The Integrity Principles of Trustees, including the Official Trustee, and Debt Agreement Administrators were developed in consultation with ARITA, AIIP, PIPA, ASIC and Financial Counselling Australia to describe the intent and characteristics of a personal insolvency practitioner who embraces good culture.
Trustees and Debt Agreement Administrators often have to strike a difficult balance between competing interests and pressures. Positive culture can support fairness when dealing with stakeholders, especially vulnerable people in the community. It can also help to improve trust and confidence in the work of the profession. In contrast, failings of organisational culture can foster poor decision-making or poor behaviour, leading to misconduct.
The Integrity Principles build on existing industry codes of conduct, setting a benchmark for industry best practice. These Principles will evolve over time with the industry, and will be regularly updated by the profession that owns them.
For more information see the PDF below: