International Business Practices Compliance
21 Questions
2 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What is the primary responsibility of GRC according to the text?

  • Enforcing the Consequence Management policy
  • Managing international trade transactions
  • Overseeing employee training programs
  • Reviewing and updating the Code of Conduct (correct)
  • In what instances must all employees of NNPC Limited apply the highest ethical standards?

  • When dealing with business partners
  • Only in national business practices
  • In every instance (correct)
  • During international trade transactions
  • Which laws regulate international business practices as mentioned in the text?

  • Taxation Laws in Australia
  • Foreign Corrupt Practice Act (FCPA) & Racketeering, Influence and Corrupt Organizations Act (RICO) (correct)
  • Employment Laws in the UK
  • Consumer Protection Laws in the USA
  • What must employees do when the legality or propriety of any prospective transaction is subject to question or doubt?

    <p>Seek internal legal advice</p> Signup and view all the answers

    Who will address established violations of the Code of Conduct?

    <p>Disciplinary Committee and other relevant parties</p> Signup and view all the answers

    What should employees do when dealing with export/import rules and regulations?

    <p>Keep up to date with applicable rules and regulations</p> Signup and view all the answers

    Who is responsible for updating the Code of Conduct?

    <p>GRC</p> Signup and view all the answers

    When should employees seek internal legal advice?

    <p>Whenever the legality or propriety of any prospective transaction is subject to question or doubt</p> Signup and view all the answers

    What will happen to any established violations of the Code of Conduct?

    <p>They will be forwarded to the Disciplinary Committee and other relevant parties for addressing</p> Signup and view all the answers

    What must employees do when their work involves international trade transactions?

    <p>Comply with applicable laws and regulations</p> Signup and view all the answers

    Who is responsible for reporting and providing advice to the Board and Executive management on the level of compliance with the Code of Conduct?

    <p>GRC in collaboration with the Human Resources Department</p> Signup and view all the answers

    How can communication of the Code of Conduct be achieved according to the text?

    <p>Through training sessions, periodic assessments, posters, meetings, staff induction, vendor briefings, and electronic media</p> Signup and view all the answers

    What should be disclosed in the interest declaration form as required in the text?

    <p>Any personal, economic, or financial interests</p> Signup and view all the answers

    What is a conflict of interest, based on the text?

    <p>Any situation where an individual’s personal, financial, or non-financial interests affect his or her duty to act in the best interest of the Company</p> Signup and view all the answers

    Who is required to fill out the interest declaration form according to the text?

    <p>Only Management Staff</p> Signup and view all the answers

    What is a responsibility of GRC according to the text?

    <p>Collaborating with the Human Resources Department and reporting to the Board and Executive management on compliance with the Code of Conduct</p> Signup and view all the answers

    What is recommended about communication of the Code of Conduct according to the text?

    <p>Communication should be done regularly and timely</p> Signup and view all the answers

    What should be disclosed in the conflict-of-interest form according to the text?

    <p>Any relationships, positions held, or circumstances that could result in conflict of interest</p> Signup and view all the answers

    What does SN stand for in the interest declaration form according to the text?

    <p>Serial Numbers</p> Signup and view all the answers

    What is the purpose of Sample Interest Declaration Forms according to the text?

    <p>For all Management Staff</p> Signup and view all the answers

    What does NNPC stand for according to the text?

    <p>Nigerian National Petroleum Corporation</p> Signup and view all the answers

    More Like This

    Ethical Approaches Quiz
    30 questions
    CHAPTER 2 QUIZ
    32 questions

    CHAPTER 2 QUIZ

    RazorSharpPlateau avatar
    RazorSharpPlateau
    Ethical Management in a Global Setting
    29 questions
    International Business Ethics Quiz
    16 questions
    Use Quizgecko on...
    Browser
    Browser