Ethics and Compliance in Business Practices

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What is the main aim of a rules-based approach?

Detection of compliance (correct)

Prevention of issues

Encouragement of discretion

Reflection of current values

Which of the following is a disadvantage of the rules-based approach?

Reflective of time circumstances

Ambiguity in applications

Lengthy and rigid structure (correct)

Subjectivity in enforcement

What motivates compliance in a rules-based approach?

Personal discretion

Fear of consequences (correct)

Desire for flexibility

Incentives for improvement

Which characteristic is an advantage of the principles-based approach?

Flexibility to adapt Signup and view all the answers

Which of the following is NOT a disadvantage of the principles-based approach?

Rigidity in application Signup and view all the answers

What characterizes the pre-conventional stage in Kohlberg's Theory of Moral Development?

Moral decisions influenced by adults and consequences of rules. Signup and view all the answers

During which stage do individuals internalize moral standards from their role models?

Conventional Signup and view all the answers

What is a key feature of the post-conventional stage of moral development?

Judgment based on self-chosen principles of rights and justice. Signup and view all the answers

What typically influences moral decisions in the pre-conventional stage?

Consequences of breaking rules and standards of adults. Signup and view all the answers

How does moral reasoning differ between the conventional and post-conventional stages?

Conventional reasoning is based on societal norms, while post-conventional focuses on individual principles. Signup and view all the answers

Which of the following is NOT a fundamental principle for professionals?

Review Signup and view all the answers

Which threat involves a professional advocating for a position or conclusion that benefits them?

Advocacy Signup and view all the answers

What is one of the safeguards that can help ensure professional conduct?

External review by third parties Signup and view all the answers

Which principle emphasizes the importance of making decisions without bias or conflict?

Objectivity Signup and view all the answers

Which safeguard is particularly related to enhancing the knowledge and skills of professionals?

Education and training Signup and view all the answers

What is the main objective of the dispute resolution process?

To ensure both sides' needs and interests are addressed Signup and view all the answers

Which type of alternative dispute resolution involves an independent party helping both sides to reach an agreement?

Mediation Signup and view all the answers

What is a key issue associated with civil litigation?

High costs and confidentiality concerns Signup and view all the answers

What is the primary concern related to arbitration as a form of dispute resolution?

Commercialisation and limited scope Signup and view all the answers

In conciliation, what role does the conciliator play?

Acts as a neutral facilitator providing opinions Signup and view all the answers

What is a key characteristic of expert determination?

It is a private process. Signup and view all the answers

How does corporate governance contribute to fair decision-making?

By promoting transparency and accountability. Signup and view all the answers

What aspect of corporate governance faces public scrutiny?

The feedback mechanism. Signup and view all the answers

What is one of the roles of corporate governance?

To ensure compliance with legal standards. Signup and view all the answers

Which of the following is NOT a role of corporate governance?

Facilitating unchecked power dynamics. Signup and view all the answers