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How Do You Develop a World Class Ethics Training Program?

Source: Financial Executives International TV

Bauer Ethics Seminars
Christopher Bauer, PhD, HSP, CFS

Runtime: 8:05

Click here to download video.

Key Takeaways:

  1. Ethics reflect our real values rather than simply what we say our values, rules or behavior are. Those ‘real values’ are what drive our behavior so they must be identified and monitored to reduce risk.
  2. The Association of Certified Fraud Examiners estimates that 5% - 7% of annual revenues are lost each year to fraud & abuse.
  3. Companies with effective ethics training programs reduce fraud loss by as much as 50% creating significant ROI for such programs.
  4. To develop a world class ethics program:
    • Make ethics a focus
    • Define ethics in your organization
    • Train every employee across the organization
    • Emphasize values as well as rules so employees know what to do when there isn’t a rule
    • Develop a culture of ethics
  5. Highly ethical companies:
    • Develop values-driven management initiatives
    • Identify & mitigate organizational values/pressures that can foster unethical behavior

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