Magazine article Financial Management (UK)

From the Blogs: Pledging to Abide by Ethical Code

Magazine article Financial Management (UK)

From the Blogs: Pledging to Abide by Ethical Code

Article excerpt

The launch of the CGMA report, "Managing responsible business--a global survey on business ethics", took place in Malaysia earlier this year. Joining the likes of AirAsia, Tesco Malaysia, Google Malaysia and Shell Malaysia, CIMA SE Asia signed a Corporate Integrity Pledge to signify its commitment towards creating a business environment that is fair, transparent and free from corruption.

To date, more than 50 organisations in Malaysia have signed the pledge. The Corporate Integrity Pledge is an initiative of the Malaysian Institute of Integrity (IIM), which is aligned with the objective of fighting corruption under the Government Transformation Programme of Malaysia.

CIMA is proud to be engaged with this initiative as ethics is high on its agenda. Plans are under way to work closely with the IIM to fly the ethics flag even higher.

Such initiatives and activities to promote corporate ethics and fight corruption are growing globally as ethics rises up the business agenda. This was reflected by the findings of the CGMA survey. As we summarise in the report's accompanying video, an average 80 per cent or organisations surveyed worldwide had a company code of ethics. Yet our findings also showed that in a number of markets there were specific challenges.

As many as one in three of our members and students could be under pressure to compromise ethical standards at some point. So there is still so much organisations need to do to support ethical conduct in their operations and fill the rhetoric versus reality gap. …

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