ASSIGNMENT
1) Discuss why offering a payment can constitute a bribe, even if the illegal payment is never actually made. Support your answer with accounting terminology and examples.
2) Jones is the manager of ABC Auto Repair. Unbeknownst to his employer, Jones also does freelance auto repair work to earn extra cash. He sometimes uses ABC's facilities and tools for these jobs. Discuss the costs and potential costs that ABC might suffer as a result of Jones's actions.Support your answer using the following topics:
• Misuse of non-cash assets: this is the unauthorized use of company assets for non-company purposes.
• Conflicts of interest:Conflict of interest arises when an employee receives an undisclosed benefit from a transaction he conducts for his or her employer, or where the employee becomes involved in a transaction that conflicts with his or her duties to the employer. It does not matter whether the employer suffers a loss a conflict of interest arises from divided loyalties.
3) Provide References.