ICAEW SE · Chapter 8 · Question 3 of 18
A newly qualified accountant is asked to prepare complex group consolidation adjustments involving foreign subsidiaries, which she has never done before, with no supervision and a tight deadline. Which fundamental principle is most at risk?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) Professional competence and due care
Explanation
Professional competence and due care requires accountants to attain and maintain the knowledge and skill needed for the work, and to act diligently in accordance with applicable standards. Taking on unfamiliar complex work without support or time risks a breach. She should request supervision, training or more time, or decline the work.
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