Tag: Ethics

The following statements concern the role of the FRC’s Disciplinary Tribunal under the Accountancy Scheme. Identify whether each statement is true or false.

Statement 1 – A Tribunal hearing is less formal than court proceedings but is subject to the same restrictions as a court might have in accepting evidence.

Statement 2 – The accountant or firm which is the subject of the complaint is entitled to attend and be legally represented at the hearings and will have a full opportunity to defend any complaints, present evidence and challenge any evidence against them.

Are these statements true or false?

Select ONE answer:

1. Statement 1 – True and Statement 2 – False
2. Statement 1 – False and Statement 2 – True
3. Statement 1 – True and Statement 2 – True
4. Statement 1 – False and Statement 2 – False

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 == > False and True
3. Not correct
4. Not correct

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

The following statements concern the role of the Disciplinary Tribunal convened by the FRC under the Accountancy Scheme.

Statement 1 – To ensure their independence, no member of a Tribunal can be an officer or employee of any of the accountancy professional bodies, or the FRC.

Statement 2 Tribunal hearings are not normally open to the public, except in exceptional circumstances where the Tribunal decides that this would be in the interests of justice.

Are these statements true or false?

Select ONE answer:

1. Statement 1 – True and Statement 2 – False
2. Statement 1 – False and Statement 2 – True
3. Statement 1 – True and Statement 2 – True
4. Statement 1 – False and Statement 2 – False

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 == > True and False
2. Not correct
3. Not correct
4. Not correct

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

The following statements have been made about the purpose of regulating professions.

Statement 1 – Regulation of professions should protect the public from being misled or from suffering from abuse of power through knowledge or monopoly

Statement 2 – Regulation of professions should protect the profession’s vested interests from competition to maintain public confidence that the public interest is being Safeguarded

Are these statements true or false?

Select ONE answer:

1. Statement 1 – True and Statement 2 – False
2. Statement 1 – False and Statement 2 – True
3. Statement 1 – True and Statement 2 – True
4. Statement 1 – False and Statement 2 – False

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 == > True and False
2. Not correct
3. Not correct
4. Not correct

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

The Financial Reporting Council consists of?

Select ONE answer:

1. Two divisions – the Conduct Division and the Codes a n d Standards Division
2. Two divisions – the Accountancy Division and the Actuarial Division
3. Three divisions – the Audit Regulation Division, the Accountancy Oversight Division and the Professional Discipline Division
4. Three divisions – the Conduct Division, the Codes Division and the Standards Division

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 FRC consists of Conduct Division and the Codes and Standards Division.
2. Not correct
3. Not correct
4. Not correct

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