This booklet offers trustees of institutions of higher education a guide to the ethical principles upon which the institution should base its decisions. An introductory section offers actual examples of unethical decisions by single officials for which the institution was responsible. The following sections each explain a principle and offer questions for consideration. The sections address: (1) the ladder of compliance, including federal, state, and local law; (2) the institution's corporate charter and bylaws; (3) accrediting and coordinating agencies; (4) contracts and obligations; and (5) accountability and self-regulation. The booklet concludes with four specific suggestions for the board: first, include in bylaws and policy documents an explicit statement mandating accuracy in all self-reporting and self-descriptions and acknowledging that the institution must be truthful in all dealings; second, make clear to the chief executive that the board expects to be given truthful, accurate data; third, conduct a review of the charter, bylaws, and board policy compendium; and, fourth, work with the chief executive officer to recognize and disapprove of any infractions or exceptions to the board's policy of integrity and accuracy. (DB)