ACCA · Question 52 · Syllabus F: Professional ethics
SCENARIO: 'AuditPro LLP' is facing several ethical dilemmas. Partner A is asked to audit a complex financial valuation that Partner A's own firm prepared last month. Partner B has been the lead audit partner for the same client for 15 years and goes on holiday with the client's CEO. Partner C is caught using confidential client data to buy shares before a public announcement. To fix Partner B's issue, the firm decides to replace Partner B with a new lead partner.
Identify the correct ethical terms:
Which option represents the correct combination?
Answer options:
1-Self-interest threat, 2-Advocacy threat, 3-Objectivity, 4-Disciplinary action
1-Self-review threat, 2-Familiarity threat, 3-Confidentiality, 4-Safeguard
1-Self-review threat, 2-Intimidation threat, 3-Professional Competence, 4-Safeguard
1-Advocacy threat, 2-Familiarity threat, 3-Confidentiality, 4-Penalty
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