Approved: Illinois CPA Society Board of Directors February 22, 2006
The Illinois CPA Society’s Code of Conduct (hereinafter referred to as the Code) requires directors, other volunteers, and employees to observe high standards of business and personal ethics in the conduct of their duties and responsibilities. Employees and representatives of the organization must practice honesty and integrity in fulfilling their responsibilities and comply with all applicable laws and regulations.
Each director, volunteer, and employee of the Illinois CPA Society has an obligation to report in accordance with this Whistleblower Policy (a) questionable or improper accounting or auditing matters, and (b) violations and suspected violations of the Code (hereinafter collectively referred to as Concerns).
Authority of Audit Committee
All reported Concerns will be forwarded to the Audit Committee in accordance with the procedures set forth herein. The Audit Committee shall be responsible for investigating, and making appropriate recommendations to the Board of Directors, with respect to all reported concerns.
This Whistleblower Policy is intended to encourage and enable directors, volunteers, and employees to raise Concerns within the Organization for investigation and appropriate action. With this goal in mind, no director, volunteer, or employee who, in good faith, reports a Concern shall be subject to retaliation or, in the case of an employee, adverse employment consequences as a result of such report. Moreover, a volunteer or employee who retaliates against someone because he or she has reported a Concern in good faith is subject to discipline up to and including dismissal from the volunteer position or termination of employment.
Employees should first discuss their Concern with their immediate supervisor. If, after speaking with his or her supervisor, the individual continues to have reasonable grounds to believe the Concern is valid, the individual should report the Concern to the Director of Human Resources. In addition, if the individual is uncomfortable speaking with his or her supervisor, or the supervisor is a subject of the Concern, the individual should report his or her concern directly to the Director of Human Resources. If the individual is uncomfortable speaking with the Director of Human Resources, he/she should contact the CEO. If Human Resources or the CEO are the subject of the concern, the concern should be reported in writing to the chair of the Audit Committee.
If the Concern was reported verbally to the Director of Human Resources or CEO, the reporting individual, with assistance from the Director of Human Resources or CEO, shall record the Concern in writing. The Director of Human Resources or CEO is required to promptly report the Concern to the Chair of the Audit Committee, which has the responsibility to investigate all Concerns. If the Director of Human Resources or CEO, for any reason, does not promptly forward the Concern to the Audit Committee, the reporting individual should directly report the Concern to the Chair of the Audit Committee. Contact information for the Chair of the Audit Committee (including phone number and email address) may be obtained through the Human Resources Department or the website. Concerns may be also be submitted anonymously. Such anonymous Concerns should be in writing and sent directly to the Chair of the Audit Committee.
If you don’t feel comfortable with any of these options, call The Network toll-free, 24 hours a day, 7 days a week. 877.217.4730. A professional interviewer gives you the option to remain anonymous. Your information is relayed to the CEO of ICPAS for appropriate follow up. (if report is about CEO, information will go only to the Chair of the Audit Committee.) A monthly report of all concerns goes directly to the Chair of the Audit Committee). You may call back to provide additional information or to answer questions your company might have as they investigate your concern.
Directors and Other Volunteers
Directors and other volunteers should submit Concerns in writing directly to the Chair of the Audit Committee. Contact information for the Chair of the Audit Committee may be obtained from the Chief Financial Officer or the website.
Handling of Reported Violations
The Audit Committee shall address all reported Concerns. The Chair of the Audit Committee shall immediately notify the Audit Committee, the Chairperson of the Board of Directors (unless the Chairperson is the subject of the reported Concern), and the President and Chief Executive Officer (unless the President and Chief Executive Officer is the subject of the reported Concern) of any such report. The Chair of the Audit Committee will notify the sender and acknowledge receipt of the Concern within five business days, if possible. It will not be possible to acknowledge receipt of anonymously submitted Concerns.
All reports will be promptly investigated by the Audit Committee, and appropriate corrective action will be taken and notification given to the Board of Directors, if warranted by the investigation. In addition, action taken must include a conclusion and/or follow-up with the complainant for complete closure of the Concern.
The Audit Committee has the authority to retain outside legal counsel, accountants, private investigators, or any other resource deemed necessary to conduct a full and complete investigation of the allegations.
Acting in Good Faith
Anyone reporting a Concern must act in good faith and have reasonable grounds for believing the information disclosed indicates an improper accounting or auditing practice, or a violation of the Codes. The act of making allegations that prove to be unsubstantiated, and that prove to have been made maliciously, recklessly, or with the foreknowledge that the allegations are false, will be viewed as a serious disciplinary offense and may result in discipline, up to and including dismissal from the volunteer position or termination of employment. Such conduct may also give rise to other actions, including civil lawsuits.
To the extent possible, reports of Concerns, and investigation pertaining thereto, shall be kept confidential consistent with the need to conduct an adequate investigation.
Disclosure of reports of Concerns to individuals not involved in the investigation will be viewed as a serious disciplinary offense and may result in discipline, up to and including termination of employment. Such conduct may also give rise to other actions, including civil lawsuits.