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Write 6 pages thesis on the topic definition and requirements for code of ethics under sox.
Write 6 pages thesis on the topic definition and requirements for code of ethics under sox. The section outlines code of ethics as Standard that promote: (gsm, 2008)
Wal-Mart’s code of ethics includes their responsibilities towards shareholders including duties to shareholders, financial integrity, conflict of interest, policies on gifts and gratuities, trade secrets, insider dealings, Wal-Mart Assets as well as media statements. Further, the code of ethics includes responsibilities of Wal-Mart towards their fellow associates and finally their responsibilities towards their customers, suppliers, government, and communities.
I believe that code includes more or less all the requirements under the SOX since it is detailed in outlining the honest and ethical conduct of the Wal-Mart including its insider trading, its relationships with the associates, their responsibility towards the government in filing the various reports besides abiding the laws and finally the accountability policies.
I believe that if Wal-Mart needs to do business globally, it needs to incorporate the cultural challenges it will face regarding its association with its employees. What is missing in the code of conduct for Wal-Mart is the non-awareness of the various cultural aspects of doing business globally as it fails to clearly outline how the employees in an international business setting will be dealt with.
The code first outlines the various positions to which it applies and it includes the association of ethical responsibilities to the Chief Executive Officer, Chief Financial Officer, and other executives of the group. It binds that all of the people under the code of ethics to act in accordance with the highest standards of honesty, integrity, and fairness besides discussing the situations where the addressee must excuse himself or themself from falling into a situation that can create a conflict of interest. On the whole, the code includes almost all the requirements required under SOX to be adopted by the companies.
Though the code is a bit short however it is adequate according to the SOX requirements.
