Week 2 - Bribery Flashcards
1
Q
What is Bribery?
A
Offering, giving, receiving or soliciting of any item of value to influence the actions of an official or other person in charge of a public or legal duty.
2
Q
What’s the purpose of Bribery?
A
To prevent the situation where the objectivity of accountants, professionals or public officials id jeopardised by financial incentives.
3
Q
Name 4 offences for Bribery
A
- Bribing
- Being bribed
- Bribing a foreign official
- Failure to prevent bribery
4
Q
Name the 2 penalties for bribery
A
Individuals
- 10 years maximum in prion
Commercial Firms
- Unlimited fines
5
Q
What’s the policy organisations must put into place regarding bribery?
A
They must have anti-bribery policies, training and procedures.
