ICAEW SE · Chapter 8 · Question 6 of 18
The ICAEW Code of Ethics is divided into parts. Which part specifically deals with professional accountants in business?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) Part 2
Explanation
Part 1 sets out the fundamental principles and conceptual framework and applies to all professional accountants. Part 2 applies to professional accountants in business, and Part 3 to professional accountants in public practice. Parts 4A and 4B set out independence requirements for audit and review engagements and for other assurance engagements respectively. Part 2 can also be relevant to accountants in practice in their dealings with their own firm, but the part dedicated to accountants in business is Part 2.
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