Ethics & Compliance Paper

1670 words - 7 pages

Lowe's Companies, Inc. has been helping our customers improve the places they call home for more than 60 years. Lowe's operates more than 1,675 stores in the United States and Canada. In 2008, Lowe's earned several notable industry distinctions, including ranked 47 on the FORTUNE® 500 and the EPA & U.S. Department of Energy ENERGY STAR® Award has been given to Lowe's seven consecutive years for promoting products that meet the highest energy and water efficiency standards. In order for Lowe's to be successful for the past 63 years, it has been critical for them to maintain high ethical standards, comply with the SEC, and monitor their financial performance.Lowe's Companies, Inc. has established a code of business conduct and ethics manual that must be adhered to by all employees and management. Lowe's code of conduct and ethical rules are available at http://investor.shareholder.com/lowes. The major highlights of the code of conduct and ethical rules are listed below.1.Compliance with Laws and Regulations: this point stresses that its employees should always act on the behalf of what is legal and morally correct.2.Conflicts of Interests: Avoiding conflicts of interest means that an employee should not request or accept gifts, gift certificates, discounts, gratuities or other items of value (including services) from any of Lowe's vendors or service providers.3.Fair Dealing: Employees should not seek to obtain any advantage for the company by manipulating or misrepresenting material facts or otherwise acting illegally, unfairly, dishonestly or unethically.4.Corporate Opportunities and Loyalty: Employees are prohibited from competing with Lowe's or taking for themselves opportunities that properly belong to Lowe's or are discovered through Lowe's employment.5.Confidential Information: Confidential information relating to Lowe's business such as customer, budget, financial, credit, marketing, pricing, supply cost, personnel, medical records and salary information cannot be shared.6.Payments to Government officials: The U.S. Foreign Corrupt Practices Act prohibits giving anything of value, directly or indirectly, to foreign government officials or foreign political candidates in order to obtain or retain business.7.Importance of accurate books and records: All books, records, accounts that are the building blocks of Lowe's external financial reporting must be reasonably detailed, must accurately reflect transactions and events and must conform to applicable legal and accounting requirements.8.Protection and Proper use of Company Assets: Employees should protect Lowe's assets and ensure their efficient use. Company assets may only be used for legitimate business purposes9.Public Company Reporting: It is illegal for any Employee to take any action to fraudulently influence any auditor engaged in the performance of an audit or review of Lowe's financial statements.10.Insider Trading: Do not transact in the securities of Lowe's Companies, Inc....

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