Code of Conduct
This Code of Conduct Policy describes standards to guide us in our daily business activities as they relate to accounting, internal control, and auditing matters. We believe these standards are already being followed. Our goal is to commit them to writing, and to insure that they are understood and followed by the community.
The Code of Conduct Policy applies to all employees (faculty and staff) of Loyola University Chicago (University) operations including officers, faculty, staff, and individual who perform services for the University as volunteers. The Policies refer to all these persons collectively as “members of the University community” or “community members.”
These policies do not alter or supersede additional policies in place that may be more restrictive or specialized (e.g., Loyola University Health System, sponsored programs, financial aid and student loans).
Employee Integrity and Ethical Conduct Policy
The University is committed to the highest ethical and professional standards of conduct as an integral part of its mission, the promotion of learning. To achieve this goal, the University relies on each community member’s ethical behavior, honesty, integrity and good judgment. Each community member should demonstrate respect for the rights of others. Each community member is accountable for his/her actions with respect to accounting, internal controls and auditing issues.
Compliance with Laws and University Policies
The University and each community member must transact University business in compliance with all laws, regulations, and University policies related to their positions and areas of responsibility. Understanding and following these standards can be complex, such as in areas of procurement (including limitations on the ability to contractually bind the University) and employment matters.
In addition, community members are expected to behave in a manner which respects the freedom of others as well as refraining from interfering with, obstructing or disrupting a normal University activity, even while exercising their own freedom of expression. Managers and supervisors are responsible for teaching and monitoring compliance in their areas.
Under Section 301 of Sarbanes Oxley, the University Audit Committee must take responsibility for ensuring that processes are in place for the receipt, retention and treatment of any complaints about accounting, internal controls and audit issues. Channels must be open for employees to communicate their knowledge of malfeasance or errors regarding these issues without fear of management retaliation.
Reporting Suspected Violations or Concerns about Accounting, Internal Controls and Auditing Issues
The University’s compliance efforts focus on teaching members of the University community the appropriate compliance standards for the areas in which they work. Nevertheless, violations may occur. In addition, members of the University community may have concerns about matters that they are not sure represent violations. This section describes community members’ responsibilities for reporting violations or concerns, and how these responsibilities may be carried out.
Each community member is encouraged to report violations or concerns about violations or concerns about accounting, internal controls and auditing issues that come to his/her attention. Managers have a special duty to adhere to the standards set forth in this code, to recognize violations, and to enforce the standards. Disciplinary actions for proven violations of this code of conduct or for retaliation against anyone who reports a possible violation will be determined on a case-by-case basis and may include termination of employment. Individuals who violate the code may also be subject to civil and criminal charges in some circumstances where a law or laws may have been broken.
How to Report a Violation or Discuss a Concern about Accounting, Internal Controls and Auditing Issues
- You may report violations or concerns about accounting, internal controls, and auditing issues to your immediate supervisor or department head, if appropriate or use the EthicsLine Reporting Hotline to report violations or concerns.
- In the event of violations or concerns that you or your immediate supervisor or department head may have, you are responsible to contact Loyola’s Chief Financial Officer (CFO), the Vice President for Human Resources (CHRO), or use the EthicsLine Reporting Hotline for resolution of a possible violation or concern.
Any matters resulting in violations of accounting, internal controls, and auditing issues will be reported to the President and the Audit Committee of the Board of Trustees.
The University strongly encourages all faculty, administrators, staff, and students to report suspected or wrongful acts conduct by Loyola University Chicago employees through the offices listed above for such reporting.
No University faculty member, administrator, staff or student may interfere with the good faith reporting of suspected or actual wrongful conduct; no individual who makes such a good faith report shall be subject to retaliation, including harassment or any adverse employment, academic or educational consequence, as a result of making a report. The University will take whatever action is necessary and appropriate to address a violation of this policy.
Reviewed: 01/17/2017; 06/27/2019