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ACCA Applied Knowledge · Business and Technology · Ethical conflicts and dilemmas

Which of the following is an example of a safeguard created by the accountancy profession, legislation or regulation, rather than by the employing organisation?

Continuing professional development requirements imposed by a professional body are a safeguard created by the profession. The whistleblowing policy, internal code and audit committee review are all work-environment safeguards created by the employing organisation rather than the profession or regulators.

  1. AA whistleblowing policy set up by the company
  2. BContinuing professional development requirements imposed by a professional bodyCorrect
  3. CA corporate code of conduct issued by the finance director
  4. DInternal review of financial reports by the audit committee

Explanation

Safeguards created by the profession, legislation or regulation include educational and CPD requirements, professional standards and monitoring, and disciplinary procedures. The other options are safeguards in the work environment set up by the employer.

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