Which of the Following Is Not an Element of Effective

question 36

Multiple Choice

Which of the following is not an element of effective ethics and compliance programs?

• A) compliance standards
• B) systems for monitoring, auditing, and reporting
• C) delegation of authority
• D) enforcement

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Definitions:

Doctrine of Ultra Vires

A legal principle stating that acts done beyond the scope of power of a corporation or governmental entity are invalid or void.

Corporate Law

The body of laws, regulations, and practices that govern the formation and operation of corporations.

Dividend Tax Credit

A tax credit that investors can claim in many jurisdictions for taxes already paid by a corporation on the dividends it distributes to shareholders.

Tax Legislation

Laws and regulations governing the imposition, administration, and enforcement of taxes by the government.