Parker promotes strong corporate governance to strengthen all aspects of our business. Upholding our reputation for business ethics, integrity, and compliance will aid our efforts to advance both our financial and ESG performance going forward. The Parker Board of Directors helps ensure that the company has and adheres to standards that promote effective decision-making and risk management.
Committed to the Highest Standards of Ethics and Integrity
We place the highest value on integrity and apply our continuous improvement mindset to earn and keep our reputation for integrity and ethical business conduct. Employees must not only comply with the law and our policies, but must also set an example of ethical behavior and avoid even the appearance of impropriety. We communicate our commitment to the highest ethical and legal standards in our Code of Conduct. Employees and contractors are required to report any potential violation of laws, regulations, company policies, and customer requirements. Reports can be made confidentially to internal resources or anonymously to our confidential third-party Ethics Hotline, which is available by phone or email and in local languages in all countries where Parker operates. Our whistleblower policy provides procedures for reporting irregularities and complaints about questionable accounting, internal accounting controls, and auditing practices. We strictly prohibit retaliation against any employee who makes a good faith report through these channels. Parker’s reputation for integrity and ethical conduct is a competitive advantage and strengthens our brand. We will continue deepening and promoting our culture of ethics to encourage our employees to always do the right thing.
Managing Enterprise Risk
Enterprise risk management (ERM) is a key governance process that informs Parker’s strategic planning. Our robust ERM process is designed to identify, prioritize, mitigate, and manage the most significant risks to our business. As part of our governance, Parker’s ERM team conducts risk assessments to understand risk trends.
Robust Cybersecurity Program
As we continue to expand the use of digital technologies and services throughout our operations, Parker maintains a robust cybersecurity program designed to minimize cyber risk while protecting our people, processes, and technologies. Our cybersecurity team provides governance and tracks progress based on Parker’s cybersecurity maturity level.
Internal Accounting Controls
Parker maintains an internal control framework to help ensure financial transactions are recorded in a manner consistent with generally accepted accounting principles, books and records are accurate, and that there is adequate oversight over Parker funds and assets.