The Institute of Directors (IoD) have published a consultation document on a code of conduct for directors.
The new code would be voluntary and is designed to help directors and business leaders build trust from the public in their business activities. It has been prompted by recent corporate scandals, such as the Post Office, that have had a wider impact on the public losing trust in business leaders.
The code of conduct is centred around six key principles: Leading by example, Integrity, Transparency, Accountability, Fairness and Responsible Business.
Because the code is voluntary and contains no means of enforcement, questions have been raised over how useful this code will be and what the take up is likely to be.
The IoD is looking for views from both the business community and the general public.
For more information and to respond and read the full consultation document, see: https://www.iod.com/resources/governance/iod-public-consultation-on-a-code-of-conduct-for-directors/
At Autumn Budget 2024, we were promised a consultation on the tax treatment of predevelopment costs. However, following the Court of Appeal’s decision on a recent case, the government is postponing publication of the consultation while it considers the implications of the decision.
Amidst all the news about increased tariffs in the US, the UK government has announced a cut to zero in import tariffs on a range of 89 foreign products.