ACCA Applied Knowledge · Business and Technology · The role of regulatory and professional bodies in promoting ethical and professional standards in the accountancy profession
Which of the following best describes a function of a professional accountancy body in promoting high standards in the profession?
A professional body promotes high standards by setting entry requirements through exams and experience, and by requiring continuing professional development from members. Legislation and tax rates are government functions, and directors of client companies are appointed by shareholders, not by the professional body.
- ASetting entry requirements and requiring continuing professional development from membersCorrect
- BPassing legislation that binds all businesses
- CSetting the tax rates paid by members' clients
- DAppointing the directors of members' client companies
Explanation
Professional bodies set qualification and entry requirements, require CPD, issue ethical codes and discipline members. Passing legislation is a government role, tax rates are set by government, and appointing directors is a matter for shareholders, not the body.
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