Establish Policies, Procedures and Controls
Establish policies ,procedures and Controls
Organizations are urged to develop standards ,procedures and controls to prevent and detetect unethical conduct .The standards and procedures should be clearly written to make employeees having a full understanding of the key ethical issues and their consequences .This could reduce the likelihood of misconduct behavior of employee and third parties .Most organizations make their policies more memorable by using some real life examples and question &answers section .To the high risk employees ,more detailed policies and procedures could be provided to reduce the possible occuring incidents.

Exercise oversight
In order to facilitate the ethic policy ,the organization must have a strong leader .High level indivduals are designated to oversee the all aspects of the ethic policy .People who oversee must be knowledgeable of the general policy .Importantly ,organizations must involve multiple layers of management in the ethic enhancing process with the goal of ensuring the effectiveness.Board of directors and senior management set a tone at the top and provide the ethic policy with certain information and resources .

Exercise due deligence
For many organizations ,the biggest area of vulnerability lies in their relationships with the third party intermediaries .Organizations must use their best efforts to avoid delegating authority to individuals with a history of taking part in illegal activities which are inconsistent with the ethic policy .Firms should have a clear understanding of the relationships between its various business partners through evaluating and monitoring the ongoing activities in related high risk areas.

Commuicate and educate employees
In addition to developing and distributting the code of conduct ,employees must understand it .The organization

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Ethic Policy And Third Parties. (July 16, 2021). Retrieved from https://www.freeessays.education/ethic-policy-and-third-parties-essay/