Ethics for Professional Accountants
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Questions and Answers

What is the primary goal of acting diligently and in accordance with applicable technical and professional standards?

  • To ensure compliance with relevant laws and regulations (correct)
  • To avoid legal liability
  • To maintain a good reputation in the industry
  • To increase profit margins

    • Which of the following is an example of a self-interest threat?

  • A professional accountant has a beneficial interest in a client's performance (correct)
  • A client tries to harass a professional accountant
  • A professional accountant is asked to promote a client's product
  • A professional accountant is too sympathetic to a client due to a close relationship

    • What is the main purpose of respecting the confidentiality of information acquired as a result of professional and business relationships?

  • To comply with relevant laws and regulations (correct)
  • To avoid legal liability
  • To maintain a good reputation in the industry
  • To protect clients' interests

    • Which of the following is an example of a familiarity threat?

    <p>A professional accountant is too sympathetic to a client due to a close relationship</p> Signup and view all the answers

    What is the key principle of professional behavior that is relevant to anti-money laundering?

    <p>Compliance with relevant laws and regulations</p> Signup and view all the answers

    Which of the following is an example of an intimidation threat?

    <p>A client tries to harass a professional accountant</p> Signup and view all the answers

    What is the main purpose of maintaining professional knowledge and skill at the level required to ensure that a client receives competent professional service?

    <p>To ensure competent professional service</p> Signup and view all the answers

    Which of the following is relevant to tax evasion prevention?

    <p>Compliance with relevant laws and regulations</p> Signup and view all the answers

    Which of the following is an example of an advocacy threat?

    <p>A professional accountant is asked to promote a client's product</p> Signup and view all the answers

    What is the key principle of professional behavior that is relevant to personal data protection?

    <p>Confidentiality</p> Signup and view all the answers

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