ICAEW SE · Chapter 7 · Question 1 of 18
According to the ICAEW Code of Ethics, what is a distinguishing mark of the accountancy profession?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: D) Its acceptance of the responsibility to act in the public interest
Explanation
The Code states that a distinguishing mark of the accountancy profession is its acceptance of the responsibility to act in the public interest. A professional accountant's responsibility is therefore not exclusively to satisfy the needs of an individual client or employer. This responsibility underpins public trust in the profession.
More Ethics and public trust MCQs
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- Q5Why are independent non-executive directors considered important to good governance?
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- Q7Which of the following best describes professional scepticism?