JSS2 Business Studies Lesson Note on Book Keeping Ethics: Due Process

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TOPIC:  BOOK KEEPING ETHICS: DUE PROCESS                    

MEANING OF DUE PROCESS

This is act of doing something according to laid down rules or procedures or the process that should be followed in doing things.

 Attributes of due process

The following are the attributes of due process;

1. Truthfulness
2. Openness
3. Fairness
4. Impartiality
5. Respect for the rule of law.
6. Equity

Let’s   take a closer look at each of the attributes;

Truthfulness is the act of saying the truth always.

Openness is the act of making one’s action and operation clear to all.

Fairness means giving equal consideration to all. etc.

PROBLEMS CREATED BY LACK OF TAP AND THEIR SOLUTIONS;

PROBLEMS:   

• Increase in the incidence of bribery
• Influence peddling
• Disregard for the rule of law.
• Nepotism ie giving jobs only to your relations
• Increase in the incidence of fraud
• Increase in the incidence of extortion by those dealing with the public
• Embezzlement of public funds
• Perversion of the justice system
• Bad government and bad governance
• Lack of integrity
• Diversion of public funds into private pockets
• Low foreign direct investment
• Lack of accountability

Poor public infrastructure like roads, water and electricity

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