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The role and responsibility of the financial manager

4.4 Regulatory impact

The extent to which the financial manager's actions are scrutinised by
regulators is determined by:

 the type of industry – some industries (in particular the privatised
utility industries in the UK) are subject to high levels of regulation.

 whether the company is listed – listed companies are subject to
high levels of scrutiny.

4.5 Ethical impact

The financial manager is responsible for ensuring that the actions of the
company:

 are ethical

 are grounded in good governance

 achieve the highest standards of probity

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