Financial decision-makers are bound to specific standards of ethical behavior. The standards of financial decision-makers are dictated in large part by the Sarbanes-Oxley Act (SOX), which came about after the Enron debacle. These standards were put into place to allow investors to feel secure in the knowledge that the numbers they are reviewing are true and correct, containing no falsehoods. Honesty, integrity, ethical conduct, timely disclosure, and compliance with government rules and regulations are all traits of the person in the position of making financial decisions.
This paper will address the finance code of conduct as outlined by Xerox Corporation. Xerox’s ethical code of conduct states that “Senior Financial Management, Financial Management and Finance Staff must meet the highest levels of honesty, integrity, objectivity and independence and comply with all relevant laws, governmental regulations, corporate policies, ethics requirements and professional standards. Additionally Senior Financial Management and Financial Management must also have leadership responsibilities that include creating a culture of high ethical standards and a commitment to compliance; maintaining a work environment that encourages employees to raise concerns; and promptly address employee compliance concerns” (Xerox, 1999-2008, p. 1).
This statement clearly states the corporation’s standards. One of the main points in my mind is the avoidance of a conflict of interest, such as personal interests interfering with financial decision-makers’ responsibilities or company interests. Even the appearance of a conflict of interest is not allowed. The acceptance of payment, gifts, or special considerations from any customer of supplier could be construed as a form of bribery and is ...