The IFAC Code of Conduct Recognizes the Concept of "Implied

question 22

Multiple Choice

The IFAC code of conduct recognizes the concept of "implied consent." Implied consent,in the context of conflicts of interest,means that:

• A) A professional accountant may assume that a client has consented to a conflict of interest based on the surrounding circumstances
• B) A professional accountant may insist, before commencing work on a project, that a client consent to a potential conflict of interest
• C) Actual consent to a present-day conflict of interest also will be considered to constitute consent to any future conflicts of interest that may arise
• D) The likelihood of a conflict arising in the near future can be reasonably inferred from surrounding circumstances

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Definitions:

Subsistence Needs

Fundamental requirements necessary for individuals to maintain their basic living conditions, such as food, shelter, and clothing.

Thrill Of Entering

The excitement or exhilaration experienced when engaging in or embarking on something new or adventurous.

Expressive Needs

Human desires or motivations to express oneself emotionally or creatively, often through art, communication, or personal style.

Technical Skills

Abilities and knowledge needed to perform specific tasks, often relating to computational and physical technology.