Questions from Business Ethics


Q: Independence, as defined on p. 432, seems very straightforward

Independence, as defined on p. 432, seems very straightforward. Why did the IFAC-IESBA 2018 International Code of Conduct for Professional Accountants allocate roughly 50% of its space to cover the In...

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Q: Which type of conflict of interest should be of greater concern to

Which type of conflict of interest should be of greater concern to a professional accountant: actual or apparent?

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Q: An auditor naturally wishes his or her activity to be as profitable

An auditor naturally wishes his or her activity to be as profitable as possible, but when, if ever, should the drive for profit be tempered?

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Q: If the provision of management advisory services can create conflicts of interest

If the provision of management advisory services can create conflicts of interest, why are audit firms still offering them?

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Q: The Prairieland Bank was a medium- sized mid-western financial

The Prairieland Bank was a medium- sized mid-western financial institution. The management had a good reputation for backing successful deals, but the CEO (and significant shareholder) had recently mo...

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Q: If you were an auditor, would you buy a new car

If you were an auditor, would you buy a new car at a dealership you audited for 17% off list price?

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Q: How can a professional accountant develop professional skepticism?

How can a professional accountant develop professional skepticism?

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Q: If you were a management accountant, would you buy a product

If you were a management accountant, would you buy a product from a supplier for personal use at 25% off list?

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Q: If you were a professional accountant, and you discovered your superior

If you were a professional accountant, and you discovered your superior was inflating his or her expense reports, what would you do?

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Q: Can a professional accountant serve two clients whose interest’s conflict? Explain

Can a professional accountant serve two clients whose interest’s conflict? Explain.

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