The Credibility Standard in the Statement of Ethical Professional Practice

question 43

Multiple Choice

The credibility standard in the Statement of Ethical Professional Practice of the IMA requires that an accounting professional should:

• A) Communicate information fairly and objectively
• B) Disclose all relevant information that might affect the intended user's understanding of the reports, analyses or recommendations
• C) Disclose delays or deficiencies in information, timeliness, processing or internal controls in conformance with organization policy and the law
• D) All of the above

---

Definitions:

Doctrine

A system of principles or tenets adopted and propagated by a religious organization, political entity, or similar body.

Consent

Agreement or permission given by a person with full understanding of the facts and implications of an action or decision.

Creditor Beneficiary

A third party that benefits from a contract, especially one to whom a debtor owes a payment or performance.

Debt

An obligation or amount of money owed by one party to another, typically as a result of a loan or credit arrangement.