Business Ethics

Question 1

What is the definition of integrity?

Answer 1

Professional accounts should be straightforward and honest in all professional and business relationships.

Question 2

What is the definition of objectivity?

Answer 2

A professional account should not compromise their professional or business judgment because of bias, conflict of interest or the undue influence of others.

Question 3

What is the definition of professional competence and due care?

Answer 3

Maintain professional knowledge and skill at a level required to ensure that clients or employers receive professional and competent service.

Question 4

What is the definition of confidentiality?

Answer 4

Disclosing outside of the firm or organisation confidential information with proper specific authority or unless there is a legal or professional right or duty to disclose.

Using confidential information because of professional or business relationships to their advantage.

Question 5

What is the definition of professional behaviour?

Answer 5

The principle of professional behaviour imposes an obligation on all professional accountants to all laws and regulations.