Inquiry in to Shell Company's Code of Ethics

Topics: Ethics, Virtue, Virtue ethics Pages: 8 (2687 words) Published: October 20, 2012
Inquiry into Shell Company’s Code of Ethics
PHL 323 – Introduction to Business Ethics
Christine Morrow
September 9, 2012
Sabrina Hunter
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Inquiry into Shell Company’s Code of Ethics
Intended Persons and Specific Purposes Shell Company Code of Ethics Was Intended For Intended Purposes
This particular company’s code of ethics was created for a couple of very specific reasons, and is intended to be adhered by specific individuals that are actually listed by position or job title in the document itself. According to “Shell’s Code of Ethics”(1976), “this code is specifically intended to meet the requirements of Section 406 of the Sarbanes Oxley Act and the listing requirements of the New York Stock Exchange by providing for a number of implementing requirements in the area of disclosure controls and the avoidance of conflicts of interest by the category of job holders and persons referred to in this document” (para 2). The previously quoted material explains the specific reasons the Shell Company implemented their version of the Code of Ethics, but it doesn’t specify the persons intended to adhere to these ethical standards. The document itself lists out, one by one, the persons, positions, or job titles that are expected to follow these ethical procedures. What is the nature of th company? What is the mission statement? Intended Persons and/or Job Titles

According to the “”Shell Company’s Code of Ethics,” (1976), “this code is applicable to the following job holders and persons: the Executive Director of Royal Dutch Shell, the Chief Financial Officer, the Executive Vice President – Controller, the Executive Vice President – Treasury and Corporate Finance, the Chief Internal Auditor, the Executive Vice President – Taxation, the Executive Vice President – Investor Relations, the Executive Vice President – Strategy and Planning, the Executive Vice President – Finance Trading, the Executive Vice President – Finance Operations, the Executive Vice Presidents – Finance of Upstream International, Upstream Americas, Downstream and Projects & Technology, and any person or job holder designated by the Chief Financial Officer (a register of such designated persons will be maintained by the Company Secretary)”(para 3). The document goes on to inform the reader of said document “that from here on out the document will refer to the previously mentioned persons or job holders as COE Addressees” (“Shell Code of Ethics”, 1976).This assignment does not request this information. What is the ethics system at Shell? Requirements Intended to Meet

This concludes the parties to which this document was intended, and the specific purposes this document was intended to fulfill, but leaves out one other very important factor. In the code of ethics itself, it states that it was intended to meet the requirements of two separate items: the requirements of the Section 406 of the Sarbanes Oxley Act, and the listing requirements of the New York Stock Exchange. I believe that a person reading this inquiry may not have the sufficient knowledge of either/or the aforementioned documents, and will give a brief description of each said item. This paper does not require requirements intended to meet. It asks how the code of ethics is used in this organization. I do not see this information. Sarbanes Oxley Act and Listing Requirements of New York Stock Exchange Sarbanes Oxley Act

The first item I will briefly go over is the Sarbanes Oxley Act. According to the “U.S. Securities and Exchange Commission” (2003), this document calls for two new types of disclosures to go into effect: the first is a disclosure that “requires a company to disclose whether or not it has at least one audit committee financial expert, and if so, the name...
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