Corporate Governance plays a crucial role in regulating the corporation and the employees' conduct and helps prevent fraud. Though ethics is considered an essential aspect of Corporate Governance, the inclusion is not made mandatory for all in any specific framework, and there is no way to assess the incorporation of ethics in the corporate governance codes and code of conduct developed by the Company. Though various companies have their code of conduct to adhere to ethical practices, there is no uniform policy, and the incorporation of ethics is not seen in many companies. Thus the main aim of this paper is to reiterate the importance of ethics and how it is a critical factor in regulating the company's success. The paper also aims to bring out the need for conduct or framework, including ethics in Corporate Governance.