Question Tag: Integrity

Search 500 + past questions and counting.

  • Filter by Professional Bodies

  • Filter by Subject

  • Filter by Series

  • Filter by Topics

  • Filter by Levels

  • 6 Marks

PSAF – Nov 2024 – L2 – Q5b – Nolan’s Principles of Public Life

Explains four of Nolan’s Seven Principles of Public Life, which guide ethical behavior in public office.

 Nolan’s Seven Principles of Public Life serve as guidelines for ethical behavior in public service. They are not typically enforceable through direct legal actions; instead, they often operate as moral and professional standards shaping the behavior of individuals in public office.

Required:

Explain FOUR of these principles.

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "PSAF – Nov 2024 – L2 – Q5b – Nolan’s Principles of Public Life"

  • 15 Marks

CSME – May 2017 – L2 – SC – Q7 – Corporate Governance

Explain the Nolan principles guiding public life and discuss standards for ethical conduct in the public sector.

Nolan Committee on standards in public life was set up to report on standards of behaviour amongst politicians, civil servants and public bodies. Provide an analysis of Nolan‟s‟ SEVEN Principles of Public Life. (15 Marks)

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "CSME – May 2017 – L2 – SC – Q7 – Corporate Governance"

  • 20 Marks

PSAF – May 2022 – L2 – SA – Q2 – Ethics and Integrity in Public Sector Financial Management

Discuss measures needed for anti-corruption enforcement and ways to detect bid rigging.

Transparency International is committed to advancing accountability, integrity, and transparency. The mission is to stop corruption and promote transparency, accountability, and integrity at all levels and across all sectors of society, while the vision is a world in which government, politics, business, civil society, and the daily lives of people are free of corruption.

Required:
a. Discuss FIVE measures that are needed to ensure transparent, effective, and consistent application and enforcement of laws and regulations on anti-corruption. (10 Marks)
b. Explain TWO ways by which procurement officers can detect bid rigging. (5 Marks)
c. Explain FIVE powers of the Code of Conduct Bureau. (5 Marks)

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "PSAF – May 2022 – L2 – SA – Q2 – Ethics and Integrity in Public Sector Financial Management"

  • 5 Marks

CSME – Nov 2016 – L2 – Q5b – Ethics in Business

Present four fundamental ethical principles for professional accountants and how they motivate compliance.

Present any FOUR fundamental ethical principles that should guide the actions of professional accountants in a way that would motivate a newly qualified accountant to comply with them.

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "CSME – Nov 2016 – L2 – Q5b – Ethics in Business"

  • 10 Marks

CR – May 2021 – L3 – Q3c – Ethical Dilemmas and Actions for a Finance Director

Discuss the ethical dilemmas and potential actions a finance director must take to avoid breaching IFAC's Code of Ethics.

You are the Finance Director of a limited liability company. The company started trading with a handful of employees but now has a workforce of 200. You are aware that staff purchases of goods manufactured by the company are authorised by production managers and then processed outside the accounting system. The proceeds from these sales are used to fund the company’s annual Christmas party, organised for Directors of the company.

Required:
Discuss the possible actions that you will take in order not to breach the fundamental principles of the IFAC’s Code of Ethics. (10 marks)

 

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "CR – May 2021 – L3 – Q3c – Ethical Dilemmas and Actions for a Finance Director"

  • 1 Marks

BMF – Nov 2021 – L1 – SA – Q6 – The Role of Professional Accountants in Business and Society

Question on principles that a professional accountant must comply with.

A professional accountant is required to comply with the following fundamental principles, EXCEPT:

A. Integrity
B. Strategic framework
C. Confidentiality
D. Objectivity
E. Professional behaviour

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BMF – Nov 2021 – L1 – SA – Q6 – The Role of Professional Accountants in Business and Society"

  • 6 Marks

FR – Mar/Jul 2020 – L2 – Q2d – Fundamental Principles of ICAN Code of Ethics

Explanation of five fundamental principles set out in the ICAN code of ethics.

Explain FIVE fundamental principles set out in the ICAN code of ethics.
(5 Marks)

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "FR – Mar/Jul 2020 – L2 – Q2d – Fundamental Principles of ICAN Code of Ethics"

  • 10 Marks

FR – Nov 2023 – L2 – Q5a – Professional and Ethical Issues in Financial Reporting

Discuss potential actions to avoid breaching the five fundamental ethical principles and recommend possible actions in dealing with an ethical situation.

a)
i) Explain how you could potentially act in order not to breach each of the FIVE (5) fundamental principles of the IFAC’s code of ethics. (5 marks)

ii) Recommend FIVE (5) possible actions that you should take as a member of the Institute of Chartered Accountants, Ghana in dealing with the situation. (5 marks)

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "FR – Nov 2023 – L2 – Q5a – Professional and Ethical Issues in Financial Reporting"

  • 5 Marks

AA – May 2021 – L2 – Q2a – Professional and Ethical Considerations

Explain the five fundamental principles of the Code of Ethics for audit practitioners.

The IFAC Code of ethics governs the practice of auditing to ensure that practitioners will act in the public interest. Furthermore, in an audit, many relevant auditing standards must be followed to perform work that will serve the needs of the users of the Auditor’s report.

Required:
Explain each of the FIVE (5) fundamental principles of the Code of Ethics and conduct for professional audit practitioners. (5 marks)

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "AA – May 2021 – L2 – Q2a – Professional and Ethical Considerations"

  • 5 Marks

FR – Nov 2016 – L2 – Q5b -Professional and Ethical Issues in Financial Reporting

Discuss the ethical considerations for partners and accountants in the amalgamation process.

Amalgamating two or more firms into one presents ethical challenges.

Required:
Discuss TWO ethical considerations that the partners and their accountants should take into account in the process of the amalgamation of the partnerships.

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "FR – Nov 2016 – L2 – Q5b -Professional and Ethical Issues in Financial Reporting"

  • 10 Marks

FR – Aug 2022 – L2 – Q5a – Professional and Ethical Issues in Financial Reporting

Discuss the potential ethical issues in breaching IFAC’s Code of Ethics and recommend actions to deal with the ethical dilemma in the context of project reporting.

You are a newly qualified accountant in practice, and you lead a team providing management consultancy services. In recent years, your practice has undertaken several assignments on manufacturing efficiency improvements for medium-sized, listed groups of companies in Ghana. One of the Regional Directors has requested an urgent investigation into Project A due to delays and potential cost overruns. After some initial investigation, your team discovers significant issues that could cause a delay of at least three months and additional costs of GH¢7 million to GH¢10 million, not including possible compensation claims.

One week before the final report is due, the Finance Director of the group calls you and asks for an update on Project A’s status. He mentions that the Regional Director informed the Board that the additional costs would only be GH¢4 million to GH¢5 million, with a delay of about six to eight weeks. He asks for confirmation of this information before the upcoming Board meeting, where they will discuss remedial actions for the group’s cash flow.

Required:

i) Discuss the potential ethical issues involved in breaching the fundamental principles of IFAC’s Code of Ethics. (5 marks)
ii) Recommend the possible actions that you should take as a newly admitted member of the Institute of Chartered Accountants, Ghana, in dealing with this ethical dilemma. (5 marks)

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "FR – Aug 2022 – L2 – Q5a – Professional and Ethical Issues in Financial Reporting"

  • 3 Marks

TX – May 2019 – L3 – Q3D – Ethical principles in taxation

Examine the ethical and professional issues that tax consultants must consider when dealing with taxpayers.

d) Section 18 of the Revenue Administration Act 2016 (Act 915) makes provision for the use of Tax Consultant by a taxpayer.

Required:
Examine THREE (3) ethical and professional issues that a tax consultant may consider in dealing with a taxpayer. (3 marks)

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "TX – May 2019 – L3 – Q3D – Ethical principles in taxation"

  • 10 Marks

CR – April 2022 – L3 – Q3b – Regulatory framework and ethics

Explain the ethical principles involved in the given scenario and recommend the appropriate actions based on the IFAC Code of Ethics.

b) You are a newly qualified accountant in your fifth year of employment in a limited liability company. Your immediate supervisor has been on sick leave, and you are due for study leave. You have been told by the Finance Director that, before you go on leave, you must finish a task that should have been completed by your immediate supervisor. The deadline suggested to complete the task appears unrealistic, given the complexity of the task.

You feel that you are not sufficiently experienced to complete the task alone and would need additional supervision to complete it to the required standard. The Finance Director appears unable to offer the necessary support in this regard. Should you try to complete the work within the proposed timeframe but fail to meet the expected quality, you could face repercussions on your return from study leave. You feel slightly intimidated by the Finance Director and also feel pressure to do what you can for the company in these challenging times.

Required:

i) Using the IFAC Code of Ethics as a guide, explain the ethical principles that apply in the above scenario. (5 marks)

ii) Recommend the possible actions that you should take as a member of the Institute of Chartered Accountants, Ghana (ICAG), in dealing with this ethical dilemma. (5 marks)

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "CR – April 2022 – L3 – Q3b – Regulatory framework and ethics"

  • 10 Marks

CR – Nov 2021 – L3 – Q3c – Regulatory Framework and Ethics

Assess the ethical principles breached in a workplace scenario and recommend actions in accordance with the IFAC Code of Ethics.

Linda is a junior member of an audit firm and has just returned to work after taking compassionate leave to care for her sick mother. For financial reasons, Linda needs to work full-time. Linda has been having difficulties with her mother’s home care arrangements, causing her to miss several team meetings, which usually occur at the start of each day, and she needs to leave work early as well.

In terms of her capabilities, Linda is very competent at her work, but her frequent absence puts severe pressure on her and her overworked colleagues. Linda’s manager knows that workflow through the practice is coming under intense pressure, and in order that the team’s output is not affected, had a discussion with the audit team on Linda’s circumstances. This has, however, led to some members of the audit team undermining Linda at every given opportunity, putting Linda under even greater stress.

Required:

i) In accordance with the IFAC’s code of ethics, assess THREE (3) possible fundamental ethical principles that might have been breached. (5 marks)
ii) Recommend the possible actions that the manager should take as a member of the Institute of Chartered Accountants, Ghana in dealing with this ethical dilemma. (5 marks)

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "CR – Nov 2021 – L3 – Q3c – Regulatory Framework and Ethics"

  • 10 Marks

CR – Aug 2022 – L3 – Q3c – Regulatory framework and ethics

This question discusses ethical breaches committed by staff members and the finance director related to cash management and accountability in Gogo Ltd.

Mr. Ben Terkper, the Finance Director of Gogo Ltd, is known to be very strict in managing his staff and his dealings with other employees. A new product introduced by the company is yielding high sales. This has led to increases in cash shortages. In order to reduce the cash shortages, Management employed Hannah, a cousin of the Managing Director, Mr. Okantey.

It is the policy of the company to recover cash shortages made by cashiers by the end of the next working day. Over the years, Mr. Terkper has applied this policy without fear or favor. However, since her employment as a cashier, Hannah has made several cash shortages that have come to the attention of Mr. Terkper and Mr. Okantey. However, Hannah has never been asked to refund any of the cash shortages made so far. The financial statements for the year ended 31 December 2021 are being prepared, and Mr. Okantey has instructed Mr. Terkper to write off the losses made by Hannah.

Required:

i) Assess the possible ethical breaches committed by Hannah, Mr. Terkper, and Mr. Okantey. (4 marks)

ii) Recommend FOUR (4) possible actions that should be taken in dealing with the ethical breaches raised above. (6 marks)

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "CR – Aug 2022 – L3 – Q3c – Regulatory framework and ethics"

  • 10 Marks

CR – Nov 2019 – L3 – Q3c – Regulatory framework and ethics

Identify ethical challenges for a finance director in finalizing financial statements and recommend actions in compliance with IFAC’s Code of Ethics.

c) Fiagja Ltd is a retail trading company in Ghana. Nana Yaw Kawula (member of ICAG) is the finance director and has been in this role for many years. Fiagja Ltd has a year-end of 30 June each year. Nana Yaw Kawula is finalizing the financial statements for the year ended June 30 2019.

On one hand, the warehouse manager of Fiagja Ltd has recently advised Nana Yaw Kawula of a significant level of slow-moving inventory, and that the inventory in question is now more than seven months old and per the company policy would usually have been written down some months previously.

On the other hand, the shareholders of Fiagja Ltd are trying to sell the company, and the Chief Executive Officer (CEO) who happens to be the majority shareholder of Fiagja Ltd has told Nana Yaw Kawula that it is not necessary to write down the inventory values in the year-end financial statements.

Nana Yaw Kawula is sure that the CEO wants the financial statements to carry an inflated inventory valuation because he has found a prospective buyer for the company. The CEO has indicated to Nana Yaw Kawula that, if the proposed deal is indeed successful, all employees will keep their jobs (including Nana Yaw Kawula) and the finance director (Nana Yaw Kawula) will receive a pay rise.

Required:
i) Explain how the finance director could potentially act in order not to breach the fundamental principles of the IFAC’s code of ethics. (5 marks)
ii) Recommend the possible actions that the finance director should take as a member of the Institute of Chartered Accountant (Ghana) in dealing with this ethical dilemma. (5 marks)

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "CR – Nov 2019 – L3 – Q3c – Regulatory framework and ethics"

  • 10 Marks

CR – Mar 2023 – L3 – Q3c – Regulatory framework and ethics

Analyze ethical principles breached in payroll and recommend actions for addressing ethical dilemmas.

BYF Health Facility offers varied medical services; it is known for its high-quality laboratory services. In 2021, the company added to its laboratory services, testing for Covid-19 following the increased demand by airlines that travelers must have negative Covid-19 status either through PCR or Antigen tests. Consequently, the company recruited additional workers in the year to work in the new Covid-19 Lab on a part-time basis. All part-time employees (Locum staff) are paid based on hours worked, either on an 8-hour or 12-hour cycle.

As a precondition, part-time workers are to log in and also log out on every working day, for hours worked to be computed by the log-in device.

Bismark Appau (Bismark), a brother of the Director of Health Services of BYF Health Facility, is one of the employees who was employed on a part-time basis at the Covid-19 Lab on an 8-hour cycle. Bismark has permanent employment with KBT hospital and hardly gets time to work at the Covid-19 Lab of BYF Health Facility. However, in preparing payroll of Locum staff, the Director of Health Services continuously insists that in the case of Bismark, the full hours for the total working days in the month on the 8-hour cycle should be used, regardless of the hours he worked. Colleague workers are aware of this special treatment to Bismark, and are unhappy about this preferential treatment.

Required: i) Based on the scenario above, justify the possible ethical principles that might have been breached and its effect on productivity. (6 marks)

ii) Recommend the possible actions to be taken in dealing with this ethical dilemma. (4 marks)

 

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "CR – Mar 2023 – L3 – Q3c – Regulatory framework and ethics"

  • 10 Marks

CR – July 2023 – L3 – Q3b – Regulatory framework and ethics

Identify ethical issues in financial statement adjustments and recommend actions for the new Finance Director to address these breaches.

b) Axim Manufacturing plc has just employed Mr. Kennedy Owusu as the Finance Director of the company. The previous Finance Director, Mr. Ebenezer Anokye, completed the financial statements for the year ended 31 December 2021 before he left. The Auditors of the company are also done with the audit of the financial statement for the year, expressing an unmodified opinion on the accounts. Mr. Ebenezer Anokye is loved by the General staff, Management members and the Board of Directors for his ability in making the organisation profitable over the years, and “guaranteeing” increased end-of-year bonus payments to staff, as a consequence.

Mr. Kennedy Owusu wanted to familiarise himself with the operations of the company, and therefore decided to go through the financial statements for the previous year. He is dismayed to find several errors in the financial statements. The previous Finance Director, Mr. Ebenezer Anokye, passed several adjusting entries in January, 2022 to reflect in the 2021 financial statements. In one of such instances, Mr. Ebenezer Anokye recognised revenue on a large order received on December 28, 2021 but shipped on January 3, 2022. The narration or explanation given to this adjusting entry is, “omission of previous year sales, now recorded”.

Also, purchase of inventory in October 2021, which was fully sold by the end of the year had been recognised in January 2022. Finally, depreciation expense had been reduced by GH¢230,000. All these adjustments were designed to increase profit after tax or earnings per share, culminating in increased bonus payment to Management and the General staff.

Required:

i) Identify the ethical issues involved in the adjustments made by Mr. Ebenezer Anokye.

(5 marks)

ii) Recommend the possible actions that Mr. Kennedy Owusu, the new Finance Director, should take to resolve the ethical breaches and to reverse the wrong accounting treatments. (5 marks)

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "CR – July 2023 – L3 – Q3b – Regulatory framework and ethics"

  • 10 Marks

CR – Dec 2022 – L3 – Q3c – Regulatory Framework and Ethics

Address ethical issues surrounding special treatment of a cashier at Salisu Medical Centre and propose remedies.

Salisu Medical Centre runs 24-hour services every day. To ensure smooth cash collection from walk-in clients, the company also operates a 24-hour cash office. The cashiers work on a shift basis to cover the morning, afternoon, evening, and night services. There are five (5) cashiers employed by the firm, who are all supposed to work at least once in each of the shift periods before the year ends. Jennifer, one of the cashiers, has never worked on night duties since she was employed. The Finance Director of the company prepares the duty roster (time-schedule) for the cashiers’ shifts together with the Chief Cashier.

Jennifer’s special treatment has been continuously justified by the Finance Director due to her place of abode being far from the workplace. However, there are other cashiers who come on night-shift staying in her vicinity.

Jennifer is also known in the company for her frequent “excuse” duty from Doctors at the medical centre, allowing her to stay away from work, as well as her spontaneous use of annual leave days, sometimes obtaining additional casual leave. This behavior of Jennifer continuously affects workflow at the Cash Office, leading to another cashier being called to stand in for her, resulting in overtime payments for that cashier.

The conduct of Jennifer and the manner in which the Finance Director handles her case has caused concern among the other cashiers.

Required:

i) Describe the ethical issues involved and their implications on work output at Salisu Medical Centre.
(4 marks)

ii) Recommend possible measures that could be instituted to prevent such ethical challenges in the future.
(6 marks)

(Total: 10 marks)

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "CR – Dec 2022 – L3 – Q3c – Regulatory Framework and Ethics"

  • 6 Marks

CSEG – May 2016 – L2 – Q5c – Business ethics

Identify and justify fundamental ethical principles that could be breached in two scenarios involving financial reporting and providing tax advice.

You recently qualified as a professional accountant and received promotion in your company. One of your key responsibilities is to prepare management accounts to facilitate management decision making. You require important sales information from the sales department to incorporate into the final figures. Unfortunately, due to staff sickness and other inefficiencies, the sales report for the month has been delayed. Thus, you will not receive the information until few hours before the accounts are due for presentation to the Chief Finance Officer.

In a related situation, while on lunch break, you overhead the marketing manager asking another employee in the finance department to advise her on some investment decisions she has to make. She has recently inherited a considerable sum of money and would like your colleague to calculate her inheritance tax as well as capital gains tax liabilities.

Required: Identify the fundamental ethical principle(s) that could be in breach and justify why they may constitute a breach. (6 marks)

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "CSEG – May 2016 – L2 – Q5c – Business ethics"

Elevate your professional expertise across key business domains with our comprehensive training programs

Our offerings

Contact Info

  • +233203701923
    +233543919232
  • info@nbcinstitute.com

Customer

Get In Touch

Follow us on our social media and get daily updates.

Facebook-f Twitter Linkedin-in Envelope

NBC Institute

Hello! How can I help you today?
Oops!

This feature is only available in selected plans.

Click here to view all plans

Click on the login button below to login if you’re already subscribed to a plan or click on the upgrade button below to upgrade your current plan.

Login
Upgrade Plan

If you’re not subscribed to a plan, click on the button below to choose a plan

Subscribe to a plan