Over the past few months we have witnessed many examples of ethical lapses in the public domain, primarily within the spectrum of governmental institutions, whether in Ottawa at the federal level, or Toronto at the municipal level, to name but two high profile situations. Regrettably, these lapses do tremendous damage to the reputations of the individuals involved, as well as the institutions they represent.

Similar reputational damage can be inflicted upon publicly traded entities in the instance of ethical lapses. Reputation management is therefore an important component of any corporate communications program and, from an IR perspective, it is not simply the credibility and clarity of the messages we communicate that are important, it is also the integrity of IR practitioners – we the messengers.

Although it is rarely discussed, CIRI has a Code of Ethics and Practice Guidelines (updated in April 2013 by the CIRI National Board) to which members must comply. The Code of Ethics includes10 statements, which unambiguously declare the ethical expectations for CIRI members. Perhaps the third statement – that members are to “Avoid even the appearance of professional impropriety in the conduct of investor relations responsibilities” is the most comprehensive; some individuals who have recently been accused of ethical lapses in the government sphere claim their actions were ‘legal’ despite being ethically questionable. (My personal perspective is that if an action fails the ‘gut’ test, it is a potential breach of the third statement.)  In addition to the Code of Ethics, there is a Code of Conduct applicable to those of us who serve on CIRI’s National Board and Committees, and I encourage you to review both of these documents on the CIRI website.

As a CIRI member, I am proud to be associated with an organization that maintains such high ethical standards for its members and equally proud that those with whom I associate in this profession choose to adhere to these high standards of performance and excellence.