A close personal or business relationship with a client will always cause a loss of independence and objectivity on the part of an investment professional. True False
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- 33) Which threat may occur when, because of a close relationship, a professional accountant becomes too sympathetic to the interests of others? a) Self-interest threats b) Advocacy threats c) Familiarity threats d) Self-review threatsWhich of the following is considered a type of threat to compliance with the Rules of the Code of Professional Conduct? A. Self interest B. Illegitimate skepticism C. Lack of management participation D. IrrevocabilityExplain the problems of adverse selection and moral hazard caused by asymmetricinformation. How can financial intermediaries alleviate those problems?
- Which is not an organization's response to risks? *a. An organization may accept the risk if it is prepared to absorb or mitigate the impact of the risk.b. An organization may take the risk but tries to lower the impact and possibility of occurrence of the risk.c. An organization may take the risk but not the returns that come with it.d. An organization may opt not to take the risk by avoiding the activity with associated risk.Having inaccurate financial statements that can harm society would correspond with the ethical perspective of distributive justice. DiscussPlease answer in detail Explain the purposes of showing more or less profits by the fraudulent director.
- Which of the following is not a measure to safeguard or offset the threats to fundamental Principles? Professional disciplinary procedures Professional behaviour Professional standards Corporate governanceEmployees are more likely to apply their personal values to their behaviour when: those values conflict with the organization's values. the values are abstract. someone reminds them of those values. All of the answers are correct. None of the answers apply.34) Which threat may occur as a result of the financial or other interests of a professional accountant or of an immediate or close family member? a) Familiarity threats b) Self-review threats c) Advocacy threats d) Self-interest threats
- A threat that a CPA will not appropriately evaluate the results of a previous judgment made by, or service performed by, an individual in the CPA's firm is a(n) O advocacy threat familiarity threat O self-review threat O self-interest threat Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.Your para-planner sends out unauthorized information to your client. Your client acts on the information. Are you responsible? A. You are responsible only if the client acts on the information. B. You are not responsible because the client never consulted you C. You are not responsible for the para-planner's actions. D. You are responsibleWhich of the following statements is false regarding the ethical obligations of professional accountants? Multiple choice question. they must seek to maximize the owners' profits. they must continually upgrade their skills in order to be competent their obligations are outlined in a code of ethics. they must treat sensitive information confidentially Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
