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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 typical function of a professional accountancy body in promoting professional standards among its members?

Setting continuing professional development requirements is a typical function of a professional accountancy body. It helps members keep their knowledge and skills current, supporting competence and public confidence. Bodies do not set client share prices, approve employer budgets or appoint directors of clients.

  1. ASetting continuing professional development requirementsCorrect
  2. BDetermining the share price of listed clients
  3. CApproving the budgets of members' employers
  4. DAppointing the directors of members' clients

Explanation

Professional bodies maintain competence by requiring members to complete continuing professional development, alongside examinations, ethics codes and discipline. They have no role in setting share prices, approving employers' budgets or appointing client directors.

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