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 is a function typically performed by a professional accountancy body to promote high standards among its members?
Professional bodies promote high standards by setting entry requirements, examinations and continuing professional development requirements. These ensure members are competent when admitted and stay competent. They do not set client prices, dividend policies or appoint directors.
- ASetting the selling prices that members' clients must charge
- BSetting entry requirements, examinations and continuing professional development requirementsCorrect
- CDetermining the dividend policy of members' client companies
- DAppointing the directors of members' employers
Explanation
Professional bodies maintain standards by setting entry requirements and exams, and by requiring ongoing CPD so members keep their competence up to date. They have no role in setting client prices, dividend policy or director appointments.
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