- 20 Marks
BMF – Nov 2020 – L1 – SB – Q4 – The Role of Professional Accountants in Business and
Explanation of ethical dilemmas, powers of professional bodies, and methods for resolving ethical dilemmas.
Question
(a) Distinguish between ethical dilemma and conflict of interest. (4 Marks)
(b) Globally, professional bodies are backed by law, consequently, a measure of authority is conferred upon them which they regularly exercise whenever the situation or circumstance demands.
State THREE powers of a professional body. (6 Marks)
(c) State FIVE possible ways of resolving ethical dilemma in a business environment. (10 Marks)
(Total 20 Marks)
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