The power of honesty
Integrity is the foundation of all we do
It is a constant. Those with whom we work, live, and serve rely on us. We align our actions with our words and deliver what we promise. We build and strengthen our reputation through trust. We do not improperly influence others or let them improperly influence us. We are respectful and behave in an open and honest manner. In short, the reputation of Barloworld reflects the ethical performance of the people who work in it.
WE PUT INTEGRITY INTO ACTION WHEN...
We are honest and act with integrity
We hold ourselves to the highest standard of integrity and ethical behaviour. We comply with the applicable laws and regulations in the countries in which we operate. We avoid any transaction, act or omission that may be perceived to be illicit, illegal or irregular and that may expose Barloworld to criminal or civil liability. We tell the truth. We promise only what we can reasonably expect to deliver. We strive to keep our commitments. Our company shareholders, customers, principals, suppliers, those with whom we do business, our fellow employees, and the communities in which we operate must be able to trust what we say and believe that we will always keep our word. We chose to do business with those who share these principles and uphold similar high standards of business conduct.
We avoid and manage conflicts and potential conflicts of interest
We do not engage in activities that create, or even appear to create, conflict between our personal interests and the interests of the company. These situations arise when a personal interest, family or other relationship makes it difficult for an individual to represent the company fully and fairly. Conflicts of interest can arise in any part of Barloworld’s operations. The most serious conflicts of interest usually arise when an employee has authority to spend the company’s money, has authority to hire or engage a person outside the company, or has information that could be valuable to a person outside the company. We do not enter into any business arrangement that may obligate or appear to obligate us to act in any way contrary to the law, Barloworld business interest, or Barloworld ethical business practices. We avoid any situation in which our independent business judgement might appear to be compromised.
We compete fairly
Barloworld believes that fair competition is fundamental to free enterprise. We observe antitrust and competition laws where we do business. In relationships with competitors, principals, suppliers and customers, we avoid arrangements that restrict our ability to compete with others. We will not be involved in any arrangements, understandings or agreements with competitors affecting prices, terms upon which products are repaired or sold, or the number and type of products repaired or sold
We ensure the accuracy and completeness of our financial reports
Investors, creditors, funders and others have a legitimate interest in our company’s financial and accounting information. The integrity of Barloworld financial reports and accounting records is based on the validity, accuracy, completeness, and timeliness of the basic information and supporting entries in the company’s books of account. We will ensure the accounting or financial entries accurately reflect what is described by the supporting information, so that the financial reports are reliable and can be understood. We recognise that all employees involved in creating, processing or recording such information are personally responsible for its integrity. The same standards of integrity that apply to external financial reporting also apply to the financial statements that are used as internal management tools.
We are fair, honest and open in our communication
We communicate with each other in a respectful, fair, honest and open manner. We keep investors, creditors, funders, stock markets, employees, principals, distributors, suppliers, the communities in which we operate and the general public informed on a timely basis through the public release of relevant and understandable financial and other information about our company. In releasing information about Barloworld, we make every effort to ensure that full disclosure is made to everyone without preference or favouritism to any individual or group. We respond to public inquiries – including those from the news media, government, and others – with prompt, courteous, honest answers through members of our executive leadership and employees who are authorised to speak publicly on behalf of Barloworld.
We handle “inside information” appropriately and lawfully
Inside information may be defined as information about a company not known to the public. Such information – certain financial data and plans for example – may have significant value to others, and therefore must be kept strictly confidential. We confirm that “material” inside information about Barloworld will not be used for personal gain or be provided to others, unless the proper protections are in place. Information is “material” if an investor would consider it important in making an investment in Barloworld or in another organisation. Where we have access to undisclosed information about a principal, supplier, customer or competitor we do not trade in that company’s stock, nor do we advise others to do so. In addition, we recognise that all employees, their families, our various stakeholders, and others whose relationships with Barloworld give them access to such information, must comply with these principles.
We refuse to make or receive improper payments
In dealing with public officials, other corporations, and private citizens, we firmly adhere to ethical business practices. We prohibit all forms of bribery and corruption. We will not seek to influence others, or seek to be influenced by others, either directly or indirectly, by paying or receiving bribes or kickbacks, including but not limited to payments to government/public officials by Barloworld employees or agents for the completion of routine governmental administrative actions, or by any other measure that is unethical or that will tarnish our reputation for honesty and integrity. Even the appearance of such conduct must be avoided. We will also not participate in any money laundering activities.