What does it mean to create a culture of honesty openness


• What does it mean to create a "Culture of Honesty, Openness, and Assistance?" Give an example from an organization with which you have been affiliated.

• Codes of Conduct and Conflict of Interest Forms are often called "soft" controls. What does this mean?

• What does it mean to have a good system of internal controls? Give some examples of internal controls.

• Whistle blower policies and procedures? Good or bad idea? Why?

• Symptoms of fraud can be separated into six groups:

(1) accounting anomalies,

(2) internal control weaknesses,

(3) analytical anomalies,

(4) extravagant lifestyle,

(5) unusual behavior, and

(6) tips and complaints. Discuss three.

• Discuss the elements of a good fraud report.

• What does "Tone at the Top" mean?

• Discuss the relative oversight responsibility of the audit committee, management, internal audit and independent auditors as it pertains to fraud.

• Summarize the five steps of managing the Business Risk of Fraud.

• Define and explain ERM.

• What is a risk assessment? What are the steps to complete one?

• Give some examples of how technology may be used in fraud prevention.

• Explain FCPA and the U.K. Bribery Act. Why all the fuss?

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Accounting Basics: What does it mean to create a culture of honesty openness
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