Free CIMA BA4 Practice Exam with Questions & Answers | Set: 2

Accountants should avoid any conflicts of interest in their professional conduct

Accountants should ensure that they only restrict information about their clients when the public interest so demands it

Accountants should act solely in the public interest and should therefore not make a profit from their professional advice to clients.

Accountants should promote and support the seven principles in public life through leadership and example.

Accountants should be publicly open about the reasons for their decisions within the companies they work for.

Compliance with laws and regulations

Compliance with guidelines and standards

Avoid any action that discredits the profession

Avoid any action that discredits one's employer or client

assures the readers of financial statements that any fraudulent activity has been corrected

confirms the accuracy of management's financial representations.

measures and communicates the data included in financial statements

objectively examines and reports on management's financial statements

Responsibility

Professional competence and due care

Objectivity

Respect

Yes - promotional offers of this sort are unethical and J should throw away all of the vouchers

Yes - the vouchers were given to J on the understanding that he would distribute them to other employees rather than keep them for himself

No - as long as J gives vouchers to other company employees who earn as little as he does

No - the vouchers were given to J, so he can do what he likes with them

Integrity

Objectivity

Professional competence and due care

Professional behavior

workers aged 16-18

workers aged 16-17

workers aged 15-17

workers aged 16-19

Directors owe a duty to promote the success of the company.

Directors' duties are codified in the UK Corporate Governance Code.

Directors must act in accordance with the company's constitution.

Directors' duties are owed to the shareholders as a whole.

The Commission is the executive arm of the European Union.

The Commission is made of independent Commissioners whose role is to further the interests of the Member States which they represent.

The Commission represents the European Union in any trade negotiations with states which are not members of the European Union.

The Commission has a duty to ensure the treaties and law are upheld, potentially by taking Member States or other institutions to the European Court of Justice.

Differences in law and tax

Differences in history and culture

Differences in types of shareholder

Difference in language

Difference in GDP

Yes - The plumber did not fix the toilet and so the offer cannot be accepted.

Yes - He is able to terminate the contract at any time, even if the plumber did fix the toilet.

No - Once he's offered the plumber the job he is unable to terminate the contract.

No - Even if the plumber hasn't fixed the toilet he has still given up his time and effort and should therefore be paid.

Integrity

Objectivity

Confidence

Openness

(i) only

(i) and (ii) only

(i) and (iii) only

(i), (ii) and (iii)

Observe the highest standards of conduct and integrity

Uphold the good standing and reputation of the profession

Refrain from any conduct which might discredit the profession

Uphold the good standing and reputation of their employer

Company X would only have a duty to try to stop Company Y from employing child labour if it was illegal in the countries concerned

Company X does not have any responsibilities, as its own record is good and it is not employing any children

It should ensure that it does not inadvertently use any of Company Y^s child workers in carrying out its own work on the project

It should attempt to persuade Company Y of its ethical responsibilities to stop employing children.