The Right Thing
Our Values: Ethics & Compliance
With integrity as the first of our shared values, ethics is the foundation upon which everything else depends. The shared values and global Ethical Principles that govern our daily business activities and relationships are clearly outlined in the Code of Ethics and Professional Conduct and are an integral part of Deloitte's commitment to sustaining the public trust.
As we ended fiscal 2009, we began the roll-out of the Power of One campaign. The new messaging cascaded from the CEO throughout all levels of leadership.
The Power of One
Today there are twice as many people in the world as fifty years ago, yet, rather than a dilution of power and influence, the potential impact of our individual actions is enormous. Anything we say, do, post, or email may be moments away from worldwide distribution.
In a world where reputations can be damaged with a sound bite or mouse click, this technology-driven phenomenon poses distinct new professional challenges. We're an organization of 45,000 people, but our reputation as a whole is a responsibility that each of us has as individuals. That's the Power of One.
Under The Power of One banner, mandatory training was rolled out organization-wide to help our people understand the professional responsibility and attention to detail required when completing one's Representation on Independence and Ethics and Compliance. It also details the definition of non-public information and other considerations related to potential insider trading risk.
The future depends on how responsible we are today and how responsible our young people will be tomorrow. We strive to positively influence both timeframes by actively supporting the integration of ethics into curriculums from high school through college. Our partners continue to participate as judges in the Junior Achievement annual essay contest and assist in the development and analysis of the annual Deloitte and Junior Achievement teen ethics survey.
Leaders as high as our Chairman of the Board and CEO present regularly at university settings. And we're the proud founding sponsor of the Center for Professional Responsibility in Business and Society at the University of Illinois, Champagne-Urbana. We see its mission as twofold. First, by tracking the emerging issues and trends that affect the role of the business professional, the center will help leaders be better prepared to guide their respective organizations. Second, the center will support the academic community in developing relevant curricula to nurture future business managers who have the skills to make wiser decisions in our complex world.
There is no part of Deloitte that is not touched by ethical considerations. Administered by a third-party, the Integrity Helpline is available 24/7 for assistance or to report a potential ethics violation. And Dr. Dilemma is always in, through periodic columns, to answer questions reflecting nuanced, real-life situations that aren't often found in textbooks.
During 2009, the ethics team was instrumental in developing our Chairman of the Board's Deloitte LLP Ethics & Workplace survey on the reputational risk associated with social networking. As stated in the summary (link in "Want to know more?"), 60 percent of business executives believe they have a right to know how employees portray themselves and their organizations in online social networks. However, employees disagree, as more than half (53 percent) say their social networking pages are not an employer's concern. This fact is especially true among younger workers, with 63 percent of 18–34 year old respondents stating employers have no business monitoring their online activity.
Recognition for ethics and compliance communications was realized by receiving the 2009 Gold Sabre Award for our "Simple Habits, Big Benefits" campaign.
Greening Ethics Training
As the organization moved to an online format for more of our on-boarding process, the Deloitte Code of Ethics and Professional Conduct was converted to an interactive online experience. Further, we are in the process of transitioning our classroom Ethics in Action training into a virtual setting so that we can make scheduling more flexible as well as to be sensitive to cost considerations. Importantly, we are also recruiting our own partners, principals, directors, and senior managers to facilitate the sessions, thereby creating subject matter experts who can serve as ethics "ambassadors" in the field with our staff.
Deloitte will continue to face a highly regulated environment where professionals must be vigilant about maintaining their independence, objectivity and integrity. Accordingly, our focus will continue to be on each individual's responsibility to meet compliance requirements and maintain integrity in all that is done.