What is conflict of interest and how do you resolve in an organisation?

Q: What is an agent, and what is a principal? Whatkinds of situations in companies give rise to…

A: Agent: The agent is the person authorized by the principal or business to act on behalf of them.…

Q: Do firms have any responsibilities to society atlarge?

A: The answer is Yes, firms have a lot of responsibilities to the society. Also, small businesses still…

Q: What does the Good internal control helps ensure?

A:

Q: What are the advantages of using HRMS in an organisation?

A: (1) Improved data management. HRMS can handle all employee information as well as…

Q: What are agency problems?

A: Owners of the company are shareholders. The number of the shareholders for a corporation will be…

Q: issue of legitimacy is

A: Legitimacy is the obeying of laws and regulations. It is important because an organization is a part…

Q: What is management fraud?

A: Fraud:   It is an intentional misappropriation of the assets or the financial records of an…

Q: How could companies avoid entering into ethical conflicts in the global environment?

A: Ethical aspects have to be considered and applied by all the organizations; so that, the business…

Q: What is the difference between "Comptroller" and "Controller"?

A: Meaning - Comptroller is the person responsible for audits and expenses of the government. The…

Q: Why should responsibility for related transactions be divided among different departments or…

A: Internal control: Internal control is a process which ensures continuous reliability of…

Q: What steps should a management accountant take if established written policies provide insufficient…

A: Management accountants are the risk managers, prepare budgets and helps manager in taking various…

Q: Which of the following is not part of the definition of internal control? Separation of duties…

A: Explanation:

Q: Explain two ways organisations can use corporate disclosure policy to maintain or regain…

A: Corporation: The form of business entity ,which is incorporated by state law into a separate legal…

Q: What rules or policies should be developed to avoid the ethical problem?

A: Ethical problems: These kinds of problems arise when while making decisions neither of the options…

Q: Stakeholders are the individuals or groups who: a. Are the shareholders in key competitors b.…

A: Business means the economic or professional activity which is done by an entrepreneur and their…

Q: What is the relevance of the police officer to the decision making of an entity?

A: Decision Making Strategy Decision making is an important process in the organisation to make…

Q: How can intranet expansion increase risk to an organization?

A: Organization: Organization refers to the group of organized people with a particular purpose of…

Q: How does the enterprise risk management influence the internal control detective identified?

A: Introduction: Control is a managerial function that aids in measuring actual performance by…

Q: What is the link between the internal control environment and accountability?

A:

Q: What is the conclusion of accountability and transparency in terms of policing?

A: Accountability  in terms of policing.  Police accountability ensures that officers can work together…

Q: entity's control environment.

A: Control environment is a component of internal control system.

Q: Where do you think the venue for resolution should be if a conflict arises?

A: MEANING OF CONFLICT A conflict means anything where two individuals disagree upon anything or any…

Q: potential bias in management's ncerns,

A: Option 1 is wrong because the management' bias in estimation calculations is to be considered to…

Q: Should organisations operate in the interest of shareholders or the stakeholders?

A: Stakeholder means those person who use and study the financial statement and make the appropriate…

Q: Using an imaginary company draft a conflict of interest policy for the entire organization

A: answer A conflict of interest policy is used to draft procedure for employees when a possible…

Q: Which of the following is not a factor that influences a business's control environment?…

A: Business control environment: This business control environment is an internal control that operates…

Q: What type of internal control is establishing a code of ethics?

A: A code of ethics contains the principles and procedures guiding people to act in desired manner…

Q: Do ethical standards have anything to do with culture and diversity?

A: Ethical standard The founders of the organization created a set of ethical guidelines to explain the…

Q: What is a social contract and how does it relate to organisational legitimacy? and Explain two ways…

A: A social contract refers to a way in which a business interacts with society. As per social contract…

Q: ways on how to avoid conflict of interest in an organization.

A: Conflict of interest in an organization arises when the management and the employees do no share…

Q: What is the possible agency conflict between inside owner/managers andoutside shareholders?

A: Agency conflict: The conflict of interest of two parties one which is the principal and other which…

Q: Why is ethical behavior important to business?

A: Ethics: Ethics is a system of acceptable beliefs to control behavior and activities that are…

Q: What types of circumstances would encourage management to establish a complex organizational…

A: The process by which financial transactions of the business are recorded and communicated with the…

Q: . What is an agency relationship? When you firstbegin operations, assuming you are the onlyemployee…

A: Answer: An agency relationship is nothing but a relationship between agent and the principal under…

Q: How do you resolve conflict of interest in an organization?

A: An organisation operates with individuals having different beliefs, tendencies and backgrounds.…

Q: Why is a system of internal control not able  to overcome collusion by employees?

A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: Which of the following is not part of the definition of internal control? a. Separation of duties b.…

A:

Q: Which of the following is NOT included in the concept of internal control? O entity's resources O…

A: Internal controls are the set of rules and procedures through which an entity ensures integrity and…

Q: Which of t

A: Options A is a measure to safeguard because continuing the professional development will increase…

Q: Why do companies need internal control?

A: A company id defined as the legal form of business organization, which is incorporated by group of…