2 - Professional Ethics and Responsibilities

Question 1

What does forensic examination refer to?

Answer 1

Refers to that part of a professional’s practice that is carried out to provide an EXPERT opinion

Question 2

What does forensic accountant refer to?

Answer 2

Refers to a professional who performs an orderly analysis, investigation, inquiry, test, inspection or examination in an attempt to obtain the truth and form an expert opinion

Question 3

What are the types of professional guidance?

Answer 3

Authoritative and non authoritative

Question 4

What is authoritative professional guidance?

Answer 4

Required

• Ethical standards
• Professional responsibilities

Example: AICPA Code of Professional conduct

Question 5

What is non authoritative professional guidance?

Answer 5

Provided as an aid to the practitioner
Clarification, examples, etc

Example: ACFE white papers

Question 6

What are types of non authoritative guidance for forensic engagements?

Answer 6

AICPA practice aids
Special reports
White papers
Other aids and publications

Question 7

What are the steps to applying the conceptual framework?

Answer 7

1. Identify threats
2. Evaluate the significance of a threat
3. Identify and apply safeguards