Multiple Choice
Which of the following is a challenge related to customers in sales that can contribute to the risk of fraud, according to the Fraud Triangle?
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6. Internal Controls and Reporting Cash
Fraud and the Fraud Triangle
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When facing an ethical dilemma related to fraud, what is the most appropriate action a manager should take?
A
Attempt to resolve the issue privately without following company procedures.
B
Participate in the unethical activity to maintain team harmony.
C
Consult the company's code of ethics and report the issue to the appropriate authority.
D
Ignore the situation to avoid conflict with colleagues.
Verified step by step guidance1
Understand the nature of the ethical dilemma by identifying the specific fraudulent activity and its implications for the company and stakeholders.
Review the company's code of ethics or policies to determine the appropriate course of action for addressing ethical concerns.
Document the details of the situation, including evidence of the fraud, individuals involved, and any relevant circumstances, to ensure clarity and accuracy when reporting.
Report the issue to the appropriate authority within the organization, such as the compliance officer, ethics committee, or human resources department, as outlined in the company's procedures.
Follow up on the report to ensure that the issue is being addressed appropriately, while maintaining confidentiality and professionalism throughout the process.
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