1. It's the law
- Sarbanes-Oxley Act of 2002 (SOX) requirements for public companies
- NASDAQ/NYSE requirements for listed companies
- Federal Acquisition Regulation (FAR) requirements for government contractors
2. It protects your organization
- Criminal liability reduced per Organizational Sentencing Guidelines
- Consider law doctrine of respondeat superior
- Department of Justice (DOJ) and decisions of prosecution
3. It's good for your business
- Secure top company performance
- Recruit and retain good employees
- Maintain high employee morale and productivity
- Deter and detect fraud
- Promote a positive reputation and long-term success
4. It's a foundation of internal controls
5. It's a core part of Corporate Social Responsibility (CSR)
6. It's a core part of Governance, Risk Management, Compliance (GRC)
7. It's promoted across industries
- Hospitals (HHS OIG's CPG)
- Nonprofits (IRS Corporate Governance Guide)
- Government (Federal, state, local statutes and policies)
- Schools (Clery Act)
- Banks (FDIC Guidance Letter)
More: http://ethicallymanaged.org/whybecomeethicallymanaged.html