Which list gives the five fundamental principles in the ICAEW Code of Ethics?
Answer and explanation
Correct answer: A. Integrity, objectivity, competence and due care, confidentiality and professional behaviour
- Step 1: The five fundamental principles apply to all professional accountants.
- Step 2: They are integrity, objectivity, professional competence and due care, confidentiality, and professional behaviour.
Answer
Integrity, objectivity, competence and due care, confidentiality and professional behaviour.
Why not the others: Independence and professional scepticism are important concepts, but they are not among the five principles. Accuracy and transparency are not named principles. Loyalty to the employer is not a fundamental principle and may conflict with the others.
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More Professional ethics and regulatory issues questions
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