CIMA Exam CIMAPRA17-BA4-1 Topic 8 Question 83 Discussion

Actual exam question for CIMA's CIMAPRA17-BA4-1 exam

Question #: 83
Topic #: 8

A distinguishing mark of the accountancy profession is its acceptance of the responsibility to act in the public interest Therefore:

Athe public interest will always be served if an accountant complies with his or her employer's corporate ethical policies

Bfrauds which are detected in an audit must be reported to the public

Ca professional accountant's responsibility is not exclusively to satisfy the needs of an individual client or employer

Dprofessional accountants must be prepared to break laws that they consider to be against the public interest

Show Suggested Answer

Suggested Answer: B

by Nobuko at Mar 17, 2024, 12:48 PM

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Erasmo

8 months ago

I beliErasmo option D is definitely incorrect. Accountants should nErasmor break laws, Erasmon if they beliErasmo it's for the public interest.

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Mammie

8 months ago

I understand where you're coming from, Lacey. But reporting to the public may not always be the best course of action. It could harm innocent parties.

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Lacey

8 months ago

But what about option B? Shouldn't frauds detected in an audit always be reported to the public?

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Paz

8 months ago

I agree with Geraldo, option C makes sense. Accountants should not just prioritize their client or employer.

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Geraldo

8 months ago

I think option C is correct, as accountants have a duty to act in the public interest.

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Lashon

8 months ago

I see, so it's not about breaking laws but prioritizing the public good.

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Chuck

8 months ago

Exactly, we need to consider the public interest and act accordingly.

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Deandrea

8 months ago

Not necessarily, our responsibility is broader than just satisfying our employer.

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Lashon

8 months ago

So, does that mean we should always comply with our employer's ethical policies?

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Chuck

8 months ago

I agree, as accountants we have a duty to the public.

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Deandrea

10 months ago

I think the public interest should always come first.

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