Flashcards
Financial Statements Ethics
Cards in this deck (6)
- 1What are the AAT's 5 fundamental principles of ethics?Integrity
Objectivity
Professional competence and due care
Confidentiality
Professional behaviour - 2You are asked to produce a report from figures that are not up to date due to a computer problem. A colleague suggests using averages to get it done. Which principle is in issue?Integrity
You should report the problem to your manager and ask for an extension for the report - 3You have received a letter asking for financial information regarding a customer to secure a rental property asap? Which principle is in issue?Confidentiality
You must have the customer's permission before disclosing information and protect the information's confidentiality when sending - 4A friend tells you she is going to inherit and asks you about taxation matters which is not your specialism Which principle is in issue?Professional competence and due care
you are not qualified and should advise your friend to contact someone who is - 5A grateful client offers you a free weekend break in France Which principle is in issue?Objectivity
The gift is of significant value, and how may they expect you to act in the future? - 6Name 2 safeguards that could be put in place to prevent principles being compromised in the work environmentEducation and training
Quality controls and internal controls
Ethics cute/officer
Whistleblowing policy