Code of Ethics

Paper Summary:

In this article, the writer discusses that the corporate code of ethics in the form of policies promotes proper corporate governance and stewardship. The writer points out that the CIGNA Code of Ethics and Compliance Policies is an example of a policy document that incorporates guidelines, rules and regulations. Further, the writer explains that this document defines a scope and limitations and includes a clear statement of understanding, which is really a "no escape clause" implicitly and explicitly stating that all reasonable declarations and reminders are in the code ethics. The writer concludes that by following the form and substance of the code of ethics, CIGNA's code could be a model for other companies to follow.

From the Paper:

"Policies, in general, are high-level statements of goals, objectives, beliefs and ethics that are higher management's directions indicating mandatory action and compliance corporate-wide; they are means of addressing and/or averting problems. But policies are not enough to ensure compliance since it should be released with guidelines and implementing rules and regulations to enable the recipients or readers of the policies to know and determine the actions required of them to abide by the policies. Policies, guidelines, rules and regulations may be in separate documents or consolidated in a single document."

Sample of Sources Used:

• CIGNA Corporation. (2006). CIGNA code of ethics and compliance policies. Retrieved 21 June 2006 from the CIGNA Corporation Website: http://www.cigna.com/general/about/governance/cigna_code_ethics.pdf
• Gilman, Stuart C. (2002, March 18). Why wasn't Enron's code of conduct enough? Why is auditor independence critical for a free market? Retrieved 21 June 2006 from the Ethics Resource Center (ERC) Website: http://www.ethics.org/nr0318enron.html
• MacDonald, Chris. (2006). Why have a code of ethics? Guidance for writing a code of ethics. Retrieved 21 June 2006 from the EthicsWeb Website: http://www.ethicsweb.ca/codes/coe2.htm
• Von Baeyer, Cornelius. (1999, May 13). Codes of conduct: panacea or bunk? Retrieved 21 June 2006 from the Workplace Ethics website: http://www.workplaceethics.ca/codes.html

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