IoD Code of Conduct Public consultation
On 6 June 2024 the IoD published a consultation document on a Code of Conduct for Directors. Produced by a commission chaired by Lord McNicol of West Kilbride and supported by BDO, it aims to provide a behavioural framework for directors to help build trust in UK business.
The Code represents a voluntary commitment and is not intended to hold back directors or create a new burden of compliance. The six key 'Principles of Director Conduct' are:
- Leading by Example – demonstrating exemplary standards of behaviour in personal conduct and decision-making.
- Integrity – acting with honesty, adhering to strong ethical values, and doing the right thing.
- Transparency – communicating, acting and making decisions openly, honestly and clearly.
- Accountability – taking personal responsibility for actions and their consequences.
- Fairness – treating people equitably, without discrimination or bias.
- Responsible Business – integrating ethical and sustainable practices into business decisions, taking into account societal and environmental impacts.
Read the consultation document here: IoD public consultation on a Code of Conduct for Directors | Institute of Directors
We invite the business community and the general public to attend this 1-hour session to learn more about the Code of Conduct and have the opportunity to share your views as part of the public consultation process.
Speakers
Deshpal Panesar KC, Barrister
Deshpal Panesar is a barrister and member of the Bar Council, the former Chair of Employment Law Bar Association, Chair of the EAT user group, and a member of ELBA, the ELA and ILS.
Deshpal is a specialist in Employment Law and works at the forefront of employment and discrimination litigation. Deshpal regularly acts in complex, high value claims and has a heavy successful appellate practice.
Dr Roger Barker, IoD
Roger has been the IoD’s Director of Policy and Corporate Governance since September 2020. He also served as Director of Corporate Governance and Professional Standards at the IoD from 2008-2016. He is honorary associate at the Centre for Ethics and Law at University College London and was previously managing director of Governomics Ltd, a corporate governance advisory firm. He is also the author of numerous books and articles on corporate governance and board effectiveness.
Liz Barclay, Small Business Commissioner UK
Liz has been the UK’s Small Business Commissioner for the past 3 years. She was previously a small business, personal finance and consumer affairs broadcaster, journalist, writer and author, and is a communications skills coach, and international and national conference speaker and facilitator. Liz also has a wealth of experience as a chair and NED on boards in the private and charity sectors.
Paul Hockley, BDO
Paul is a Director within BDO's Ethics & Compliance (E&C) service line and focuses on helping businesses build and embed E&C frameworks and managing and mitigating E&C risks. Paul has been a practising solicitor for 25 years and is a former Army Officer and in house legal counsel with the Home Office. Prior to joining BDO Paul held senior roles in E&C with Serco, Centrica and most recently as the Group Head of Ethics & Compliance at Mott MacDonald.
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