Ricardo Suspects His Supervisor Simone of Unethical Accounting Practices

question 53

Multiple Choice

Ricardo suspects his supervisor Simone of unethical accounting practices. But Ricardo does not want to report Simone if she will find out who reported her and fire Ricardo. An important feature of online reporting systems like EthicsPoint is that an employee reporting unethical behavior​

• A) ​can do so anonymously.
• B) ​is financially compensated if he or she is fired as a result of a report.
• C) ​must fully identify themselves when making a report.
• D) ​must have additional employee support to make a report.

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Definitions:

ASPE

Accounting Standards for Private Enterprises; a set of accounting principles in Canada designed for private companies, focusing on simplicity and cost-effectiveness in financial reporting.

IFRS

International Financial Reporting Standards, a set of accounting standards developed by the International Accounting Standards Board (IASB) that is global in scope.

Non-Controlling Interest

The portion of a subsidiary corporation's equity that is not owned by the parent corporation.

Consolidated Balance Sheet

A financial statement that summarizes the financial position of a parent company and its subsidiaries.