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:

Germinal Stage

The first fortnight of embryonic growth post-fertilization, marked by swift cellular proliferation and the onset of cell specialization.

Foetal Stage

The period in human development that begins about nine weeks after fertilization and continues until birth, during which significant growth and development occur.

Prenatal Development

The process of growth and development within the womb, where human beings develop from a single cell to a full-term infant.

Foetal Stage

The developmental period in humans from the ninth week after conception until birth, during which significant growth and organ development occur.