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CIMAPRA19-F02-1 Exam - Topic 1 Question 75 Discussion

An accountant acting under their Code of Ethics would do which THREE of the following?
B) Report material conflicts of interest to a more senior level.
A) Resist pressure from the directors to recognise revenue on sales where the risks and rewards have not transferred to the customer.
C) Reject a justified change to a depreciation policy that increases profitability.
D) Accept a recommendation from the audit committee to increase segregation of duties within the finance department.
E) Make a provision for a liability of uncertain timing or amount, requested by the directors, where there is NOT a present obligation.
F) Accept a director's instruction to remove one element of their remuneration from the directors' remuneration report.

CIMAPRA19-F02-1 Exam - Topic 1 Question 75 Discussion

Actual exam question for CIMA's CIMAPRA19-F02-1 exam
Question #: 75
Topic #: 1
[All CIMAPRA19-F02-1 Questions]

An accountant acting under their Code of Ethics would do which THREE of the following?

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Suggested Answer: B

by Rolland at Oct 03, 2023, 03:32 AM

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Ming
10 months ago
E is a big no. No obligation, no provision!
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Whitley
10 months ago
Wait, can they really resist pressure like that? Sounds tough!
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Delmy
10 months ago
C seems off. Why reject a justified change?
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Nan
10 months ago
I think D is also a good choice. More segregation is better!
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Cammy
10 months ago
Definitely A and B! Ethics first!
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Giuseppe
10 months ago
I feel like option D is definitely a good practice, as increasing segregation of duties is important for internal controls, but I’m not sure if it’s one of the three correct answers.
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Staci
11 months ago
I'm a bit confused about option C; rejecting a justified change seems counterintuitive, but I guess it depends on the context of the change.
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Von
11 months ago
I remember practicing a question similar to this where reporting conflicts of interest was emphasized, so I feel confident about option B being correct.
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Willodean
11 months ago
I think option A makes sense because resisting pressure is crucial for ethical accounting, but I'm not entirely sure about the specifics of revenue recognition.
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Stanford
11 months ago
This is a great question to test our understanding of accountant ethics. I'm confident I can identify the 3 correct actions that uphold the Code of Ethics. Resisting unethical revenue recognition, reporting conflicts, and accepting audit recommendations seem like the clear winners here.
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Hailey
11 months ago
I'm a bit confused by this question. There are a lot of options and I'm not sure which 3 would be considered the most ethical actions for an accountant. I'll need to re-read the question and think through each choice carefully.
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Jaime
11 months ago
Okay, I think I've got this. The accountant should resist pressure to recognize revenue prematurely, report conflicts of interest, and accept recommendations to improve internal controls. Those seem like the clear ethical choices here.
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Shaquana
11 months ago
Hmm, this is a tricky one. I'm not entirely sure which 3 options would be the correct ethical actions for an accountant. I'll need to carefully review the details of each option.
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Justine
11 months ago
This question seems straightforward - I just need to identify the 3 actions that an accountant would take to uphold their Code of Ethics.
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Dylan
11 months ago
This question seems straightforward. I think I know the correct answer, but I'll double-check the details to be sure.
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Lindsey
11 months ago
Mitigation is the obvious answer here. Management has identified a risk with the current supplier and is asking Harry to take action to address it by finding an alternative.
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Shenika
11 months ago
I think FSA is funded by both employers and employees, but I'm not entirely sure. I remember practicing a question like this.
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Shelton
1 year ago
E and F are definitely no-nos. Making unsupported provisions and hiding remuneration? That's cooking the books, not accounting!
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Gilbert
1 year ago
C) Reject a justified change to a depreciation policy that increases profitability.
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Alecia
1 year ago
B) Report material conflicts of interest to a more senior level.
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Willard
1 year ago
C) Reject a justified change to a depreciation policy that increases profitability.
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Isadora
1 year ago
B) Report material conflicts of interest to a more senior level.
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Crissy
1 year ago
A) Resist pressure from the directors to recognise revenue on sales where the risks and rewards have not transferred to the customer.
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Portia
1 year ago
A) Resist pressure from the directors to recognise revenue on sales where the risks and rewards have not transferred to the customer.
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Lucina
1 year ago
Ha! Rejecting a justified depreciation change to increase profits? That's like a baker refusing to add sugar to a cake. C is just ridiculous.
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Leoma
1 year ago
User 3: It's important for accountants to follow their Code of Ethics and not give in to unethical practices.
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Barrie
1 year ago
User 2: Definitely, accountants should report conflicts of interest and resist pressure to recognize revenue falsely.
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Jamey
1 year ago
User 1: I agree, rejecting a depreciation change for profit is not ethical.
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Craig
1 year ago
I'm not sure about C. Wouldn't rejecting a justified change that increases profitability go against the Code of Ethics?
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Veta
1 year ago
This is a no-brainer. A, B, and D are the obvious choices - resist pressure, report conflicts, and improve segregation of duties. Anything else would be a breach of ethics.
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King
1 year ago
User 2: Absolutely, those are the key actions that an accountant should take to uphold their Code of Ethics.
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Johana
1 year ago
User 1: Definitely agree, A, B, and D are crucial for maintaining ethical standards.
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Frederica
1 year ago
I agree with Candida. Those options align with the Code of Ethics for accountants.
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Mozell
1 year ago
A, B, and D are the correct choices here. An accountant's ethical duty is to ensure accurate financial reporting, not cater to management's demands.
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Shelton
1 year ago
D) Accept a recommendation from the audit committee to increase segregation of duties within the finance department.
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Brynn
1 year ago
B) Report material conflicts of interest to a more senior level.
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Talia
1 year ago
A) Resist pressure from the directors to recognise revenue on sales where the risks and rewards have not transferred to the customer.
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Candida
1 year ago
I think the answer is A, B, and C.
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