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103 (a)
 
Yes 
No 
Openness 

Honesty 

Accountability 

Integrity 

Objectivity 

Accountability refers to whether an organisation is responsible for the consequences of 
their actions and this is very much to the point in this case. 
Openness means disclosing relevant information which may affect decisions to 
stakeholders. If TUV decide to incur the costs of a clean up, then this concept may come 
into play later.
Honesty means not only telling the truth but also not misleading stakeholders. Again this 
concept may come into play at a later stage. 
Integrity means straightforward dealing and completeness, so this is an issue here. 
Objectivity means that all choices are made purely on merit.
(b) Self-interest 
threat 
The self-interest threat may arise because the director's wife is on the Board of the 
supplier. This may lead to contracts being made with her firm regardless of which supplier 
would actually be better for the business. 
(Chapter 19) 
104 A list of the laws and regulations that apply to the company
Although a corporate code of ethics may refer to applicable laws and regulations, it would not 
necessarily list all those that the company has to comply with. Corporate codes of ethics usually 
represent statements of standards relating to a range of stakeholders – customers, shareholders, 
employees, suppliers, local communities etc 
(Chapter 19) 
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Bibliography
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BIBLIOGRAPHY 
 
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