BUAW - Ethical Conflict Flashcards
1
Q
How could a conflict of loyalty make an accountant breach ethical principles?
A
- Break the law
- Breach standards of the profession
- Be part of illegal earnings
- Lie or mislead auditors
- Put name to a false statement
2
Q
What should happen if an employer has broken the law?
A
Rectify situation as soon as possible
3
Q
What should happen with a difference in opinion of an accounting or ethical matter?
A
Taken to senior staff
4
Q
If an accountant believes they have exhausted all their options what should they do?
A
Take advice from professional body and offer resignation
