The Codes of Professional Conduct of the Various Accounting Bodies

question 26

Multiple Choice

The codes of professional conduct of the various accounting bodies are meant to

• A)provide a standard of conduct for all members,including those in public practice.
• B)interpret the assurance recommendations and views of the AASB.
• C)provide the rules underlying the audits and related service activities carried on by the accountants.
• D)establish the norms for quality control of an audit.

---

Definitions:

Quasi-Contract

An obligation imposed by law to prevent unjust enrichment, even though no actual contract exists between the parties involved.

Necessaries

Goods and services deemed essential for an individual's subsistence and welfare, especially in the context of legal responsibility and contracts.

Incapacity

The inability to comprehend or manage one's own affairs due to mental deficiency or a similar condition.

Disaffirmance

The legal right or act of renouncing or rejecting a contract or agreement, particularly used in reference to minors' agreements.