Code of Ethics Assignment: Research Report for Crown Resorts
Task: Code of Ethics Assignment Instructions: You are required to research recent news articles and other information about Crown Resorts. You must then draft a Code of Ethics for Crown Resorts. The word limit is 2000 words. Your Code of Ethics for Crown Resorts must specifically address:
D. Dishonest and Fraudulent Behavior
E. Whistleblower Protections
Code Of Ethics
Crown Resorts’ code of ethics undertaken in this code of ethics assignment covers an outwitting safer gambling practice and policy and contributes towards better work culture. We are continuously working towards the advancement of work culture and safer gambling with a better code of ethics.
Discrimination means treating an individual less favorably as compared to other individuals. Examples of it are treating anyone less positively contain restricted access to training or other advantages, not giving opportunities to employees or any customers(Amalina and Juliarto, 2021). The example of secured characteristics that cannot be the reason for treating anyone less advantageously contains:
- Gender identity, gender expressions
- Relationship status, parental status, breastfeeding, carer’s or family responsibilities
- Descent, national origin, race, religion or ethnicity or race, age
- Genetic information or medical information.
Favor diversity and disapprove Discrimination:
Crown Resorts is devoted to promoting an integrated and diverse workplace with no discrimination and harassment(betting and gaming council, 2021). We value the exclusive support of diverse employees. Crown welcomes persons from different backgrounds to provide diverse viewpoints.
We do not endure discrimination or carelessness against any person because they are different from the rest. We strongly prohibit unfair treatment based on discrimination like race, caste, gender, religion, education, and disabilities. We abide by the Australian code of ethics for business which favors the right of individuals to respect and dignity in the workplace and verbal or sexual harassment or any belittling behavior over any person or group.
Crown will offer fair, equal, and rational opportunities to all the people. It is the duty of every employee, director, officers of the company to help it to achieve the goal. The customers are also binding by the rules to follow a non-discrimination policy.
Treat others with respect.
- Interaction with customers, team members, or any other work connection people, Crown Resorts treats everyone with respect, dignity, courtesy, and even if one makes negative comments about Crown Resorts.
- Not disclose any personal details about other employees or customers personal details.
- Avoid retaliatory or discriminatory statements on any other person or customer. Crown Resorts will seek contractual or criminal sanctions over any employees involving discriminatory activities(Santos et al., 2017).
How we do it
- Broadcasting and enforcing our discriminatory prevention and harassment policy.
- All employees are first given training programs about discrimination.
- Provide the workforce with various ways to report any discriminatory act or harassment.
- Training workforce to recognize any discrimination or prevention of discrimination in the Crown Resorts.
Exploitation includes being coerced or forced, or groomed someone to do something. Exploitation can occur in the workforceor even in gambling. Crown Resorts adhere to prevent or oppose any form of exploitation. Every staff of the Crown is responsible with respect to the dignity, safety, or right of the individual or customers. The major aim of the code of conduct is to encourage accountability among the staff and customers and work with humanity. It also seeks to guard staff or any man, woman, girl, and boy from any exploitation, including money, sexual, or any mental or physical exploitation(Calvosa, 2017a). As Crown Resorts is engaged in gambling with the use of money and cash, the staff are well trained to handle the customers properly and avoid any kind of exploitation. We abide by the Australian code of conduct and strongly condemned exploitation, and shall take strict lawful act. We are proactively working to end the exploitations of vulnerable people and continue cautiousness.
The way to achieve it
- Propagate and apply exploitation policy against any exploitation.
- Partnership with local and non-profit organizations for exploitations.
- The third-party audits are conducted to have a free and fair environment.
- Restriction on the use of any recruiters which charges extra amount to the employees or any customers or impose any improper way to conduct or include customers or new employees.
- Safeguarding that we do not just comply with but also surpass all responsibilities of gaming government regulation.
- Training team members to identify and address the guests who show signs of problematic exploitative behavior.
- We work to ensure a safe and fun environment that promotes gaming with the rising consciousness of fair gaming and do away with potential exploitative acts associated with gambling.
The staffs that are in regular contact with the customers are in charge of observing exploiting acts in the best way. If a concerning situation is found, then there are ways to report the issue, and firm legal action shall be taken against the issue.
Crown Resorts will comply with the anti-corruption law of Commonwealth Criminal Code Act 1995 of Australia. We will not accept, request, offer or participate or receive any kinds of improper payments in our business. On the occasion of awareness of improper payments in relation to Crown's business, we shall directly inform the legal department of the issue. Bribes:Having business rightly means never engaging in bribery, and we are directed towards not accepting any kinds of direct or indirect bribes in any place we conduct our business. We comply with all the laws and policies that forbid corruption or bribery(crown resorts, 2020).
Responsibilities we perform:
- Do not create facilitation expenditures.
- Follow internal accounting control for the transaction record and guarantee all transactions are sanctioned and verified properly.
- Do not utilize any political or charitable offering to improperly influence the government bureaucrats or have any business benefits from them.
- The employees, directors, or officers will not accept or provide anything which will negotiate or improperly stimulus themselves or others.
- Any gifts or other benefits received or offered that do not comply with the restrictions shall be disclosed in the Legal Department, or the internal auditor will be returned or declined.
Those persons whose duties allow them to receive certain gifts, entertainments, or favors from other people if the following tests are met:
- Gift or any other aids does not break any law and additionally is done as per with generally accepted local ethical practices.
- Gift or any other aids is not money, a gift record, or other negotiable tools.
- Gift or any other aids cannot be practically be construed as an inappropriate payment or inducement.
- Gift or any other aids arises or is accepted or given rarely(van Ruth et al., 2018).
- Gift or any other aids are containing rational expenditure.
- If consequently revealed to the public, the acceptance of any benefits will not humiliate the Crown Resorts, its staffs, directors, or officers.
- Gift or any other aids occurs from the usual business course and Any interpretation of the given section and its need are directed to the legal department before giving or accepting any benefit to the range sensibly feasible.
Dishonest And Fraudulent Behaviour
Fraud includes dishonest activity or deception which causes real or possible financial losses to any individual or entity. Common dishonest offenses as per the Crown Resorts are fraud, bribery, money laundering, theft, security fraud, dishonest use of positions, and various investment frauds. The dishonesty and Fraudulent behaviors motive by money and other beneficiaries.
Crown Resort’s members have a zero patience attitude to fraud and dishonesty. The staffs will perform:
- Never assume document or check- fake, money laundering, taking of directives and manipulating tender process or improper advantageous and theft.
- Conduct all the business as per the international acceptance performance and process and uphold the greatest standards of accountability and clearness in connection to finances, governance, and management if relevant.
- Promote a culture of openness and honesty with management or staff.
- Being transparent in every work connected to financial transactions.
- Never assume document or money laundering and influencing tender method of theft or improper benefit.
- Never destroy, alter or conceal facts, destroy or make wrong statements to the investigators for substantially influence or obstruct investigations not fraudulent, corrupt, or collusive accusations.
Making an inclusive workplace and searching for the health and wellbeing of the staff is the main important task. It means that it is not tolerable for any staff to involve in any fraudulent act and show improper behavior.
Thus, Crown Resorts undertakes a risk assessment to know opportunities for fraud, theft, or dishonesty and then puts controls in place to prevent it. It has an established responsibility and authority(Act for peace, 2019). The staff are also trained to be conscious and identify signs of corrupt behavior. If fraudulent activities are found, the charges are applied by different agencies like the Australian Securities and Investment Commission (ASIC). The charges are not only applied to the workforce of the Crown Resorts but also to its customers.
How we avoid the problem:
- Carry out duties in a faithful way and always follow relevant law, procedure, and policies.
- Not engaging in performance or ignoring behavior by others breaks the code of conduct of any of our team leaders.
- Promptly increase issues or suspects breacheswith the team leaders.
A whistleblower is a person who is usually staffing that exposes details or functions within public, private or governmental firms, which is considered illegal. Crown Resorts is dedicated to offering a workplace that is leading to open dialogue of its business practices(Pamungkas, Ghozali and Achmad, 2018). It is the policy of the company to obey all applicable law that protects workforces against illegal discrimination.
We have independent Whistleblowing, and we can use these services to report severe stuff which does not appear correct or which could be a breach of law. It may contain theft, fraud, corruption, safety breaches, risk, or bullying. Whistle-blowers are stimulated to report irregularities under the fear of reprisal or retaliation. Good reliance report of ethical issue can be performed under secrecy. Whistleblowers of the Crown Resorts are protected by law offer by federal whistleblower protection laws.
One of the main legal responsibilities of the Crown Resorts senior manager, officers, and auditors is to guard the qualified whistle-blowers' identity. Whistle-blowers are made aware that they do not have to offer their name or other details when making a disclosure and can remain unidentified. Crown Resorts ensure appropriate measures are in place in the organization for protection over any breach of the revelation of private details. It is a civil or criminal action if an entitled receiver makes an unlawful disclosure of the whistle-blowers' identity(gnl.com, 2020). The disclosure of the whistle-blowers' character without approval can lead to fines to both individuals and the company. Additionally, Crown Resorts are accountable for compensating a whistle-blower if they go through losses, injury, or damage caused by the harmful conduct of an individual in the company that makes our report. Harmful conducts are damage to the whistleblower's reputation that can lead to a breach of our confidence.
Protection from Detriment or Victimisation:
Our offers, auditors, and managers do not threaten to cause or victimize whistleblowers for creating its disclosure of details.
Enforcement of the code of ethics is a significant segment of protecting the integrity of the occupation and creates fair and accountable practice. The main goal of the Crown Resorts Enforcement procedure is to guarantee impartiality and fundamental justice to all the people that might be parties to the grievance arising under the Code and Ethics standards(sec.gov, 2020). The Enforcement processes are utilized to assist compliance with the ethical standards for discriminatory policy, exploitation, corruption, dishonesty, and fraudulent behavior and whistleblowers protection.
The gambling and betting industry is devoted to backingprograms and firms which backing the National Strategy to minimized Gambling harm. Thus, each Crown Resorts member is obliged to offer over the broader RET (Research, Education and Treatment) provision on a yearly basis. Crown Resorts staff perform to deliver huge funding over current provision.
The code is reviewed governing by Crown Resorts committee. Complaint about alleged nonconformity is made by a present member of the Crown Resorts. Each supervisor is responsible for conducting an ethical code of conduct in the industry. The supervisors constantly guard and see if there are any breaches of ethical code. For example, if there is any discrimination performed in the employee conduct or if there is bribery and fraud occurred in the business. The supervisor acts responsively in the event which a suspected desecration of the ethical code is brought to the attention. A law enforcement officer is provided with correct details of the commission or likely commission of the illegal offenses. We follow a strict enforcement procedure for the ethical code of conduct in our business.Thus, the code of ethics is enforced by disciplinary action. ?
Act for peace (2019). AfP Code of Conduct including prevention of Sexual Exploitation and Abuse, all forms of harassment, fraud and corruption, security breaches, unethical business practices and other abuses of power. [online]. Available at: https://www.actforpeace.org.au/getattachment/What-we-do/Accountable-to-you/our-policies/AfP-Code-of-Conduct-Policy.pdf.aspx#:~:text=It%20is%20designed%20to%20assist.
Amalina, Z.G. and Juliarto, A. (2021). THE EFFECT OF COMPANIES’ ETHICAL COMMITMENTS ON FINANCIAL PERFORMANCE : THE MODERATING EFFECT OF OWNERSHIP STRUCTURE. Diponegoro Journal of Accounting, [online] 10(1). Available at: https://ejournal3.undip.ac.id/index.php/accounting/article/view/30242 [Accessed 12 May 2021].
betting and gaming council (2021). Codes of Conduct. [online] Betting & Gaming Council. Available at: https://bettingandgamingcouncil.com/members/codes-of-conduct [Accessed 12 May 2021].
Calvosa, P. (2017b). Responsible Gambling Strategies for Internet Gambling: An Empirical Investigation into the Italian Gambling Market. International Journal of Business and Management, 12(7), p.17.
crown resorts (2020). Crown Resorts Limited Code of Conduct. [online] . Available at: https://www.crownresorts.com.au/CrownResorts/files/69/69a246de-068b-4c88-bbde-cb64b028831a.PDF#:~:text=All%20business%20affairs%20must%20be [Accessed 12 May 2021].
gnl.com (2020).Fraud and Dishonesty Offences | Criminal Law | Gilshenan & Luton. [online] www.gnl.com.au. Available at: https://www.gnl.com.au/services/criminal-defence/fraud-and-dishonesty/.
Pamungkas, I.D., Ghozali, I. and Achmad, T. (2018). A pilot study of corporate governance and accounting fraud: The fraud diamond model. Journal of Business & Retail Management Research, 12(02).
Santos, J., Palumbo, F., Molsen-David, E., Willke, R.J., Binder, L., Drummond, M., Ho, A., Marder, W.D., Parmenter, L., Sandhu, G., Shafie, A.A. and Thompson, D. (2017).ISPOR Code of Ethics 2017 (4th Edition).Value in Health, 20(10), pp.1227–1242.
sec.gov (2020).WHISTLEBLOWER PROTECTION POLICY AND CODE OF ETHICS. [online] www.sec.gov. Available at: https://www.sec.gov/Archives/edgar/data/744667/000137483906000019/ex99-1.htm.
van Ruth, S.M., Luning, P.A., Silvis, I.C.J., Yang, Y. and Huisman, W. (2018). Differences in fraud vulnerability in various food supply chains and their tiers. Food Control, 84, pp.375–381.