ACCA AAA Ethics

Question 1

Integrity

Answer 1

Members must be straightforward and honest in all professional and business relationships.

Question 2

Objectivity

Answer 2

Members must not allow bias, conflict of interest or undue
influence of others to override professional or business
judgements.

Question 3

Professional competence
and due care

Answer 3

Members must attain and maintain professional knowledge and skill at an appropriate level and must act
diligently in accordance with professional standards.

Question 4

Confidentiality

Answer 4

Information on clients must not be disclosed without appropriate authority or used for personal advantage of members or third parties.

Question 5

Professional behaviour

Answer 5

Members must comply with relevant laws and avoid any action that would discredit the profession.

Question 6

Self-interest

Answer 6

Where the auditor has a
financial or other interest
that will inappropriately
influence their judgement or
behaviour

Question 7

Familiarity

Answer 7

The auditor becomes too
sympathetic to or trusting of
a client and loses professional scepticism
e.g.
Long association
 Personal relationships
 Movement of staff between the
firm and client

Question 8

Self-review

Answer 8

The auditor will be unlikely
to admit to errors in their
own work, or may not
identify the errors in their
own work

 Accounts preparation
 Internal audit
 Tax computations

Question 9

Advocacy

Answer 9

Promoting the position of
the client or representing
them in some way

 Representing the client
 Promoting the client
 Negotiating on behalf of the
client