FINANCE: Research looks at how firms can deal with ethical risks

The ethical investment research service EIRIS has published a new study into how major companies deal with social, environmental and ethical risk.

The research covers methods of managing risk, including policies and procedures, regular assessment, internal audit and external verification.

"Recent corporate governance scandals such as Enron and WorldCom have increased investors' attention on corporate social, environmental and ethical risk. (This has happened) not just in terms of policies but in relation to the effectiveness of companies' management systems for ensuring that such policies are implemented throughout the organisation," said EIRIS's senior researcher in corporate governance David Tozer.

The research is part of a project which also covers board practice and codes of ethics and how companies implement these in their organisation.

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