ACCA BT · Chapter 14 · Question 4 of 11
An accountant is asked to prepare a complex valuation in an area in which she has no experience, with a tight deadline and no access to specialist support. Which fundamental principle is most at risk?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: D) Professional competence and due care
Explanation
Professional competence and due care require accountants to maintain the knowledge and skill needed to provide competent service and to act diligently. Accepting work beyond one's competence without appropriate support or time risks breaching this principle. Nothing in the scenario suggests disclosure of information, bias or dishonesty.
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