Liabilities and Proportionate procedures: Difference between pages

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imported>Doug Williamson
(Expand first definition.)
 
imported>Doug Williamson
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1. ''Financial reporting''.
''Criminal law - Bribery - UK.''


In financial reporting, liabilities are amounts or obligations of a reporting entity arising from past transactions or events, the settlement of which may result in the transfer or use of assets, the provision of services or other yielding of economic benefits in the future.
The UK Bribery Act 2010 requires that the procedures an organisation puts in place to combat bribery should be proportionate to the risks the organisation faces, and to the nature, scale and complexity of its activities.  


Examples include overdrafts, trade payables, accruals and provisions.
Senior management need to demonstrate their commitment to preventing bribery and this commitment must be communicated to persons associated with the organisation.


Liabilities are represented in the balance sheet by credit balances.


==See also==
* [[Associated person]]
* [[Bribery]]
* [[Bribery Act]]


2.
[[Category:Accounting,_tax_and_regulation]]
 
[[Category:Ethics_and_corporate_governance]]
More generally, liabilities are any obligations or amounts owed to others (whether or not they are obligations of a financial reporting entity).
 
 
== See also ==
* [[Assets]]
* [[Balance sheet]]
* [[Capital]]
* [[Compound instrument]]
* [[Credit balance]]
* [[Disaggregation]]
* [[Equity]]
* [[Exemption clause]]
* [[Fair value]]
* [[Financial liability]]
* [[Financial reporting]]
* [[Indemnity clause]]
* [[Interest gap]]
* [[Liabilities and equity]]
* [[Mismatch]]
* [[Net assets]]
* [[Off balance sheet finance]]
* [[Offset]]
* [[Overdraft]]
* [[Provision]]

Revision as of 08:11, 9 November 2018

Criminal law - Bribery - UK.

The UK Bribery Act 2010 requires that the procedures an organisation puts in place to combat bribery should be proportionate to the risks the organisation faces, and to the nature, scale and complexity of its activities.

Senior management need to demonstrate their commitment to preventing bribery and this commitment must be communicated to persons associated with the organisation.


See also

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