Acca paper F1 fia diploma in Accounting and Business Accountant in Business (AB/fab) exam kit

Required:
(i) 
Select the ethical threat that appropriately fills gap 1 above; i.e. select A, B, C 
or D. 
An accountant has been asked to work on the accounts for an organisation that is 
currently managed by his wife, exposing him to a threat of _2_. 
Required: 
(ii) 
Select the ethical threat that appropriately fills gap 2 above; i.e. select A, B, C 
or D. 
(1 mark each = 2 marks in total) 
(Total: 4 marks) 
 
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P AP E R F 1 ( F A B ) :
AC COU N TAN T IN B US INES S
 
120
KA P LA N 
P UB L IS HI N G 
47
(a) 
Below are a number of ethical safeguards. 
A 
Ethics training as part of professional training 
B 
Regulatory monitoring and disciplinary procedures 
C 
Creation of codes of conduct for each company 
D 
Creating legally binding controls over accountant behaviour 
E 
Developing internal complaints procedures for organisations 
F 
Creation of corporate governance requirements 
G 
Creating legally binding codes of conduct on corporate behaviour 
H 
Creation of professional standards 
Required: 
Write down which FOUR of the above are safeguards that professional accountancy 
bodies are responsible for implementing by selecting FOUR from A-H. 
 
 
(0.5 marks each, total = 2 marks) 
(b) 
There are a number of differing approaches to ethics, including: 
A Egoism 
B Utilitarianism 
C Pluralism 
D Absolutism 
The following sentences contain gaps relating to the approach to ethics being used. 
Company W has decided to press ahead with plans to open a new factory. It will have 
a detrimental effect on the environment and the local residents, but will make the 
company a significant profit. The company has therefore adopted a _1_ approach to 
ethics.