Professional considerations Flashcards
What is meant by “public interest”?
The collective wellbeing of the community of people and institutions the professional accountant serves.
What is Internal auditing?
An independent, objective assurance and consulting activity designed to add value and improve an organisation’s operations.
What is the definition of “Continuing Professional Development”?
The continuous maintenance, development and enhancement of the professional and personal knowledge, skills and ability, often termed competence, which members of certain professions require throughout their working lives’.
What is the CPD cycle?
1) Assess - identify the skills and knowledge that you already have.
2) Plan - consider where you are heading in your career, identify the ‘gap’ and plan how to achieve your objectives.
3) Action - undertake CPD activities e.g. attending update courses, reading journals e.t.c.
4) Evaluate
What is misconduct?
A member having conducted him/herself in such a manner as would in the opinion of the association, prejudice his/her status as a member or reflect adversely on the reputation of the Association; or having acted in serious or repeated breach of the Articles or of any rules, regulations or bye-laws.
