Chapter 4 Flashcards
Key components of sustainable development
Economic growth
environmental protection
social equality
Fundamental ethical principles
Professional behaviour
Professional competence and due care
Confidentiality
Integrity
Objectivity
What is the conceptual framework
Set of principles to help accountants act ethically
What is the Principle-based approach:
use the conceptual framework to identify and evaluate threats to fundamental ethical principles
What are the fundamental ethical principle threats
Self-interest threats
self-review threats
familiarity threats
intimidation threats
advocacy threats
What are the stages of money laundering
Placement
layering
integration
What to do if you suspect money laundering
Report money laundering to the National Crime Agency
What does the suspicious activity report contain
Identity of the suspected person
information on which the suspicion of money laundered is based
details of the person making the report
Examples of money laundering offences
Concealing
Arrangement
Acquisition
