Reputational Risk and Code of Conduct
Managing reputational risk effectively is essential for organizations. In the current business environment, there is a heightened potential to adversely impact the perception of stakeholders and the public. This sentiment is a concern shared globally as reflected in the following excerpt from the 2017 IIA International Conference, “damage to reputation is perceived as the number one of the top ten risks faced by any organization. It takes many years to build a reputation but minutes to destroy .”The management of reputational risk falls squarely under good governance and can be mitigated by policies and procedures such as a Code of Conduct. This session explores, what would constitute a good code of conduct and how internal auditors can assess its effectiveness. Insight will also be shared as to other controls that support the code of conduct, such as a whistleblowing program.