What is a Code of Conduct?

A code of conduct is a formal expression of the organisation’s values and ethics. A code of conduct should:

* guide directors and employees as to the practices necessary to maintain confidence in the organisation’s integrity;

* promote responsibility and accountability of individuals for reporting and investigating reports of unethical practices; and

* ensure compliance with legal and other obligations to legitimate stakeholders.

How do policies relate to a Code of Conduct?

The board is responsible for setting guidelines for the company's business and provide guidance to directors, management and employees through formal policies to help them act within the law and company values. These policies should incorporate the standard of ethical behaviour described in the Code of Conduct. The Board may decide to implement policies on issues such as conflicts of interest, insider trading, political contributions and the improper use of company information as well as regulatory requirements.