According to the IFAC Code of Conduct,if a Professional Accountant

question 5

Multiple Choice

According to the IFAC Code of Conduct,if a professional accountant acting as a money manager discovers that client funds are derived from illegal weapons sales to terrorists,the accountant has:

• A) A duty to inform appropriate governmental authorities
• B) A duty to return all fees received to date that were derived from the illegal proceeds of such sales
• C) A duty to hold the illegal proceeds in trust for potential examination or appropriation by government investigators
• D) Potentially committed a discreditable act that subjects the professional accountant to discipline under the IFAC Code of Conduct

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Definitions:

Global Structure

An organizational structure designed to support operations in multiple countries, facilitating international growth and global coordination.

Centralization

A structure of organizational management where decision-making authority is concentrated at the top levels of the organization.

Decision Process

A series of steps that involve identifying a problem, generating alternatives, choosing an alternative, and implementing a solution.

Upper Echelon

A term referring to the highest level of leadership or management within an organization.