Ethics & Compliance Questions and
Answers | Latest Version | 2024/2025 |
Correct & Version | Correct & Verified
What is the primary purpose of an ethics and compliance program in a company?
✔✔To ensure that the organization operates in accordance with legal, regulatory, and internal
standards
What does the term "conflict of interest" refer to in an ethical context?
✔✔When an individual’s personal interests interfere with their professional duties
What is the role of compliance training in an organization?
✔✔To educate employees about laws, regulations, and company policies to avoid unethical
behavior
Why is it important for organizations to have a whistleblower policy?
✔✔To protect employees who report unethical practices from retaliation
What is the significance of maintaining confidentiality in a corporate setting?
1
, ✔✔It ensures that sensitive company and customer information is protected from unauthorized
disclosure
What should an employee do if they witness unethical behavior at work?
✔✔Report the behavior through the appropriate internal channels
What is the key element of a code of ethics in an organization?
✔✔To provide clear guidelines on how employees should act in various ethical situations
Why is it important for companies to implement anti-bribery and corruption policies?
✔✔To prevent unethical financial practices and ensure legal compliance
What is the role of an ethics officer in a company?
✔✔To oversee the development, implementation, and enforcement of ethics and compliance
programs
What is the purpose of conducting regular ethics audits?
✔✔To evaluate and ensure that company practices align with ethical standards and regulations
2
Answers | Latest Version | 2024/2025 |
Correct & Version | Correct & Verified
What is the primary purpose of an ethics and compliance program in a company?
✔✔To ensure that the organization operates in accordance with legal, regulatory, and internal
standards
What does the term "conflict of interest" refer to in an ethical context?
✔✔When an individual’s personal interests interfere with their professional duties
What is the role of compliance training in an organization?
✔✔To educate employees about laws, regulations, and company policies to avoid unethical
behavior
Why is it important for organizations to have a whistleblower policy?
✔✔To protect employees who report unethical practices from retaliation
What is the significance of maintaining confidentiality in a corporate setting?
1
, ✔✔It ensures that sensitive company and customer information is protected from unauthorized
disclosure
What should an employee do if they witness unethical behavior at work?
✔✔Report the behavior through the appropriate internal channels
What is the key element of a code of ethics in an organization?
✔✔To provide clear guidelines on how employees should act in various ethical situations
Why is it important for companies to implement anti-bribery and corruption policies?
✔✔To prevent unethical financial practices and ensure legal compliance
What is the role of an ethics officer in a company?
✔✔To oversee the development, implementation, and enforcement of ethics and compliance
programs
What is the purpose of conducting regular ethics audits?
✔✔To evaluate and ensure that company practices align with ethical standards and regulations
2
