Question

Who is responsible for developing/writing the code of ethics? How are these codes monitored for compliance? Should compliance training be required?

Answer 1

Answer: In an organization it is mostly the ethics committee or the top management along with board of directors that develop the code of ethics. This practice may differ from one organization to the other. In most of the organizations ethics committee is responsible for the monitoring of the compliance of the code of ethics. There are different members in the committee that look after the ethical compliance in the company. But at the same time it is also the responsibility of the different level of management to monitor the compliance with code of ethics inside the organization. Compliance training is essential for ensuring the compliance with the code of ethics. Compliance with ethics is a complex process and requires that the people monitoring the same are well equipped with the proper monitoring skills. Hence there is a need that the compliance training is provided inside the organization.