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:

Sensitivity Information

Data that reveals how changes in input variables affect the outcome of a model or system, often used in the context of risk analysis.

Cumulative Profit

The total amount of profit or loss generated over a specific period of time, taking into account all revenues and expenses up to that point.

Probability

A statistical measure representing the chance or likelihood that a particular event will happen, expressed as a fraction or percentage.

NPV Value

Net Present Value, a calculation used in finance to determine the value of a series of future cash flows projected to be received or paid, adjusted for the time value of money.