What Is the Meaning of the Rule of Professional Conduct

question 10

Multiple Choice

What is the meaning of the rule of professional conduct that requires an auditor to be objective?

• A)The auditor may have a material,indirect financial interest in a client's business as long as it does not affect his or her judgment.
• B)The auditor has an obligation to CPA Canada to not use his or her training for personal advantage.
• C)The auditor has an obligation to serve the needs of the audit client.
• D)The auditor must have an attitude of professional skepticism toward an auditee's management.

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Definitions:

Assumption of Risk

A legal principle where an individual knowingly and voluntarily takes on the risks associated with an activity.

Disclaimers

Statements that deny responsibility or limit liability for certain information, opinions, or potential risks.

Unfair Hiring Practices

Discriminatory or biased procedures in the recruitment process that unjustly favor one candidate over another.

Surveillance Cameras

Electronic devices used for monitoring activities in various environments to enhance security, gather evidence, or observe behavior.