Which one of the following code of ethics, shows the way to professional accountant to comply with the relevant laws and regulations and should avoid any action that discredits the profession? a. Objectivity b. Confidentiality c. Professional Behavior d. Integrity

Which one of the following code of ethics, shows the way to professional accountant to comply with the relevant laws and regulations and should avoid any action that discredits the profession? a. Objectivity b. Confidentiality c. Professional Behavior d. Integrity

Business/Professional Ethics Directors/Executives/Acct

8th Edition

ISBN:9781337485913

Author:BROOKS

Publisher:BROOKS

Chapter6: Professional Accounting In The Public Interest

Section: Chapter Questions

Problem 5Q

See similar textbooks

Related questions

Q: 30-Which of the following statements relating to internal and external auditors is correct? i)…

A: Internal auditors are those auditors which are from the internal of the organisation, it means these…

Q: Which of the following are not the rights of the auditors? a) The right to all information and…

A: Option D none of the options given is the correct statement... All of the following are the rights…

Q: 27. Which of the following statements are True? a) The financial statements are management's…

A: The main objective of an audit of financial statements is to obtain reasonable assurance about…

Q: 44. Statement 1. Publicly listed companies are recommended to have a qualified Chief Audit…

A: Answer: Statement 1. Publicly listed companies are recommended to have a qualified Chief Audit…

Q: Question 4 a) Auditors are regulated by professional bodies and should follow recognized auditing…

A: (Since you have posted multiple questions, we will solve the first question for you. For the…

Q: Mr. Bader is leaving his Auditing Firm to become the Finance Director of his client company. The…

A: Auditing is an important process that every company should carry on. The financial statements may…

Q: {Auditing} 48. Identify the relevance of “Professional Competence and Due Care” with one of the…

A: Professional Competence and Due Care to guarantee that a company or employer obtains adequate…

Q: general safeguards, to offset the Threats to Fundamental Principles of professional ethics?

A: Option a is wrong because continuing professional development requirements are to be complied with…

Q: Mr. Bader is leaving the accounting practice to become the Finance Director of a client company. The…

A: The principles of the code of ethics are: Objectivity Integrity Confidentiality Professional…

Q: Under the AICPA Code of Professional Conduct, which of the following rules is not applicable to CPAs…

A: AICPA (American Institute of Certified Public Accountants) code of professional conduct sets rules,…

Q: A professional accountant should act diligently and in accordance with applicable technical and…

A: Solution: A professional accountant has a continuing duty to maintain professional knowledge and…

Q: 42 A professional accountant is one who has expertise in the field of accountancy, achieved through…

A: The term "audit" refers to the process of determining the information's trustworthiness and…

Q: 20. A primary purpose for establishing a code of conduct within a professional organization is to:…

A: For a professional organisation, code of conduct means those rules, principles and guidelines that…

Q: Performing tasks for which an accountant is not competent is unethical’

Q: Cite practices that you know which may violate the basic principles of professional ethics for…

A: "Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Which of the following Threats to The Fundamental Principles of professional ethics, that may occur…

A: According to Threats to The Fundamental Principles of professional ethics,Self interest threat may…

Q: 38. This approach is useful for compliance reviews where operators should do what the contract,…

A: Answer: This approach is useful for compliance reviews where operators should do what the…

Q: What is the AICPA's Code of Professional Conduct and give some examples

A: AICPA stands for American Institute of Certified Public Accountants. It is the national premier…

Q: Registered auditors have skills and knowledge to perform their functions and they should be…

A: Auditing refers to the process of inspecting and evaluating all the financial statements and data of…

Q: AICPA Code of Professional Conduct. Reread the Module B introduction about ScottLondon,…

Q: 4. Which of the following statements clearly conflicts with the recommended procedures for…

A: The CFA institute standards of practice handbooks provide the code of conduct related to the…

Q: 45. Avoiding misconduct and doing what is right, just, and fair relates to a business's: A. economic…

A: As a small business owner, you want to make a profit and grow your business. That's why you went…

Q: 50. Which of the following rules of conduct would fall under Integrity? Group of answer choices…

A: Code of conduct are the ethical rules, regulations and guidelines that an auditor must follow in…

Q: not the rights of the auditors

A: The statements a, b, c and d are wrong because they are the rights of the auditors. For the purpose…

Q: Question 6 Which of the following is an example of an "Advocacy" threat to compliance with which of…

A: Auditing refers to the evaluation of companies' books of accounts and financial reports prepared by…

Q: Summarize your thoughts on the Zelf articles. (1-2 paragraphs). Do you regard the CPA profession as…

A: A Certified Public Accountant provides professional service to its clients. They generally provide…

Q: 20. Which of the following is not a fundamental principle of ethics for Professional accountants? a.…

A: Solution: Following are the fundamental principle of ethics for Professional accountants: 1.…

Q: A. Only 1 statement is True B. Only 2 statements are True C. All statements are True D. All…

A: The answer for the multiple choice question and relevant explanation are presented hereunder : A…

Q: QUESTION 3 The IFAC international Ethics Standards Board for Accountant (IESBA) Code of Ethics for…

A: Five Major threats identified in the code of ethics: 1.Self Interest Threat 2.Self-review threat…

Q: From the options given below find the reason/s to regulate the inefficiency in accounting profession…

A: Inefficiency in accounting profession means taking undue advantage in maintaining official records…

Q: An auditor’s client consent in writing is required before an auditor can disclose any information…

A: A professional accountant shall comply with principle of confidentiality, which requires an…

Q: QUESTION 1 Registered auditors have skills and knowledge to perform their functions and they should…

A: South African Institute of Chartered Accounts (SAICA) has issued a code of professional conduct…

Q: Auditors are periodically punished for holding an investment in a client. This violates Integrity…

A: An auditor (IA) is an individual or company who audits the books of accounts and financial…

Q: A professional accountant should comply with relevant laws and regulations and should avoid any…

A: Solution: Professional behaviour is the fundamental principle of professional ethics which convey…

Q: Explain the professional ethical responsibility of an accountant and TWO(2) possible courses of…

A: An audit report is issued by the independent accountant that contains the opinion on whether the…

Q: From the options given below find the reason/s to regulate the inefficiency in accounting profession…

A: The profession under which the activities relating to the maintenance of accounting books,…

Q: A professional accountant should be straightforward and honest in all professional and business…

A: Integrity: A professional accountant should be straightforward and honest in all professional and…

Q: Following the American Institute of Certified Public Accountants (AICPA) code of professional…

A: All AICPA members must adhere to a strict Code of Professional Conduct that mandates them to behave…

Question

Which one of the following code of ethics, shows the way to professional accountant to comply with the relevant laws and regulations and should avoid any action that discredits the profession?

Objectivity

Confidentiality

Professional Behavior

Integrity

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

What other professional business organizations have a code of ethics?
17. A professional accountant should act diligently and in accordance with applicable technical and professional standards when providing professional services. Which of the following Fundamental principles of professional ethics matching with the above? a. Confidentiality b. Objectivity c. None of the options d. Integrity
6. Which of the following Threats to The Fundamental Principles of professional ethics, that may occur as a result of the financial interests of a professional accountant in a client company. a. Advocacy threat b. Self-interest threat c. Self review threat d. Intimidation threat
24. A professional accountant should comply with relevant laws and regulations and should avoid any action that discredits the profession. Which of the following Fundamental principles of professional ethics matching with the above? a. Objectivity b. Integrity c. None of the options d. Confidentiality
20. Which of the following is not a fundamental principle of ethics for Professional accountants? a. Integrity b. Advocacy c. Objectivity d. Confidentiality
Describe two (2) of the fundamental principles from the accountant’s Code of Professional Conduct and critically evaluate whether they are an example of consequentialist, non-consequential or virtue ethics
Question 1 In order for public to have confidence in work perform by professional accountants it is essential to have a system regulation. Regulation can take the form of both ethical and statutory guidance. Required; a) State the five threats contained within IESBA's Code of Ethics for professional Accountants and for each threat list one example of circumstance that might create the threat. b) Explain the Auditor's ethical responsibilities with regards to client confidentiality and when they have obligatory responsibility to disclose client information on a voluntary responsibility to disclose client information. Compliance with the fundamental principles in IESBA's Code of ethics for Professional Accountants can be threatened in a number of ways. Required; c) Explain each of the five fundamental principles of IESBA's Code of Ethics for Professional Accountants. d) List the five ethical threat to independence and objectivity and for each threat identify one example of a circumstance…
20. A primary purpose for establishing a code of conduct within a professional organization is to: Group of answer choices Require members of the profession to exhibit loyalty in all matters pertaining to the affairs of their organization. Demonstrate acceptance of responsibility to the interests of those served by the profession Reduce the likelihood that members of the profession will be sued for substandard work Ensure that all members of the profession perform at approximately the same level of competence
Identify to what ethical theories these quotations best relate. Explain your answers in 3 to 5 simplesentences: 2. “A distinguishing mark of the accountancy profession is its acceptance of the responsibility to act in thepublic interest. Therefore, a professional accountant’s responsibility is not exclusively to satisfy the needs ofan individual client or employer.” IFAC, Code of Ethics for Professional Accountants
Economics (a) Which would you choose as the priority for ethical behaviour in the accounting profession: “protect the public interest” or “protect the credibility of the profession?” Explain, providing an example. (b) Explain the affiliation between the fiduciary relationship and conflict of duties when a professional accountant provides a service to a client. Provide an example
18. Which of the following is/are the general safeguards, to offset the Threats to Fundamental Principles of professional ethics? a. Continuing professional development requirements b. All the given options c. Professional standards d. Professional or regulatory monitoring and disciplinary procedures
12. A professional accountant should be straightforward and honest in all professional and business relationships, meaning ____________. a. Integrity b. Objectivity c. None of the given options d. Confidentiality