Question 1
Question
Ethical behaviour involves choosing [blank_start]actions[blank_end] that are [blank_start]right[blank_end], [blank_start]proper[blank_end], & [blank_start]just[blank_end]. When you work in group in company each member bears some [blank_start]responsibility[blank_end] for [blank_start]well-being[blank_end] of other members. Each member should be willing to [blank_start]sacrifice[blank_end] their own [blank_start]self-interest[blank_end] for [blank_start]well-being[blank_end] of group
Answer
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actions
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right
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proper
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just
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responsibility
-
well-being
-
sacrifice
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self-interest
-
well-being
Question 2
Question
Biggest challenge with ethical dilemmas (problems) is that when they arise, [blank_start]employees[blank_end] frequently do not understand that such dilemma has [blank_start]arisen[blank_end] & [blank_start]“correct”[blank_end] action that should be taken to [blank_start]correct[blank_end] dilemma
Answer
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employees
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arisen
-
“correct”
-
correct
Question 3
Question
One ethical principle is [blank_start]integrity[blank_end]. This means to be [blank_start]straightforward[blank_end] & [blank_start]honest[blank_end] in all [blank_start]professional[blank_end] & [blank_start]business[blank_end] relationships
Answer
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integrity
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straightforward
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honest
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professional
-
business
Question 4
Question
Another ethical principle is [blank_start]objectivity[blank_end]. This means to not allow [blank_start]bias[blank_end], [blank_start]conflict[blank_end] of interest or undue [blank_start]influence[blank_end] of others
Answer
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objectivity
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bias
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conflict
-
influence
Question 5
Question
Third ethical principle is [blank_start]professional competence[blank_end] & [blank_start]due care[blank_end]. This means to maintain professional [blank_start]knowledge[blank_end] & [blank_start]skill[blank_end] at level required to ensure [blank_start]clients[blank_end] or [blank_start]employers[blank_end] receive competent professional services based on current [blank_start]developments[blank_end] in practice, legislation & techniques & act [blank_start]diligently[blank_end] & in accordance with applicable technical & professional [blank_start]standards[blank_end]
Answer
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professional competence
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due care
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knowledge
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skill
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clients
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employers
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developments
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diligently
-
standards
Question 6
Question
Fourth ethical principle is [blank_start]confidentiality[blank_end]. This means to respect [blank_start]confidentiality[blank_end] of information acquired as a result of [blank_start]professional[blank_end] & [blank_start]business[blank_end] relationships & therefore not [blank_start]disclose[blank_end] any such information to third parties without proper & specific [blank_start]authority[blank_end] unless there is legal or professional right or duty to disclose, nor use information for [blank_start]personal[blank_end] advantage of professional accountant or third parties
Answer
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confidentiality
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confidentiality
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professional
-
business
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disclose
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authority
-
personal
Question 7
Question
Fifth ethical principle is [blank_start]professional behaviour[blank_end]. This means to comply with relevant [blank_start]laws[blank_end] & [blank_start]regulations[blank_end] & avoid any action that [blank_start]discredits[blank_end] profession
Answer
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professional behaviour
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laws
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regulations
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discredits
Question 8
Question
One threat to ethical principle is [blank_start]self-interest threat[blank_end]. This means that [blank_start]financial[blank_end] or other [blank_start]interest[blank_end] will inappropriately influence professional accountant’s [blank_start]judgment[blank_end] or [blank_start]behaviour[blank_end]
Answer
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self-interest threat
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financial
-
interest
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judgment
-
behaviour
Question 9
Question
Another threat to ethical principle is [blank_start]self-review threat[blank_end]. This means that professional accountant will not appropriately [blank_start]evaluate[blank_end] results of [blank_start]previous[blank_end] judgment made or activity or service performed by professional accountant, or by another [blank_start]individual[blank_end] within professional accountant’s firm or employing organisation, on which accountant will [blank_start]rely[blank_end] when forming judgment as part of performing [blank_start]current[blank_end] activity or providing [blank_start]current[blank_end] service
Answer
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self-review threat
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evaluate
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previous
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individual
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rely
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current
-
current
Question 10
Question
Third threat to ethical principle is [blank_start]advocacy threat[blank_end]. This means that professional accountant will promote [blank_start]client’s[blank_end] or [blank_start]employer’s[blank_end] position to point that professional accountant’s [blank_start]objectivity[blank_end] is [blank_start]compromised[blank_end]
Answer
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advocacy threat
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client’s
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employer’s
-
objectivity
-
compromised
Question 11
Question
Fourth threat to ethical principle is [blank_start]familiarity threat[blank_end]. This means that due to [blank_start]long[blank_end] or [blank_start]close[blank_end] relationship with [blank_start]client[blank_end] or [blank_start]employer[blank_end], professional accountant will be too sympathetic to their [blank_start]interests[blank_end] or too [blank_start]accepting[blank_end] of their work
Answer
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familiarity threat
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long
-
close
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client
-
employer
-
interests
-
accepting
Question 12
Question
Fifth threat to ethical principle is [blank_start]intimidation threat[blank_end]. This means that professional accountant will be [blank_start]deterred[blank_end] from acting [blank_start]objectively[blank_end] because of actual or perceived [blank_start]pressures[blank_end], including attempts to exercise undue [blank_start]influence[blank_end] over professional accountant
Answer
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intimidation threat
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deterred
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objectively
-
pressures
-
influence
Question 13
Question
Safeguards are [blank_start]actions[blank_end] or other measures that may [blank_start]eliminate[blank_end] threats or reduce them to an [blank_start]acceptable[blank_end] level. They fall into two categories which include: safeguards created by [blank_start]profession[blank_end], [blank_start]legislation[blank_end] or [blank_start]regulation[blank_end] & safeguards in [blank_start]work environment[blank_end]
Answer
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actions
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eliminate
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acceptable
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profession
-
legislation
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regulation
-
work environment
Question 14
Question
Two safeguards created by profession, legislation or regulation are: [blank_start]educational[blank_end], [blank_start]training[blank_end] & [blank_start]experience[blank_end] requirements for [blank_start]entry[blank_end] into profession & continuing professional [blank_start]development[blank_end] requirements
Answer
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educational
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training
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experience
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entry
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development
Question 15
Question
Another two safeguards created by profession, legislation or regulation are: [blank_start]corporate governance[blank_end] regulations & [blank_start]professional standards[blank_end]
Answer
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corporate governance
-
professional standards
Question 16
Question
Final two safeguards created by profession, legislation or regulation are: professional or regulatory [blank_start]monitoring[blank_end] & [blank_start]disciplinary[blank_end] procedures & external [blank_start]review[blank_end] by legally empowered third party of [blank_start]reports[blank_end], returns, communications or [blank_start]information[blank_end] produced by professional accountant
Answer
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monitoring
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disciplinary
-
review
-
reports
-
information
Question 17
Question
One safeguard in work environment is [blank_start]leadership[blank_end] that stresses importance of [blank_start]compliance[blank_end] with fundamental [blank_start]principles[blank_end], [blank_start]laws[blank_end], [blank_start]rules[blank_end] & [blank_start]regulations[blank_end]
Answer
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leadership
-
compliance
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principles
-
laws
-
rules
-
regulations
Question 18
Question
Another safeguard in work environment is documented internal [blank_start]policies[blank_end] & [blank_start]procedures[blank_end] requiring [blank_start]compliance[blank_end] with fundamental [blank_start]principles[blank_end], [blank_start]laws[blank_end], [blank_start]rules[blank_end] & [blank_start]regulations[blank_end]
Answer
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policies
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procedures
-
compliance
-
principles
-
laws
-
rules
-
regulations
Question 19
Question
Third safeguard in work environment is documented [blank_start]policies[blank_end] regarding need to identify [blank_start]ethical threats[blank_end] such as [blank_start]relationships[blank_end] with third parties
Answer
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policies
-
ethical threats
-
relationships
Question 20
Question
Steps in identifying & dealing ethical dilemmas include: Check all facts & [blank_start]document[blank_end] where possible. Then ask ‘is it [blank_start]ethical[blank_end]?' 'Is it [blank_start]legal[blank_end]?' After that [blank_start]identify[blank_end] which fundamental [blank_start]principles[blank_end] are affected & affected [blank_start]parties[blank_end]. Next seek professional or legal [blank_start]advice[blank_end]. Finally, [blank_start]refuse[blank_end] to remain associated with conflict
Answer
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document
-
ethical
-
legal
-
identify
-
principles
-
parties
-
advice
-
refuse
Question 21
Question
First few steps for resolution of ethical conflict are: follow your [blank_start]organisation’s[blank_end] established policies on [blank_start]resolution[blank_end] of ethical conflict. If this does not resolve conflict/organisation has no such policy, discuss [blank_start]issue[blank_end] with your immediate [blank_start]supervisor[blank_end] except when supervisor is involved. If your supervisor is involved, present issue to next level (until audit committee/board of directors, if necessary)
Answer
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organisation’s
-
resolution
-
issue
-
supervisor
Question 22
Question
Next few steps for resolution of ethical conflict if not resolved are: clarify relevant [blank_start]ethical issues[blank_end] by initiating [blank_start]confidential discussion[blank_end] with an [blank_start]independent[blank_end] or [blank_start]impartial[blank_end] advisor to obtain better [blank_start]understanding[blank_end] of possible courses of action. Seek legal [blank_start]advice[blank_end] as to legal obligations & rights concerning ethical conflict
Answer
-
ethical issues
-
confidential discussion
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independent
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impartial
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understanding
-
advice
Question 23
Question
Final step for resolution of ethical conflict if not resolved is [blank_start]refuse[blank_end] to remain [blank_start]associated[blank_end] with matter creating [blank_start]conflict[blank_end] (could include [blank_start]resignation[blank_end])
Answer
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refuse
-
associated
-
conflict
-
resignation