Month: March 2025

ICAEW’s Investigation Committee has recently investigated a complaint brought by a client against Bash and Co, a firm of chartered accountants.

The Investigation Committee has found that there is a case to answer and has offered an unpublicised caution to the firm.

The firm does not, however, agree that there is a case to answer.

In such circumstances, Bash and Co have a right to ask that the case be considered by the ……?

Select ONE answer:

1. Appeal Committee
2. Disciplinary Committee
3. Financial Reporting Council
4. Prudential Regulation Authority

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 2

1. Not correct
2. Correct == > If members disagree with a decision of the Disciplinary Committee (rather than the Investigation Committee) then cases might be referred to the Appeal Committee. Neither the Financial Reporting Council nor the Prudential Regulation Authority is relevant in this context.
3. Not correct
4. Not correct

This work is licensed under a Creative Commons Attribution 4.0 International License.

ICAEW’s Professional Standards department is responsible for implementing the ICAEW’s disciplinary procedures, including the handling of complaints against members.

The complaint against Bash and Co about an audit it has performed, which has just been brought to the Department’s attention, is already in the public domain.

It is so serious that it might affect the reputation of the accountancy profession in general.

In such circumstances, the department may refer the matter straight to?

Select ONE answer:

1. The FRC’s professional discipline team within its Conduct Division, running the Accountancy Scheme
2. The FRC’s professional oversight team within its Conduct Division
3. The FRC’s audit quality review team within its Conduct Division
4. The Financial Conduct Authority

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 1

1. Correct == > The Department may refer the matter straight to the professional discipline team at FRC under the Accountancy Scheme in these circumstances.
2. Not correct
3. Not correct
4. Not correct

This work is licensed under a Creative Commons Attribution 4.0 International License.

Part A of the ICAEW Code of Ethics establishes the fundamental principles of professional ethics for professional accountants and provides a conceptual framework for applying those principles.

Which ONE of the following are stated as fundamental principles in the ICAEW Code of Ethics?

Select ONE answer:

1. Professional competence and due care,
2. Independence
3. Persuasiveness
4. Reliability

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 1

1. Correct == > The fundamental principles established by the ICAEW Code of Ethics are integrity, objectivity, professional competence and due care, confidentiality and professional behaviour.
2. Not correct
3. Not correct
4. Not correct

This work is licensed under a Creative Commons Attribution 4.0 International License.