IN ITS BROAD SENSE, corruption may be seen as the abuse of public office for private gain. The term encompasses abuses by government officials, such as embezzlement and nepotism, as well as activities that cross public and private sectors, such as bribery, extortion, influence peddling, and fraud.
QUESTIONS: FILL IN THE BLANKS
Refer to Chapter 5 in Corporate Fraud and Internal Control: A Framework for Prevention.
1. The term corruption can signify different things to different people and its interpretation is partially based on ___________ .
2. Where large-scale corruption occurs, it typically bleeds resources from the ___________ and from the provision of essential ___________ .
3. Widespread corruption has the effect of ___________ that part of society that cannot afford to pay bribes and kickbacks.
4. In addition to bribery, corruption can take the form of ___________ , abuse of public assets, ___________ of public monies to private interests, as well as ___________ of privileged information and _________________________________ and executives' discretion.
5. Overall, corruption can undermine ___________ in institutions and governments while ___________ and even damaging economies with impacts that can last tens of years.
6. Bribery can become the ___________ of doing business where lunches on the company become vacations at company expense, ...