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Professional and corporate ethics

4.2 Conflicts of interests

The potential threats which may lead to conflicts of interest and lack of independence
were discussed in detail in the audit and compliance chapter.

These are:

 self-interest

 self-review

 advocacy

 familiarity

 intimidation

4.3 Ethical threats and safeguards

An ethical threat is a situation where a person or corporation is tempted
not to follow their code of ethics.

An ethical safeguard provides guidance or a course of action which
attempts to remove the ethical threat.

Illustrations and further practice

Now try TYU question 4

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