ICAEW AF · Chapter 2 · Question 1 of 7
Which of the following is NOT one of the fundamental principles in the IESBA Code of Ethics for Professional Accountants?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: A) Independence
Explanation
The five fundamental principles are integrity, objectivity, professional competence and due care, confidentiality, and professional behaviour. Independence is a separate requirement that applies to accountants carrying out audit and assurance work; it is not one of the five fundamental principles.
More Ethics and sustainability in financial reporting MCQs
- Q3Under the fundamental principle of confidentiality, in which of the following situations may a professional accountant disclose…
- Q4What is the main advantage of a principles-based code of ethics compared with a rules-based code?
- Q5What is the main aim of the International Sustainability Standards Board (ISSB)?
- Q6Which IFRS Sustainability Disclosure Standard sets out the specific requirements for disclosures about climate-related risks and…
- Q7Under IFRS S1, an entity should disclose information about which sustainability-related risks and opportunities?