Insights - Page 6

A director of an organisation, appointed in accordance with the articles of association, who solely or together with others constitutes the managing authority of the organisation.…

A criminal way of making money on the Internet, or online by other means, at the expense of people or organisations. Because IT technology is important to and has an increasing impact on (business) life and society, cyber fraud is increasingly profitable. Unfortunately, this form of fraud can result in…

A manifestation of fraud. We speak of corruption when a person abuses his or her position for personal or business profit. In addition to bribery, corruption includes extortion and undue influence (e.g. due to a conflict of interest). It does not matter whether the recipient, extortionist or instigator of the…

A situation where a person serves multiple interests and where these interests conflict or may conflict and are incompatible with each other. These interests may be either business-related and private interests, or a mixture of the two. Conflicts of interest impair independence and threaten integrity. A conflict of interest is…

A person within an organisation, to whom employees can report confidential matters, such as malpractice and violations of the integrity standards. The confidential adviser can also address and prevent undesirable behaviour such as bullying, harassment and discrimination in the workplace. Integrity, anonymity (if desired) and confidentiality are key elements of…

The organisation chooses to change a previously selected accounting policy. One or more accounting principles for measuring assets and liabilities and determining the result differ from those used in the preparation of prior annual accounts. The Dutch Accounting Standard Board has further elaborated on (the processing approach for) changes to…

Acting within the framework of laws and regulations with inventive use of professional expertise. A characteristic of an organisation with high business integrity is that it acts to prevent conflicts of interest, corruption, fraud, violations of the law and/or other acts that are socially undesirable.…

A chartered accountant (RA) or an accounting consultant (AA). The term accountant is also used to refer to an accounting firm. In these recommendations, the term accountant refers to the accountant who audits the organisation’s annual accounts, or issues a compilation report in connection with them. An accountant may be…