17 Questions
What does 'integrity' in the context of accountants imply?
Being honest and straightforward in professional and business relationships
Which of the following is NOT a part of the principles mentioned for accountants?
Personal financial gain
What does 'objectivity' require from accountants?
Acting independently without bias or conflicts of interest
What is the duty of accountants regarding 'professional competence and due care'?
Maintain professional knowledge and skill to provide competent service
Under the principle of 'confidentiality', accountants should:
Respect the confidentiality of acquired information
What does 'professional behaviour' require accountants to do?
Follow all relevant laws and regulations
Which factor distinguishes professionals from other occupations?
Accepting the responsibility of serving public interest
What does 'public interest' mean in the context of accounting?
Serving the entire society rather than just shareholders
How can individual accountants act in the best interest of the public?
Fair dealing with all stakeholders
What is the basis of ACCA’s code of ethics?
International Ethics Standards Boards for Accountants (IESBA)
What is a key role that the accountancy profession plays in upholding public interest?
Sound and factual reporting
What was Ron's initial reaction to the plans proposed by Ann?
He resisted through delaying tactics
How did Ron escalate his opposition to Ann's plans?
By tearing up her proposed organizational chart and budget
Why did Ron say 'I regret the day I ever made that appointment'?
Due to his frustration with the appointment
What was the outcome of Ron's actions towards Ann after six months?
He terminated her contract
How did Ann respond to the termination of her contract at Frigate Ltd?
She returned to the tax authority as a tax inspector
'Professionalism is a very fundamental skill or competence expected from professionals' - based on the text, which of the following falls under professionalism?
Possessing specialist knowledge through intense education and experience
Test your knowledge on accounting principles such as integrity, objectivity, and professional competence. Learn about the importance of honesty, impartiality, and expertise in the field of accounting.
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