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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 way in which a professional accountancy body promotes ethical standards among its members?

Professional bodies promote ethics by setting a code of ethics, controlling entry through examinations and experience, requiring continuing professional development and disciplining members who breach standards. They do not set tax rates or appoint directors of clients.

  1. ASetting a code of ethics and requiring continuing professional developmentCorrect
  2. BSetting the tax rates paid by members' clients
  3. CAppointing the directors of members' client companies

Explanation

Professional bodies adopt codes of ethics, set entry requirements, require continuing professional development and discipline breaches. Setting tax rates is a government function, and appointing client directors is not a role of a professional body.

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