Developing a Standard Code of Ethics The ethical standard represents a part of philosophy that deals with moral conduct and the value system that evaluates what actions are right or wrong. Likewise, ethical standards are guidelines of conduct accepted and valued by society or a specific group that include areas such as business, healthcare, spiritual, educational, and personal ethics. Most “code of ethics” are established as principles established by an organization or individual that state the standards and perspectives that will govern their behavior. The “code of ethics” provides a framework for consideration of ethical responsibility at both a personal and professional level. The main difference between the personal “code of ethics” and the professional “code of ethics” is that the personal “code of ethics” is based on individual value, while the professional “code of ethics” is based on a collective standard imposed by an organization to the stakeholder involved. Many organizations develop their own “code of ethics,” however, an event occurred that led Congress to enact certain laws that addressed ethical issues. An example of this type of law was the “Federal Sentencing Guidelines for Organizations (FSGO),” passed by Congress in the early 1990s. The “Federal Sentencing Guidelines for Organizations (FSGO),” promulgated in November 1991, established characteristics for organizational ethics compliance programs. The procedures were based on the “six principles of DII,” creating a new method for addressing misconduct by codifying into law incentives that encourage organizations to engage in misconduct prevention (Ferrell et al., 2013). Organizations achieve this by developing applicable internal laws and et...... middle of paper ...... Ethics, 113(2), 317-331. Doi: http://dx.doi.org/10.1007/s10551-012-1306-6Ncube, LB and Wasburn, MH (2006) Strategic collaboration for ethical leadership: a mentoring framework for business and organizational decision making. Journal of Leadership and Organizational Studies, 13(1), 77-92. Retrieved from http://search.proquest.com/docview/203143075?accountid=32521Orin, R. M. (2008). Ethical guidance and constraints under the Sarbanes-Oxley Act of 2002. Journal of Accounting, Auditing & Finance, 23(1), 141-171.Rutherford, M.A., Parks, L., Cavazos, D.E., & White, C.D. (2012 ). Business ethics as a required course: Investigating factors that influence the decision to require ethics in the undergraduate business curriculum. Academy of Management Learning & Education, 11(2), 174. Retrieved from http://search.proquest.com/docview/1033316250?accountid=32521