Ethical Threats in Accounting
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Questions and Answers

What should professional accountants avoid in marketing and promoting themselves?

  • Making exaggerated claims about their services, qualifications, or experience (correct)
  • Using flashy advertisements
  • Competing aggressively with other professionals
  • Providing discounts to attract more clients
  • Which action by professional accountants could potentially bring the profession into disrepute?

  • Making unsubstantiated comparisons to the work of others (correct)
  • Engaging in continuous professional development
  • Following ethical guidelines
  • Being transparent about their qualifications
  • What is a key aspect of professional behavior for accountants?

  • Complying with ethical standards and honesty (correct)
  • Disparaging references to competitors
  • Making exaggerated claims about their services
  • Being dishonest in financial reporting
  • How can threats to compliance with fundamental principles be mitigated?

    <p>By implementing appropriate safeguards</p> Signup and view all the answers

    What type of actions may negatively affect the good reputation of the accounting profession?

    <p>Making exaggerated claims about qualifications</p> Signup and view all the answers

    Which behavior should professional accountants refrain from when promoting themselves?

    <p>Making exaggerated claims about their expertise</p> Signup and view all the answers

    What is a potential threat to compliance with fundamental principles?

    <p>Overlooking conflicts of interest</p> Signup and view all the answers

    What action by professional accountants could lead to disrepute of the profession?

    <p>Making disparaging references to others' work without evidence</p> Signup and view all the answers

    What should professional accountants avoid when marketing their services?

    <p>Making inflated claims about their capabilities</p> Signup and view all the answers

    How should professional accountants handle conflicts that may threaten compliance with fundamental principles?

    <p>By addressing them through appropriate safeguards</p> Signup and view all the answers

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