Day: November 11, 2026

There are two main approaches to a code of professional ethics: a rules-based ethical code and a principles-based code.

Indicate whether the following statement is true, false, not relevant or depends on the situation.

• ICAEW uses a rules-based approach.

Select ONE answer:

1. Is not relevant
2. True
3. False
4. Depends on the situation

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 3

1. Not correct
2. Not correct
3. Correct – ICAEW uses a principles-based approach.
4. Not correct

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