CH9 - Applying Ethical Principles Flashcards
1
Q
Fraud
- definition
- criteria
A
Intentional act to gain advantage by deception
- pressure
- opportunity
- rationalisation
2
Q
Responding to fraud risks
suitable internal controls:
A
- segregation of duties
- authorisation
- performance review
3
Q
Bribery
Corruption
A
Bribery = influencing actions of someone Corruption = deviation from honest behaviour
4
Q
Aspects of bribery can lead to the following problems:
A
- lack of honesty
- conflicts of interest
- international risk management
- economic issues
- reputation
5
Q
Measures to combat bribery and corruption
A
- establish culture
- code of conduct
- risk assessment
- business conduct
- reporting
- monitoring
6
Q
Tucker’s 5 questions
A
- profitable?
- legal?
- fair and equitable?
- right?
- sustainable?
