What is the main goal of the course on data and ethics?
To explain the ethical issues surrounding data collection, storage, and use.
What do ethics provide in a business context?
Practical guidelines or behavioural rules that direct appropriate behaviours.
Name the six guiding principles of data ethics.
- Ownership
- Privacy
- Consent
- Financial benefit
- Transparency
- Openness
What does the principle of ownership state?
Individuals should own their data.
What does the privacy principle emphasize?
Individuals should be able to limit who has access to their personal data.
Define personally identifiable information (PII).
Data that can identify an individual alone or in conjunction with other data.
What is a potential future risk with data collection?
Sensitive uses of data could arise, such as sharing vehicle data with insurance companies without consent.
What is the aim of anonymising data?
To prevent anyone from being personally identified.
What does the consent principle require?
Data owned by an individual can only be used with their explicit, informed consent.
What is required under the financial benefit principle?
Individuals should be made aware of the financial benefits derived from their data.
What should individuals have access to according to the transparency principle?
The parameters that led to their inclusion in a specific dataset.
What is data security?
A holistic set of strategies, processes, and technologies designed to protect data from unauthorized access.
What is the role of a Chief Information Security Officer (CISO)?
To protect data assets within an organization.
What are the two key considerations of confidentiality for accountants?
- Not disclosing information outside the firm without authority
- Not using confidential information for personal advantage
Under what circumstances can an accountant disclose confidential information?
- Permitted by law and authorized by the client
- Required by law during legal proceedings
- Professional duty or right to disclose
What is the purpose of data protection laws?
To balance the individual’s right to privacy with the business’s need to use data.
Name an example of data protection regulation in Europe.
General Data Protection Regulation (GDPR).
What does the California Consumer Privacy Act (CCPA) focus on?
Data privacy and consumer protection for individuals interacting with California-based companies.
What are the key practices to ensure data security over personal data?
- Collect only the data needed
- Keep data only while it is needed
- Keep data accurate and up to date
- Keep data secure
True or False: Ethics require businesses to go beyond simply complying with the law.
True
Fill in the blank: The principle of _______ suggests that individuals should have meaningful control over their personal data.
Privacy
What is the ethical implication of automated decision making?
It must operate fairly for all groups and communities across society.
What does the principle of openness advocate?
Data used by decision-making bodies should be made readily available to the public.
What is the California Consumer Privacy Act (CCPA)?
A state statute on data privacy and consumer protection for individuals interacting with California-based companies.
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Role and activities of the finance function36
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Finance function role in value creation38
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Key Technologies driving business and finance64
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Leveraging technology in the finance function46
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The changing structure and shape of the finance function40
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Digital age finance function34
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Business organisations57
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Key performance indicators45
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Product Development and Management69
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Sales and marketing61
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Supply Chain Management and Production68
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Human Resources (HR)39
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Information Technology (IT)45
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Getting started with Data and Analytics23
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Meaning of data54
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Data collection and storage38
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Data and ethics41
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Business intelligence44
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Data analysis62
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Data in business44
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Data analytics projects33
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Data presentation27
