1. An important attribute of professionalism is the exercise of professional judgment. Which one of the following statements is NOT consistent with this statement? A. Professionals are required to comply in practice with rules and regulations, and to apply accounting concepts B. Professionals must be capable of applying their knowledge with skill to define the right problems as well as to solve them C. Professionals must be aware of the uniqueness, uncertainty, and instability in filtuations and how the value conflicts that arise from this may affect their Fixigament A formai education process is insufficient for an individual to acquire nrofessional status. Accountants must also learn to apply professional judgment to identifying and resolving problems it mudel of responsible decision making can be built upon a foundation of: A. Code of behavior and professionalism B. Integrity, honesty and technical competence C. Governance, corporate accountability and ethics D. Disclosure to regulatory authorities For Australia, direct responsibility for monitoring the effectiveness of the auditor independence requirements rests with: A. IFAC B. FRC C. AASB D. AUASB