Accountants’ Independence

CSEG – May 2017 – L2 – Q3b – Business ethics

Explain four safeguards to address actual and threatened litigation in the accounting profession.

Question

Professional accountants face many threats in the performance of their duties that may negatively affect accountants’ objectivity and independence. One of such threats is intimidation threat which may arise from close business relationships, family and personal relationships, and assurance staff members moving to employment with clients as well as actual and threatened litigation.

Required:

Explain FOUR safeguards you will consider to deal with actual and threatened litigation as a professional accountant. (6 marks)

Answer

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Tags: Accountants' Independence, Litigation, Professional Ethics, Safeguards
Level: Level 2

Series: MAY 2017

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CSEG – May 2017 – L2 – Q3b – Business ethics

Explain four safeguards to address actual and threatened litigation in the accounting profession.

CSEG – May 2017 – L2 – Q3b – Business ethics

Explain four safeguards to address actual and threatened litigation in the accounting profession.

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Question Tag: Accountants' Independence

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CSEG – May 2017 – L2 – Q3b – Business ethics

Explain four safeguards to address actual and threatened litigation in the accounting profession.

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CSEG – May 2017 – L2 – Q3b – Business ethics

Explain four safeguards to address actual and threatened litigation in the accounting profession.

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