Tag: Ethics

Bash and Co, a firm of chartered accountants, has recently been offered a consent order by ICAEW’s Investigation Committee.

This means that?

Select ONE answer:

1. The firm could be excluded from membership of ICAEW
2. The firm’s practising certificate could be suspended
3. There is a case to answer but it is not so serious as to warrant either exclusion from membership of ICAEW or suspension of the firm’s practising certificate
4. There would be less publicity than under an order issued by the Disciplinary Committee

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 == > A consent order is offered when there is a case to answer but the case is not so serious as to involve options (1) or (2). Any publicity under a consent order would be the same as under a Disciplinary Committee order.
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. Independence
2. Persuasiveness
3. Confidentiality
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 3

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

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