ExpertEasy1 markMultiple Choice
ACCA · Question 46 · Syllabus F: Professional ethics
True or False: The IFAC principle of 'Professional Competence and Due Care' requires accountants to maintain their professional knowledge and skill at the level required to ensure clients receive competent service.
True or False: The IFAC principle of 'Professional Competence and Due Care' requires accountants to maintain their professional knowledge and skill at the level required to ensure clients receive competent service.
Answer options:
A.
True
B.
False
How to approach this question
Link 'competence' to 'maintaining knowledge and skill'.
Full Answer
A.True✓ Correct
Professional Competence and Due Care imposes a continuing duty to maintain professional knowledge and skill at the level required to ensure that a client or employer receives competent professional service based on current developments in practice, legislation, and techniques.
Common mistakes
Assuming competence only applies to passing initial exams, rather than continuous maintenance.
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