Ethics Flashcards
What threat does profit related pay, owning shares in the company and inappropriate personal use of the company asset
Self interest
What threat is at risk when judgement is required and affects the business decisions of the person that is preparing and reviewing the data
Self interest
What threat is when a director or accountant promotes a position or opinion to the extent that objectivity is compromised?
Advocacy
What threat can a close relation have?
Familiarity
What threat involves a director or accountant from acting objectively, that could threaten by dismissal or dominating person?
Intimidation
When faced with an issue of threat to intergrity and objectivity of the financial statements, what must the accountants do?
Determine the appropriate safe guards to mitigate these threats
When dealing with digital age, what ethical principle is at risk when faced with new problems that have not been seen before?
Professional competency and due care
When dealing with digital age, what ethical principle may be compromised as a result of intimidation?
Confidentiality
When dealing with digital age, what ethical principle is at risk when an accountant is unwilling to acknowledge or address their lack of knowledge or expertise of digital development
Integrity