ExpertMedium1 markMultiple Choice
ACCA · Question 46 · Professional ethics
Which of the following is an example of a safeguard created by the 'work environment' rather than a safeguard created by the 'profession, legislation, or regulation'?
Which of the following is an example of a safeguard created by the 'work environment' rather than a safeguard created by the 'profession, legislation, or regulation'?
Answer options:
A.
Continuing Professional Development (CPD) requirements
B.
Corporate governance regulations
C.
The firm's internal quality control policies
How to approach this question
Distinguish between external rules (laws, ACCA rules) and internal rules (company policies).
Full Answer
C.The firm's internal quality control policies✓ Correct
Safeguards against ethical threats fall into two broad categories: those created by the profession/legislation (e.g., education, CPD, corporate governance laws) and those in the work environment (e.g., firm-wide internal controls, disciplinary processes, peer reviews).
Common mistakes
Failing to distinguish between external regulatory safeguards and internal firm safeguards.
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