When a professional accountant identifies threats to compliance with the fundamental principles and, based on an evaluation of those threats, determines that they are not at an acceptable level, the professional accountant shallSelect one:a.decline or discontinue the specific professional service involvedb.determine whether appropriate safeguards are available and can be applied to eliminate the threats or reduce them to anacceptable level.c.take qualitative as well as quantitative factors into account when evaluating the significance of a threat.d.evaluate any threats to compliance with the fundamental principlesClear my choice

Which of these is not identified as a type of threat to compliance with the fundamental principles in the ethical standards applicable to professional accountants in public practice?Group of answer choicesfamiliarityself-interestadvertisingself-review

Describe THREE situations in which the integrity of a professional accountant may be threatened.

It accommodates many variations in circumstances that create threats to compliance with the fundamental principles and can deter a professional accountant from concluding that a situation is permitted if it is not specifically prohibited.Select one:a.auditingb.public interestc.conceptual framework approachd.code of ethics

A professional accountant in public practice is prohibited to rely on safeguards that the client has implemented.Select one:TrueFalse

Which of the following are fundamental ethical principles for professional accountants? 1 Competence 2 Compliance 3 Integrity 4 Objectivity A. 2, 3 and 4 only B. 1, 2 and 3 only C. 2 and 4 only D. 1, 3 and 4 only