nepotism.html