Answered: The character fundamental on which…

The character fundamental on which public trust is placed on accountants is A independence. B adequate training. C objectivity. D integrity.

Business/Professional Ethics Directors/Executives/Acct

8th Edition

ISBN:9781337485913

Author:BROOKS

Publisher:BROOKS

Chapter4: Practical Ethical Decision Making

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: Explain the relevance of law to accountants in their capacity as business owners. Include any…

A: The importance of the role of professional accountants in business in ensuring the quality of…

Q: A management accountant who avoids conflicts of interest meets the ethical standard of…

A: The correct answer is Integrity.

Q: nt in a local firm. Your firm is thinking of establishing ethical guidelines for management…

A: Many managers think of ethics as a question of personal scruples, a confidential matter between…

Q: Competence as a certified public accountant includes all of the following except: a Having the…

A: A certified public accountant is a professional and qualified accountant to perform accounting…

Q: Describe which professional organization(s) would most likely be of greatest value to you if…

Q: Which of the following point is related to institutional factors that affect the accounting quality?…

A: A financial accounting’s value is determined largely by its quality. Accounting quality means that…

Q: The Standards of Ethical Conduct for management accountants include concepts related to: A) B) C) D)…

A: Following is the answer to the given question

Q: Professional behaviour refers to the obligation that all members of the professional bodies: a.…

A: Professional bodies are the professional organizations whereby the professional individual tend to…

Q: Auditor conducts management interview as a part of evaluation of internal control a. To understand…

A: The procedures that are being implemented on the entity to maintain the unbiased financial reporting…

Q: Identify to what ethical theories these quotations best relate. Explain your answers in 3 to 5…

A: Code of Ethics for Professional Accountants - The IFAC code of ethics for professional accountant is…

Q: how accounting information helps shareholders and lenders to make decisions concerning the…

Q: A management accountant who avoids conflicts of interest meets the ethical standard of a.…

A: Managerial accounting: Managerial accounting is the process of identifying, measuring, analysing,…

Q: Respond to this topic by indicating what you think are the top three ethical problems facing…

A: Bookkeeping: Bookkeeping is the course of recording and coordinating all the deals that have…

Q: hen discussing and evaluating professional ethics, it is essential to understand the purpose,…

A: Professional Ethics - It is a field that is concerned with both corporate and personal standards of…

Q: Business ethics is about managing ethics in an organizational context and involves applying…

A: Decision-making process: Decision making can be defined as the process of making choices through the…

Q: refers to a culture that is open, honest and communicate the values of the organization to persons…

A: Ans. The culture set by board of directors, audit committee and corporate officers throws a great…

Q: Discuss the importance of personal competence, professional judgment, and ethical behavior onthe…

A: Accountant: Accountant is a well trained professional who carry out accounting function for the…

Q: Identify the relevance of “Professional Competence and Due Care” with one of the following options.…

A: Solution:- The following option relevant of “Professional Competence and Due Care” as follows…

Q: Competence as a certified public accountant includes all of the following except: A. Having the…

A: The above question is related with the professional ethics code of AICPA

Q: Name the four areas in which standards of ethical conduct exist for management accountants. What…

A: Ethics implies the arrangement of rules that the association ought to follow. While in business,…

Q: .)The debacles of Enron, Arthur Andersen, and WorldCom have influenced the ethical environment of…

A: Answer: There has been misconduct in the compliance of the financial statements and hence corporate…

Q: Economics (a) Which would you choose as the priority for ethical behaviour in the accounting…

A: Comment; We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: Which of the following ethical principles states that "A professional accountant should avoid any…

A: A professional accountant is required to act in a particular way during carrying his duties. A…

Q: Why is the public’s image of the accounting profession important and how does Ethics for Accountants…

A: Accounting is the presentation of the financial results to show the true and fair view of accounts.…

Q: hat is an integrated report? Reflect on the fundamental and ethical role of financial accountants in…

A: Integrated Report: An integrated report is a documentary collection of Organizational- 1)…

Q: Throughout this book, emphasis has been placed on the concept of independence as the most…

A: Answer:- Auditor meaning:- An auditor is that person who is authorized to examine and verify the…

Q: Which of the following term is related to the compliance of business ethics? O a. Public image O b.…

A: The entity needs to comply with their business ethics for long term growth and focus on both…

Q: How are financial accountants pressured when they need to make ethical decisions in their work? Is…

A: The GAAPs provide the guidelines on accounting policies to be followed in the preparation and…

Q: 7. The following are value the auditors provide EXCEPT Group of answer choices Internal auditors…

A: Answer: The following are value the auditors provide EXCEPT: Internal auditors serve the public…

Q: 5. Discuss the importance of personal competence, professional judgment and ethical behavior on the…

A: i) Importance of personal competence , professional judgement and ethical behavior on the part of…

Q: Which of the following is not included in the Code of Ethics for professional accountants? a.…

A: Professional accountants of the company means accountants that have a valid degree. Ethics means…

Q: Explain the professional ethical responsibility of an accountant and TWO(2) possible courses of…

A: An audit report is issued by the independent accountant that contains the opinion on whether the…

Q: GIVE 3 JUSTIFICATIONS AND ELABORATE YOUR ANSWER

A: Code of Ethics is a set of ethics set for professional to do his/her dulty in more efficient manner

Q: Name the four areas in which standards of ethical conduct exist for management accountants in the…

A: Management Accounting:

Q: Which among the following are the reasons why regulation of the accounting profession is essential?…

A: Following is the answer to the given question

Q: In teaching about moral development, instructors often point out the threefold nature of morality:…

A: Emotional development enables someone to feel shame. An accountant will feel shameful of…

Q: Choose someone from the business or accounting world who you think is an authentic leader and…

A: Person chosen is Warren Buffett

Q: Good ethical behaviour may require acting beyond the requirement of the law. In a highly competitive…

A: A professional accountant's code of ethics is a set of rules that they must observe while on the…

Q: Describe two (2) of the fundamental principles from the accountant’s Code of Professional Conduct…

A: Consequentialist is the theory which states that action is good or bad grounded on the outcome. The…

Q: Explain detail about Ethical values and principles in management accounting give two examples

A: Some of the ethical values and principles in management accounting are as follows: 1) Competence: As…

Q: 1 Identify the relevance of “Professional Competence and Due Care” with one of the following…

A: An audit is a process of checking and verifying the books of account and financial information of…

Q: a) List and briefly the main threats to independence and objectivity as identified in IESBA's Code…

Q: Which of the following is not a code of ethics for professional accountants? Professional behavior…

A: THE CODE OF ETHICS ESTABLISHES A CONCEPTUAL FRAMEWORK FOR ALL THE PROFESSIONAL ACCOUNTANTS TO ENSURE…

Question

The character fundamental on which public trust is placed on accountants is

A independence.
B adequate training.
C objectivity.
D integrity.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

{Auditing} 48. Identify the relevance of “Professional Competence and Due Care” with one of the following options. a. Duty of Auditor b. Powers of auditor c. Code of Ethics for professional accountants d. Role of Regulatory and professional bodies
I. MAS involves decision making of practitioner for the management to meet its goals.II. A CPA’ scope of management services is broad and covers financial and non-financial engagement including audit engagements, as this is within the expertise of CPA. A• True True B• False False C• False True D• True False
What are the ethical responsibilities ofmanagement accountants?
Identify the relevance of “Professional Competence and Due Care” with one of the following options. a. Duty of Auditor b. Powers of auditor c. Code of Ethics for professional accountants d. Role of Regulatory and professional bodies
Describe the role of professional judgment in ethical leadership as it pertains to accountants and auditors.
Distinguish between ethical rights and obligations from the perspective of accountants and auditors.
Which of the following are important factors in ensuringthe integrity of accounting information?a. Institutional factors, such as standards for preparinginformation. b. Professional organizations, such as the American Insti-tute of CPAs. c. Competence, judgment, and ethical behavior of individ-ual accountants.
1. Give one example of an ethical standard from the conceptual framework that accountants have to follow and briefly apply it to a self-created scenario.
Assess TWO ethical responsibility of Management Accountants in fulfilling their roles. Give relevant examples.
Which of the following are affected by the quality of an organization’s internal controls? a. Reliability of financial data. b. Ability of management to make informed business decisions. c. Ability of the organization to remain ¡n business. d. All of the above. e. Only a and c.
What roles must a professional accountant be prepared to perform in regard to ethical decisionproblems?
Which of the following is not one of the basic standards of the Institute of Management Accountants (IMA) Code of Ethics? Multiple Choice Integrity Honesty Confidentiality Competence