The Institute of Directors (IoD) has released a consultation document proposing a new voluntary code of conduct for directors. This initiative aims to help directors and business leaders enhance public trust in their business practices as a response to recent corporate scandals like the Post Office case, which have significantly eroded public confidence in business leadership.

The code of conduct revolves around six fundamental principles: leading by example, integrity, transparency, accountability, fairness, and responsible business.

Given that the code is voluntary and lacks enforcement mechanisms, there are concerns about its effectiveness and the level of adoption it will achieve.

The IoD is seeking feedback from both the business community and the general public.

For more details, to respond, and to read the full consultation document, visit – https://www.iod.com/resources/governance/iod-public-consultation-on-a-code-of-conduct-for-directors/