Factsheet - Gifts and Benefits

Factsheet

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Author

IIA-Australia

Date

2023

Topics Explored

Risk Management

Format

Factsheet

Extract/Description

Gifts and benefits are often provided to attract favourable attention and outcomes for the giving party.

Key Points

1. Even if a gift is not linked to a conflict of interest, there may still be a problem in that a gift may influence a person’s objectivity – the quality or character of being objective / lack of favouritism toward one side or another / freedom from bias. 

2. A conflict of interest can be actual (real), perceived or potential.

Relevant Industries

All

Level of Assumed Knowledge

Intermediate

Aligned to Global Internal Audit Standards

No