A voluntary payment offered, usually surreptitiously, in expectation of a special favor. While offering a bribe is not always illegal, accepting one is unethical or frequently illegal.
The principle of Clean Hands in both business conduct and legal contexts refers to maintaining integrity and ethical behavior, ensuring one has not engaged in improper conduct.
A conflict of interest arises when an individual, such as a public official, faces a clash between their personal interests and their professional responsibilities. This situation can compromise their impartiality and decision-making capabilities.
The Consultative Committee of Accountancy Bodies (CCAB) is a body consisting of five accountancy institutes in the UK and Ireland, aimed at coordinating activities within the profession and maintaining high standards of practice and ethics.
Core values are the fundamental beliefs or guiding principles of an organization or individual. These values dictate behavior and help in decision-making, setting a foundation for organizational culture and personal conduct.
Ethics refers to moral and professional principles that guide the conduct of individuals and organizations. It is crucial for maintaining public confidence and integrity in various professions, including business, accounting, law, and others.
Exploitation refers to the act of taking unfair advantage of individuals or situations to benefit oneself. This term is often associated with a negative connotation, implying unethical or immoral behavior.
The idiom 'feather one's nest' means to make a comfortable and secure living place, often for retirement. It can also imply misappropriating funds for personal benefit.
Hush money refers to cash given to assure the silence of the receiver, often in a manner akin to a bribe. It is typically used to keep certain information confidential, preventing it from becoming public knowledge.
The International Ethics Standards Board for Accountants (IESBA) is an independent body that develops and issues ethical standards for accountants and auditors worldwide.
In legal and ethical contexts, a right refers to a justified claim or entitlement that individuals or groups possess. These rights can be grounded in moral obligations or codified within legal systems, such as Subscription Rights in securities.
Social responsibility involves ethical and societally moral behavior. Socially responsible conduct supports acceptable societal standards and laws.
Unethical behavior or practices refer to actions or conduct that are not in accordance with the established standards of behavior within a business or profession. Being unethical can encompass a wide range of actions that violate moral principles, legal standards, or rules of conduct set by governing bodies in various fields.
A teleological theory of ethics emphasizing that decisions should be made based on achieving the greatest good for the greatest number of people.
A value judgment is a judgment reflecting values and personal opinions. Often, it is a biased opinion influenced by the individual's beliefs, emotions, and biases rather than objective facts.
A whistleblower is an employee who exposes wrongdoing, fraud, or malpractice within an organization, either internally or externally, often legally protected to prevent employer retaliation.
