Codified Ethics
Codified ethics also states the consequences of violating a prohibition and the method by which the violation will be resolved or handled, including:
Holding outside jobs/positions

Gifts
Kickbacks
Campaign finances
Economic interests
Honoraria
Conflicts of interest
Lobbyist disclosures
Bribery
Codified ethics also states what the consequences of violating a prohibition may be and the method by which the violation will be resolved or handled, including:
Penalties
Dispositions
Complaints
Training
Sanctions
Remedies
Recovery of finances
Whistleblower protections
Codified ethics often represents the minimum standard of behavior, and therefore, is typically insufficient to guide individuals in all ethical decision-making. Individuals also need to utilize value-based ethics in decision-making.
Value-based Ethics
Value-based ethics is the opposite of codified ethics, in that this form of ethics is subjective. Values refers to one’s beliefs and may include elements such as trustworthiness, respect, responsibility to the public, and avoiding the appearance of impropriety. Value-based ethics provides us with an opportunity to discuss how we should make decisions when we do not have codified ethics to rely upon.