Recommends implementation of global code of ethical conduct

An independent inquiry into the ethical conduct of Britain’s biggest defence contractor, BAE Systems, has published its findings.

BAE Systems has been the subject of intense legal and media scrutiny over allegations—which the company denies—of bribery and corruption. In December 2006, the Serious Fraud Office withdrew its investigation into the company’s dealings with Saudi officials.

Former chief justice Lord Woolf’s report recommended that the company implement a global code of ethical conduct.

BAE Systems welcomed the report. Dick Olver, chairman, BAE Systems, said: ‘The Committee’s publication of this Report is an important step towards BAE Systems’ objective of achieving benchmark standards of governance in the conduct of its day-to-day business.’

Added Mike Turner, chief executive: ‘We will carefully study the Report’s contents to understand the detail of its conclusions and remain committed to acting on all the Committee’s recommendations.’