4. Ethics in organisations
?Example question
Which of the following is an approach to ethics which emphasises that the company should act within the letter of the law, and that violations are prevented, detected and punished?
A. Compliance-based
B. Integrity-based
C. Utilitarianism
D. Deontology
END
The role of regulatory and professional F1
bodies in promoting ethical and
professional standards in the
accountancy profession
?International Federation of Accountants (IFAC)
It represents all the major accountancy bodies across the world.
Its mission is to develop high standards of professional
accountants and enhance the quality of service they provide.?Fundamental principles of ACCA
a. Integrity
b. Objectivity
c. Professional competence and due care
d. Confidentiality
e. Professional behaviour
?Example question
You are the auditor for a client of TV manuafacturer. The director of the client has offered you an expensive television as a gift for doing the audit. If you accept the gift, which of the following principle may be threatened?
A. Professional behaviour
B. Objectivity
C. Confidentiality
D. Integrity
2. Personal qualities expected of an accountant
a. Reliability
b. Responsibility
c. Timeliness
d. Courtesy
e. Respect
3. Professional qualities expected of an accountant
a. Independence
b. Scepticism
c. Accountability
d. Social responsibility