All Types of Auditors Must Follow Guidelines Promoting Ethical Conduct

question 31

Multiple Choice

All types of auditors must follow guidelines promoting ethical conduct.For financial statement auditors, the PCAOB/AICPA has established a code of professional conduct, commonly called the Code of Ethics, which consists of two sections.Which of the following correctly states the two sections?

• A)Integrity and responsibility
• B)Principles and rules
• C)Objectivity and independence
• D)Scope and nature

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Definitions:

Pairwise Majority Voting

A voting system in which each option is compared head-to-head with every other option, and the option that wins the most comparisons is selected.

Transitivity

The concept in mathematics and logic that if relation "A" is related to "B", and "B" is related to "C", then "A" is related to "C".

Prefers

Indicates a choice or inclination for one option over others based on certain criteria or personal judgment.

Transitivity

In decision theory and economics, the concept that if option A is preferred to B, and B is preferred to C, then A should be preferred to C.