- 10 Marks
SCS – March 2023 – L3 – Q1 – Ethics and social responsibility
Explains the importance of good ethical behavior for accountants and reasons for the public’s high expectations from the accountancy profession.
Question
a) At LCH, the Financial Accountant and the Internal Auditor have been designated as Ethics Focal Persons (EFP) to raise awareness of good ethical behavior among the staff.
As a student of ethics, explain FIVE (5) reasons why good ethical behavior (study and application of ethics) is important to today’s Accountant.
(5 marks)
b) The general public has high expectations of the accountancy profession and the idea of an ethical profession should be reinforced in their minds.
State THREE (3) reasons why the general public has high expectations of the accountancy profession to ensure good corporate governance practices.
(5 marks)
Find Related Questions by Tags, levels, etc.
- Tags: Corporate Governance, Ethics, Professional Conduct, Public Expectations
- Level: Level 3
- Topic: Ethics and social responsibility
- Series: MAR 2023
