Ethics for Professional Accountants Quiz

What is the fundamental principle related to being straightforward and honest in all professional and business relationships?

• Integrity

• Objectivity

• Professional Competence and Due Care

• Confidentiality

Which threat occurs when a professional accountant promotes a position to the point that subsequent objectivity may be compromised?

• Familiarity threat

• Self-review threat

• Self-interest threat

• Advocacy threat

What is the ethical aspect that focuses on setting ethical standards and rules in a company?

• Rights and equitable treatment of shareholders

• Integrity and ethical behaviour

• Protection of interest of other stakeholders

• Roles and responsibilities of board

How should a professional accountant solve ethical dilemmas ?

• By specifying the alternatives

• By ignoring the issue

• By not seeking professional advice

• By avoiding the conflict resolution process

How can a professional accountant maintain confidentiality in their work?

• By disclosing client information to competitors

• By sharing confidential information on social media

• By ensuring client information is only disclosed to authorized individuals

• By selling client data for personal gain

Which threat arises when a professional accountant is in a position to benefit financially or otherwise by acting unethically?

• Familiarity threat

• Self-review threat

• Self-interest threat

• Advocacy threat