On 6 May 2008, the Woolf Committee published its report on BAE Systems’ ethical business practices and policies, and issued a series of recommendations for making the company a world leader in this field. Recommendations included:
* The adoption of a global code of ethical business conduct, which would apply throughout the company regardless of location, unless local laws require a higher standard.
* The appointment of a senior executive to take responsibility for the implementation of the code. This person would report to the CEO and have direct access to the Chair of the Corporate Responsibility Committee.
* The regular assessment of business conduct, practice and progress by external auditors.
* Enhanced diligence and transparency in the use of agents and in regard to offsets
* The instigation of internal investigations into allegations of unethical behaviour and the disclosure of material findings to the relevant authorities
See full Press Release.
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