ACE group sets up ethics hotline
#1
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ACE group sets up ethics hotline
From the Daily:
The ACE group of companies will start an ethics reporting hotline April 1 to encourage employees to report financial wrongdoing and workplace fraud, theft, conflict of interest and other unethical financial behaviour. The program will provide employees with an easy-to-use, confidential and anonymous tool to report unethical financial behaviour. Starting April 1, reports can be made on www.clearviewconnects.com, or by calling toll-free 1-800-840-1809 within Canada and the U.S. For hotline numbers outside of Canada and the U.S., and for more information about the program, click on the link on the Aeronet homepage.
The ACE group of companies will start an ethics reporting hotline April 1 to encourage employees to report financial wrongdoing and workplace fraud, theft, conflict of interest and other unethical financial behaviour. The program will provide employees with an easy-to-use, confidential and anonymous tool to report unethical financial behaviour. Starting April 1, reports can be made on www.clearviewconnects.com, or by calling toll-free 1-800-840-1809 within Canada and the U.S. For hotline numbers outside of Canada and the U.S., and for more information about the program, click on the link on the Aeronet homepage.
#7
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Originally Posted by tcook052
Intersting notion, airline executives with ethics. Wonder if WS starting a similiar toll-free hotline.
Where do you get the impression this is targeting executives?
My guess is, it's the opposite: that this will be used lower down the totem pole while executives will be left alone. Executives, ethics? Isn't that the oxymoron of the day? Why do we have lawyers? To tell us how far we can go and still get away with it. All for the benefit of the corporation, of course, which is the ultimate (ethical) "good," the ultimate justification for trying to get away with anything. Business "ethics" in a nutshell.
Also, not sure opening a line to denonciation of your colleagues will be all that good for employee morale though?
#9
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Originally Posted by pitz
Why don't we have Sarbanes-Oxley like legislation in Canada?
#10
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Originally Posted by mtacchi
I'd like to report all the times I have the FA's in J steal the Extra chocolates off the trays and put them in their bags. J pax would certainly enjoy eating them,,,
#11
Join Date: Oct 2003
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Originally Posted by YOWkid
Why limit to unethical financial behaviour? Why not anything unethical, such as poor decision making?
#12
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Originally Posted by yycguy2
We do, It's OSC Bill 198 but it is only starting to be implemented this year. SOX legislation also has a requirement for foreign filers (which AC may be one) but that has been extended to July 2006 from July 2005.
Bill 198 is only part of the solution. In short order Canada will have full equivalency with US Sarbanes Oxley Act. Multi-lateral Instrument 52-111 will be the equivalent term and is required for all Toronto listed clients. The start date is staggered and based upon market capitalization. Companies with a market capitalization over $500 million must report in fiscal 2006. There is currently no S-Ox type requirement for Venture listed companies. The Canadian S-Ox rules will be finalized in June 2005 and go into immediate effect. Companies with non December filing deadlines with a fiscal year end in the later half of year (such as Shaw Cable and the major Banks) will be among the first to report under Canadian Rules.
In what is a big twist for ACE, they will lilely not have to report under Canadian Rules for S-Ox. The 52-111 rules have an exemption for companies who must report under S-Ox, so ACE will not have to file with Toronto but will report to New York.
#13
Join Date: Apr 2004
Posts: 221
Originally Posted by Stranger
Where do you get the impression this is targeting executives?
My guess is, it's the opposite: that this will be used lower down the totem pole while executives will be left alone. Executives, ethics? Isn't that the oxymoron of the day? Why do we have lawyers? To tell us how far we can go and still get away with it. All for the benefit of the corporation, of course, which is the ultimate (ethical) "good," the ultimate justification for trying to get away with anything. Business "ethics" in a nutshell.
Also, not sure opening a line to denonciation of your colleagues will be all that good for employee morale though?
My guess is, it's the opposite: that this will be used lower down the totem pole while executives will be left alone. Executives, ethics? Isn't that the oxymoron of the day? Why do we have lawyers? To tell us how far we can go and still get away with it. All for the benefit of the corporation, of course, which is the ultimate (ethical) "good," the ultimate justification for trying to get away with anything. Business "ethics" in a nutshell.
Also, not sure opening a line to denonciation of your colleagues will be all that good for employee morale though?
I do hope my former colleagues enjoy the surprise party I've so carefully planned for them. It seems I've been missing a lot while working so hard on preparing and mailing the invitations....
#14
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Originally Posted by the happy booker
to the broad at the top
Simon
#15
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Originally Posted by yycguy2
How do you prove a poor decision is unethical vs. just plain stupid? Just leave it to good old capitalism to take care of them. The markets are pretty good at punishing public companies that make stupid decisions and private ones, like say Jetsgo, require consumers to have confidence in their products to stay in business.
Is that not unethical?