WGU D550 TASK 1 ETHICS FOR
ACCOUNTANTS COMPLETE
ASSESSMENT QUESTIONS AND
SOLUTIONS
◉ Weak Board of Directors
Answer: Conflicts of interest undermine board effectiveness.
◉ Code of Conduct
Answer: Normative guidelines for ethical behavior beyond
legality.
◉ Top Management Support
Answer: Leadership commitment fosters an ethical workplace.
◉ Ethics Training Program
Answer: Educates employees on ethical conduct and policies.
◉ Chief Ethics and Compliance Officer
Answer: Oversees ethics and compliance within an organization.
◉ Internal Auditors
,Answer: Investigate adherence to ethics policies.
◉ Strong Internal Controls
Answer: Prevent and detect unethical behaviors effectively.
◉ Whistleblowing Policies
Answer: Protocols for reporting unethical behavior anonymously.
◉ Ethics Hotline
Answer: Anonymous reporting outlet for ethical concerns.
◉ Ethics Statement
Answer: Document signed by employees affirming ethical
commitment.
◉ Enforcement of Ethics Policies
Answer: Immediate action against violators of ethics.
◉ Rewarding Ethical Behavior
Answer: Incorporating ethics into performance evaluations.
◉ KPMG Integrity Survey
Answer: Assesses employee responses to witnessing misconduct.
, ◉ Employee Perception About Ethics
Answer: Integrity prioritization reduces misconduct and
retaliation.
◉ Social Media Criticism
Answer: Individual comments may not be protected speech.
◉ Concerted Effort
Answer: Group comments on social media are protected.
◉ Fiduciary Duty
Answer: Legal obligation of trust and confidence in management.
◉ Duty of Care
Answer: Act prudently as a reasonable person would.
◉ Duty of Loyalty
Answer: Prioritize corporation's interests over personal gain.
◉ Agency Costs
Answer: Costs arising from conflicts between stakeholders'
interests.
◉ Stewardship Function
ACCOUNTANTS COMPLETE
ASSESSMENT QUESTIONS AND
SOLUTIONS
◉ Weak Board of Directors
Answer: Conflicts of interest undermine board effectiveness.
◉ Code of Conduct
Answer: Normative guidelines for ethical behavior beyond
legality.
◉ Top Management Support
Answer: Leadership commitment fosters an ethical workplace.
◉ Ethics Training Program
Answer: Educates employees on ethical conduct and policies.
◉ Chief Ethics and Compliance Officer
Answer: Oversees ethics and compliance within an organization.
◉ Internal Auditors
,Answer: Investigate adherence to ethics policies.
◉ Strong Internal Controls
Answer: Prevent and detect unethical behaviors effectively.
◉ Whistleblowing Policies
Answer: Protocols for reporting unethical behavior anonymously.
◉ Ethics Hotline
Answer: Anonymous reporting outlet for ethical concerns.
◉ Ethics Statement
Answer: Document signed by employees affirming ethical
commitment.
◉ Enforcement of Ethics Policies
Answer: Immediate action against violators of ethics.
◉ Rewarding Ethical Behavior
Answer: Incorporating ethics into performance evaluations.
◉ KPMG Integrity Survey
Answer: Assesses employee responses to witnessing misconduct.
, ◉ Employee Perception About Ethics
Answer: Integrity prioritization reduces misconduct and
retaliation.
◉ Social Media Criticism
Answer: Individual comments may not be protected speech.
◉ Concerted Effort
Answer: Group comments on social media are protected.
◉ Fiduciary Duty
Answer: Legal obligation of trust and confidence in management.
◉ Duty of Care
Answer: Act prudently as a reasonable person would.
◉ Duty of Loyalty
Answer: Prioritize corporation's interests over personal gain.
◉ Agency Costs
Answer: Costs arising from conflicts between stakeholders'
interests.
◉ Stewardship Function
