5. When members of the board have the capacity to challenge another's viewpoints, assumptions and beliefs and can still openly show respect, trust and candor, the environment created by this virtuous cycle that distinguishes exemplary boards is called ___________________________________.? Culture of Ethical Board Culture of Open Dissent Culture of Transparency Culture of Open Trust Culture of Openness

5. When members of the board have the capacity to challenge another's viewpoints, assumptions and beliefs and can still openly show respect, trust and candor, the environment created by this virtuous cycle that distinguishes exemplary boards is called ___________________________________.? Culture of Ethical Board Culture of Open Dissent Culture of Transparency Culture of Open Trust Culture of Openness

Contemporary Auditing

11th Edition

ISBN:9781337650380

Author:KNAPP

Publisher:KNAPP

Chapter6: Professional Roles

Section6.8: Tillman Rollins, Office Managing Partner

Problem 2Q

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In her book The Seven Signs of Ethical Collapse, Jennings explains: “When an organization collapses ethically, it means that those in the organization have drifted into rationalizations and legalisms, and all for the purpose of getting the results they want and need at almost any cost.” Discuss what you think Jennings meant by this statement in the context of the giving voice to values discussions in Chapter 2.
(a) You recently attended a lecture where it was stated that “professionals all over the world should be alive to their duties and not breach the ethics of their profession”. This statement was an affirmation of what you know that public interest and ethical standards should not be compromised by professionals in the discharge of their duties. Required: a. What is Professional ethics? b. Briefly discuss the importance of professional ethics c. Highlight the differences between rule based and principle-based professional ethics d. Discuss the inherent weaknesses of rule-based professional ethics e. Discuss the advantages of principle-based professional ethics.
Answer of the following question related to these characteristics and constraints. Donald Kirk, former chairman of the FASB, once noted that “. . . there must be public confidence that the standard-setting system is credible, that selection of board members is based on merit and not the influence of special interests . . .” Which characteristic is implicit in Mr. Kirk’s statement?
Quite often, people may face situations that put them in an ethical conflict. The best way to cope with this is ________. Question 22 options: A) to develop a personal code of ethical conduct about what is right and wrong B) to use the "golden rule" C) to do what makes the largest number of people happy in the situation D) to do nothing and ignore the situation E) to act the same way you have seen others act in similar situations
The American writer, Robert McKee, is quoted as saying, “True character is revealed in the choices a human being makes under pressure.” Explain what you think this means in the context of moral intensity and ethical leadership of organizations.
The process of ethical decision making involves commitment, consciousness, and competency. Identify the choice that describes ‘consciousness” choose correct answer a.ability to collect and evaluate information and foresee potential risks b.awareness to act consistently and apply morals in everyday behavior c.ability to evaluate information and develop alternatives d.desire to do the right thing regardless of the cost
The tension between the interests of the CEO and the interests of long-term stakeholders helps to explain why: Group of answer choices A. Conflicts of interest can easily happen. D. Both A & B B. Boards of directors need to maintain their independence from executives. C. Absence of agency risk is apparent.
The way that organizational deviance differs from the other forms of deviance discussed in this book is that, with all the other forms: A.behavior is evaluated by audiences. B.the behavior being evaluated is caused by deviant beliefs. C.a character flaw is detected in the actor by audiences and hence, stigmafollows. D.everyone in the society could be evaluated along the relevant dimension the deviance exemplifies.
Identity, which one of the following is related to ‘adherence to a strict moral or ethical code’. Openness Integrity Fairness Honesty
In teaching about moral development, instructors often point out the threefold nature of morality: It depends on emotional development (in the form of the ability to feel guilt or shame), social development (manifested by the recognition of the group and the importance of moral behavior for the group’s existence), and cognitive development (especially the ability to adopt another’s perspective). How does this perspective of morality relate to ethical reasoning by accountants and auditors?
1. A company that wants to be proactive and decrease unethical temptation should have and enforce: A. Corporate culture B. An ethics statement C. Politics D. All of these E. None of these 2. ________ refers to different behavior patterns among various groups. A. Culture B. Education C. Race D. All of these E. None of these 3. Although people are different, we must: A. Use diversity as a means of resolving conflict B. Remind coworkers of these differences C. Treat everyone with respect and professionalism D. All of these
37. The following are value the auditors provide EXCEPT Group of answer choices Internal auditors serve the public and common interests by making sure that owners receive the return on their investments that they are entitled to, and that the means of generating those profits are within the confines of the law. Internal auditors contribute to the principal-agent relationship by making sure that these duties are defined, that structures are set to ensure behaviors are aligned with these objectives and making recommendations to the board and senior management when there are discrepancies jeopardizing the success of these arrangements. None of the choices Internal Auditors can help management identify, plan for, and respond effectively to the primary and secondary stakeholders, the organization will encounter less pushback and it will likely be able to operate with fewer disruptions. Internal Auditors are change catalyst.