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pleaase answer all Question 10 (1 point) What is the name of the organization that establishes global ethics standards for professional accountants? International Federation of

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Question 10 (1 point) What is the name of the organization that establishes global ethics standards for professional accountants? International Federation of Accountants (IFAC) International Ethics Standards Board for Accountants (IESBA) O Public Interest Accounting Oversight Board (PCAOB) International Auditing and Assurance Standards Board (IAASB) Question 11 (1 point) Which is not an example of a threat that is set out in the IESBA Code of Ethics? Self-review threat Self-interest threat Familiarity threat O Management participation threat Intimidation threat O Advocacy threat Question 12 (1 point) Which statement best describes the requirement relating to confidentiality under the IESBA Code? Professional accountants shall not disclose client information to third parties or to the public. Professional accountants are no longer required to maintain confidentiality for former clients. Confidentiality serves the public interest because it facilitates the free flow of information from the professional accountantos client or employing organization. Confidentiality is required to reduce the risk of accounting firms subsequently getting sued by their audit clients and others. Question 13(1 point) Saved The IESBA Code of Ethics became effective on June 15, 2019. Which of the following statements best describes the structure of the IESBA Code of Eth The Code contains three parts, made up of conceptual framework, ethics for accountants in business, and ethics for accountants in public practice The Code contains four parts., made up of conceptual framework, ethics for accountants in business, ethics for accountants in public practice, and the international independence standards The Code consists of two parts, made up of ethics for accountants in public practice and the international independence standards The Code contains six parts, made up of conceptual framework, ethics for accountants in business, ethics for accountants in public practice, ethics for business professionals who deal with accountants, ethics for service providers who deal with accountants, and the international independence standards Question 14 (1 point) Saved What are the names of two national organizations in the USA that promote ethical guidelines for accountants? O OSCPA and ISACA The State Department and the Department of Labor The Auditor of State and the Department of Treasury O The AICPA and IMA Question 15 (1 point) Which statement best describes the concept of a reasonable and informed third party test? The reasonable and informed third party is a concept that is only relevant in assessing materiality. The use of the reasonable and informed third party test is required under the IESBA Code. It involves a consideration by a professional accountant or a firm about whether the same conclusions would be reached by another person who is not necessarily a professional accountant. The reasonable and informed third party is a legal concept and is not relevant in applying the provisions in the IEBSA Code. Regulators and inspectors may use the reasonable and informed third party test to second guest judgments made by the professional accountants or the firm. Question 4 (1 point) Which statements are true about the IESBA Code of Ethics for accountants? Mark all that are true. Although adoption of the IESBA Code is not required by organizations or ry agencies, over 60% of nations globally have adopted the IESBA Code in their jurisdiction. Public accounting firms that perform transnational audits, have committed to use policies and methodologies that conform to the Code due to its robust, high-quality and globally-applicable guidance. The IESBA Code includes the International Independence Statements. The IESBA Code is essentially a summary of all the country level ethics and independence standards. Question 5 (1 point) Which of the statements about independence is false? The threats to the fundamental principles of ethics and threats to independence are generally indistinguishable. Professional accountants in public practice are required to be independent when performing audits, reviews and other assurance engagements. Independence is a fundamental principle of ethics that all professional accountants are required to comply with. Independence is linked to the fundamental principles of objectivity and integrity. Independence comprises of independence in mind and independence in appearance Question 6 (1 point) Eddy Finch, CPA, recently appeared on national TV to discuss the financial position and legal problems of a large corporation, ABC, Inc., that is financially distressed. Eddy was the corporationes most recent independent auditor and he did not discuss his TV appearance with anyone at the corporation. Because the corporation does not have any publicly traded securities, there is very little publicly available information about the corporationes financial position or operating results. Which of the following statements might best describe this situation? Eddie is likely to have violated the professiones NOCLAR standard, which is significant in that CPAs have strict confidentiality requirements with minimal exception to when they can divulge client or employer information without a clientes consent. Eddy was being a responsible citizen and was assuring corporate financial transparency. Eddy cannot be disciplined by his states accountancy board in the USA even though he may have violated a major international ethics principle for accountants Eddy is very knowledgeable about ABCs financial and legal situation so he has a responsibility, protected by the First Amendment of the US constitution, to tell his story publicly

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