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6. Select the ALL correct statements on whistleblowing. The best practice of whistleblowing is to report...

6. Select the ALL correct statements on whistleblowing.

The best practice of whistleblowing is to report illegal acts to your direct manager.

External investigators are a better option compared to internal audit for investigating the whistleblowing report.

Whistleblowers tend to be company insiders who have a strong moral compass.

It’s important to keep the whistleblower anonymous through a confidential whistleblower reporting mechanism.

7. Which example could impair independence in appearance?


One of your family members is connected to a client of your organization.

You provide paid services on your time off to a company customer.

You offer a client a worse product for your own sales target.

You accept expensive gifts from a client.

Solutions

Expert Solution

(6) Ans:

c. Whistleblowers tend to be company insiders who have a strong moral compass.

d. It’s important to keep the whistleblower anonymous through a confidential whistleblower reporting mechanism.

Whistle blower policy is a code of conduct policy explains the ideal behaviour and actions of employees within the organisation. The whistle blower policy gives authority to employees to raise their concern in case they come across any type of improper act or violation of code of conduct which includes Fraud, scam etc.

Whistle blower should be safegaurded against victimisation. The protection to the whistleblower is provided under 2 areas:

  1. The whistle blower person confidentiality should be taken into account
  2. Generally, the identity of whistleblower is kept confidential in case of retaliation except for the reason that they are required to be shared as per the demand of investigation or laws.

Incorrect Answers: The best practice of whistleblowing is to report illegal acts is not to your direct manager but direcctly to the Top Management or Board.

External investigators are a better option compared to internal audit for investigating the whistleblowing report. - No, It will be with in the employees.

(7) Ans. (a) One of your family members is connected to a client of your organization

Independence in appearance is the absence of circumstances that would cause a reasonable and informed third party, having knowledge of the relevant information, to reasonably conclude that the integrity, objectivity, or professional skepticism of audit organization or member of the audit team had been compromised.

All the other Options impair Independence in mind.

jeff jeffy answered 2 years ago
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