ICAEW ACA Certificate Level · Assurance and Risk Fundamentals
Professional ethics and regulatory issues
9 practice questions, each with the answer and an explanation.
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Random questions from this topic, one at a time. You see the answer and the explanation straight after each one.
All 9 questions
- Which list gives the five fundamental principles in the ICAEW Code of Ethics?
- A firm prepares a client's financial statements and then audits the same financial statements. Which threat does this create?
- An audit senior's sister has recently become the finance director of an audit client. Which threat does this mainly create?
- Which threat arises when 40% of an audit firm's annual fee income comes from a single audit client?
- Which of the following is a safeguard against the self-review threat when a firm provides both accounting and audit services to a client?
- In which of the following circumstances may an accountant disclose confidential client information?
- An accountant has submitted a suspicious activity report about a client. Which of the following would be a criminal offence?
- An employee of an accountancy firm suspects that a client is laundering money. To whom should the employee make an internal report?
- An accountant in a company is asked by the finance director to value a complex financial instrument, which is outside the accountant's expertise. Which response is most appropriate?
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