CPC Quiz on Fundamental Principles

Bob, a professional accountant at AB Accountants Inc., holds a financial investment in a client. He informed his supervisor about his personal investment in the company. He was therefore not assigned to that particular client. Which one of the fundamental principles has Bob displayed?

• Confidentiality

• Professional Behaviour

• Objectivity

• Integrity

• Professional Competency and Due Care

Thando, a professional accountant, enrolled herself for an online course on LinkedIn learning about the new Revenue stardard (IFRS15). She was unfamiliar with the new stardard as she completed her accounting dergee in 1998 at UNISA. Which one of the fundemental principles has she demonstrated?

• Objectivity

• Confidentiality

• Professional Behaviour

• Professional Competence and Due Care

• Integrity

Susy, a professional accountant, was assigned to the audit of ABC Ltd. The CEO explained that they are planning to list on the JSE within the next few months. No annoucement of this has been made to the public yet. She told her husband that they need to invest in ABC Ltd as soon as possible. Which of one of the fundemental principles has Susy breached?

• Objectivity

• Confidentiality

• Professional Competence and Due Care

• Professional Scepticism

Mike and Thobile are trainee accountants at TK Auditors Inc. They are required to complete mandatory online training on the new accounting and auditing standards. This is an individual training and they are not allowed to share their answers. Thobile completed the training and shared his answers with Mike. Which one of the fundamental principles has Thobile breached?

• Objectivity

• Independance

• Integrity

• Confidentiality

Mike and Thobile are trainee accountants at TK Auditors Inc. They are required to complete mandatory online training on the new accounting and auditing standards. This is an individual training and they are not allowed to share their answers. Thobile completed the training and shared his answers with Mike. By accepting the answers shared by Thobile, has Mike also breached the fundemental principles?

• Yes

• No