Fall 2015 Issue of Horizons

∙ There has to be compliance and oversight mechanisms in place to enforce the standards within an organization. These mechanisms can take a variety of forms but should include requirements that personnel periodically review and sign off that they’ve reviewed and agree to comply with:

Finally, the infrastructure created to build and maintain an ethical culture should not be static. It should be revisited periodically to ensure that it is working as envisioned and is still current and relevant. A strong ethical culture that permeates an organization from top to bottom is truly an asset for those organizations that embrace and promote ethical behavior. It can significantly reduce risks within organizations by reducing the likelihood of financial reporting fraud, asset misappropriation and reputational and brand damage.

– Standards and policies and procedures

– Confidential or anonymous processes for reporting violations of standards

– Periodic evaluations of the organization’s ethical culture

– Systems to discipline violations of the standards

RubinBrown’s Life Sciences & Technology Services Group RubinBrown Life Sciences & Technology Services Group works with local, national and international companies to help improve their financial position and provide superior accounting, tax and business advisory services.

Jason Mannello, CFA, CLP — St. Louis Manager-In-Charge Life Sciences & Technology Services Group 314.290.3216 jason.mannello@rubinbrown.com

Chester Moyer, CPA — Kansas City Partner Life Sciences & Technology Services Group 913.499.4445 chester.moyer@rubinbrown.com

Felicia Malter, CPA, CGMA — St. Louis Partner & Vice Chair Life Sciences & Technology Services Group 314.290.3249 felicia.malter@rubinbrown.com

Rodney Rice, CPA, CGMA — Denver Partner Life Sciences & Technology Services Group 303.952.1233 rodney.rice@rubinbrown.com

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