The Auditing Practices Committee (APC) develops auditing standards and guidelines that ensure effective audit practices in accordance with legal and regulatory requirements.
Under the Bribery Act 2010, bribery refers to the offering, giving, receiving, or soliciting of any 'financial or other advantage' to induce or reward the improper performance of a public function or business activity.
The practice of mixing personal funds with client or customer funds by a fiduciary or trustee, which is generally prohibited by law unless an exact accounting is maintained.
Legislation governing the activities of companies in the UK, with a comprehensive overhaul implemented in the Companies Act 2006.
An officer of a company with duties that encompass administrative tasks, legal compliance, and increasingly broader managerial roles.
Counsel refers to an attorney or legal adviser who provides advice or aid concerning legal matters. Counsel can represent clients in court, offer legal opinions, and guide individuals and businesses through legal complexities.
Counterfeit refers to items or documents that are forged, imitated, or fabricated without authorization, usually with the intent to deceive and pass the imitation off as genuine.
A customs invoice is an essential document used in international trade to declare goods being imported or exported, prepared particularly for customs authorities to ensure legal and efficient handling of shipments.
A 'Doing Business As' (DBA) is a designation used when an individual or company operates under a name different from its legal, registered name.
A dual contract is an illegal or unethical practice in which two different contracts are provided for the same transaction. One contract reflects a larger amount and is used to apply for a loan, while the real contract is for a lower amount.
Employer interference refers to a broad category of unfair labor practices whereby employers unlawfully influence, coerce, or restrain employees in exercising their rights to join, assist, or refrain from labor organizations. Governed by Section 8(a) of the National Labor Relations Act (NLRA), these practices seek to ensure fair and free participation in labor activities.
Fund accounting is a system used by nonprofit organizations and governments to track resources and ensure accountability and compliance with legal requirements, rather than focusing on profitability.
A License Bond is an instrument that guarantees compliance with various city, county, and state laws that govern the issuance of a particular license to conduct business.
Management methods used to limit the extent of losses when they do happen. Practicing strict legal compliance with all environmental laws and safety procedures as well as maintaining good public relations is extremely important in managing loss reduction when unfortunate situations develop.
Permissible Capital Payment (PCP) relates to how much cash or other financial considerations a company is allowed to return to shareholders according to legal or regulatory standards, primarily through processes such as share buybacks or reductions in capital.
The Personnel Department, now commonly known as the Human Resources (HR) Department, is an organizational unit responsible for the administration of personnel policies and ensuring legal and proactive implementation of these policies.
A Register of Charges is a statutory document maintained to record details of charges created by a company on its assets to secure debt. It is crucial for maintaining transparency and protecting creditor rights.
A transaction intended to create the appearance of rights and obligations different from the actual intended agreements to deceive other parties, often tax authorities.
Structuring a deposit involves breaking down large financial transactions into smaller ones to avoid triggering scrutiny from financial institutions or authorities.
Workers' Compensation, Coverage A refers to a type of insurance agreement where an insurer commits to covering all compensation and benefits that an insured employer is legally obligated to provide under state-specific workers' compensation laws.
