AUDIT AND COMPLIANCE COMMITTEE

UNIVERSITY OF VIRGINIA BOARD OF VISITORS MEETING OF THE AUDIT & COMPLIANCE COMMITTEE JULY 30, 2004 AUDIT & COMPLIANCE COMMITTEE Friday, July 30, 2004 10:30 – 11:00 a.m. Lower East Oval Room, The Rotunda Committee Members: Georgia M. Willis, Chair Terence P. Ross G. Slaughter Fitz-Hugh, Jr. Warren M. Thompson Don R. Pippin Gordon F. Rainey, Jr., Ex Officio AGENDA ITEM: Discussion of Proposed Code of Ethics BACKGROUND: The Chair will request comments from Committee Members as to possible changes in the proposed Code of Ethics. ACTION REQUIRED: None AUDIT & COMPLIANCE COMMITTEE (Open Session) Friday, July 30, 2004 10:30 – 11:00 a.m. Lower East Oval Room, The Rotunda University of Virginia PROPOSED CODE OF ETHICS & STATEMENT OF VALUES Preamble: Whereas, the success and reputation of the University as a premier center of learning and provider of public services is dependent upon public confidence in its operations and the integrity of its transactions; and Whereas, the character of any organization is reflected not only by its aspirations and its standards but also by the ethics and behaviors of its leadership and staff, and Whereas, the General Assembly of Virginia has enacted a comprehensive code of ethics which both defines and prohibits inappropriate and illegal conflicts of interests applicable state-wide to all governmental officers and employees, and ...