Flashcards
Ethics
Cards in this deck (16)
- 1What fundamental principle is in place to help establish working practices free from bias?Objectivity
- 2Working under pressure of time and with an unreasonable workload is a threat to what principle?Professional competence and due care
- 3When identifying threats to our fundamental principles if we feel financially threatened by a client, this would be classed as a ......... threat?Intimidation
- 4If a friend askes you to pass on information about a client to help their own business, what principle and threat is involved here?Confidentiality and intimidation
- 5If you have to audit your own work from a previous company you worked for, what type of threat does this represent?Self review
- 6If your client askes you to give a glowing review of one of their products online , what threat is this posing to you the accountant?advocacy
- 7If one of your clients offers to sell you cheap shares in their company, what type of threat does this situation pose?Self-interest
- 8Does the AAT take a principles or rules based approach to ethicsprinciples
- 9What type of insurance should accountants haveprofessional indemnity insurance
- 10What are the three situations when it is acceptable to disclose confidential information?when authorised by client or employer
when disclosure is required by law
when there is a professional duty to disclose. - 11Who should suspicions of money laundering be reported to?NCA
- 12What act of parliament is designed to help protect whistle blowers?The Public Interest Disclosure Act 1998
- 13What is an authorised disclosure?This is when you report that you have been engaged in money laundering or are about to be. The disclosure should help your defence.
- 14What is a protected disclosure?This is when you report a suspion of money laundering and you are protected against charges of breaching confidentiality.
- 15When should an accountant carry out customer due diligence?Before entering into a business relationship with a new client.
When suspious of money laundering/terrorist financing.
When entering a transaction for a significant amount of money. - 16What are the three key components of sustainable development as set out by the Brundtland commission?eceonomic growth
environmental protection
social equality
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- Recapping Ethics for synoptic revision
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- ross young
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