Ethical issues in Financial

Management
 Accounting
• Financial Accounting
• Financial Management
 Financial Accounting

• Financial Accounting
• Managerial Accounting
 Financial Accounting

• Financial statements
• Financial Data
• Provides a picture of Business
 Managerial Accounting

• Analysis by internal users

• Relevance and flexibility of data
• Future probability
 Financial Management
• Financial Analysis and planning
• Investment decisions
• Financial & Capital structure decisions
• Management of financial resources
 Financial Manager
• Providing & Interpreting financial information
• Business modeling & forecasting
• Monitoring Performance & efficiency
• Risk management
• Strategic planning
Ethical issues in Finance
 Ethical issues in Finance
• In financial markets
• In financial services industry
• By financial people in organization
 Ethical issues in financial markets
• A set of rules & Code of conduct not followed
• Personal interest
• Manipulation of data
 Ethical issues in financial services
• Fraud in banks
• Types of bank fraud
 Frauds in insurance sector
• Internal fraud against the insurer
• Policy holder fraud committed against the
insurer
• Intermediary fraud committed against the
insurer
 Frauds in insurance sector
• Possibilities of fraud at policy proposal stage
• Possibilities of fraud during the policy contract
term stage
• Fraud possibilities at claim stage
• Fraud in non-life insurance sector
 Combating Insurance fraud
• Collection of proper evidence
• Need for regulation
• Regulation of allied services
• Need for judicial corporation
• Insurers should aim at conviction
 Combating Insurance fraud
• Need for transparency
• Insurers coalition
• Building consumer awareness
• Rewards for whistle-blowers
• Effective legislation