A set of standards for professional behavior. Since the 2002 Sarbanes-Oxley legislation, a publicly held company is required to create its own code of ethics to deter wrongdoing and to promote ethical behavior. A code of ethics also should outline potential conflicts of interest for company employees and board of directors. A code of ethics also would call for the company to disclose potential conflicts of interest or waivers from the code of ethics.
code of ethics
The definition of code of ethics is a standard of morals by which a group makes decisions about what is right or wrong.
An example of code of ethics is a set of values listed in a company's mission statement.