CIMAPRA19-P03-1 Exam - Topic 6 Question 31 Discussion

Actual exam question for CIMA's CIMAPRA19-P03-1 exam

Question #: 31
Topic #: 6

Which of the followingactionswouldbreachCIMA's Code of Ethics for Professional Accountants?

AAn accountant has been asked to evaluate an investment opportunity that is open for a very short time. The accountant has recommended rejecting the opportunity without doing any evaluation because he was too busy to study the proposal properly.

BAn accountant has been asked to select a new supplier and has decided to recommend a supplier based in country A because that will give the accountant an excuse to visit a family member who lives there.

CAn accountant has been asked to confirm that a complex financial instrument that has been recommended by the bank is suitable for the company. The accountant does not understand the instrument, but has confirmed its suitability because senior management wishes to use it.

DAn accountant has been asked to compile a list of all contacts at the company's bank so that they can be included in the mailing list for the calendar and coffee mug that are distributed as business gifts by the company in December of every year.

EAn accountant has been asked to identify the two least profitable factories so that they can be closed down, with the loss of all jobs. All of the company's factories are located in areas of high unemployment.

Show Suggested Answer

Suggested Answer: A, B, D

by Kerry at Aug 05, 2023, 06:23 AM

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Roslyn

6 months ago

E feels a bit harsh, but sometimes tough decisions are necessary.

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Caitlin

6 months ago

A is a big no-no, you can't just skip evaluations like that!

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Nell

7 months ago

Wait, is D really a breach? Seems harmless to me.

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Wilson

7 months ago

I think C is worse, how can you confirm something you don't understand?

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Sage

7 months ago

Definitely B, that's a clear conflict of interest.

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Magdalene

7 months ago

Option E is tricky. While it might not seem unethical at first, closing factories in high unemployment areas could raise serious ethical concerns.

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Gearldine

8 months ago

I remember a practice question similar to this, and I think option A could also be an issue. Not evaluating an investment properly could lead to poor decisions.

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Mila

8 months ago

I'm not entirely sure, but option C seems problematic too. Confirming suitability without understanding the instrument feels risky.

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Elinore

8 months ago

I think option B might breach the ethics code since the accountant is mixing personal interests with professional decisions.

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Celestine

8 months ago

I've worked with this integration before, so I'm feeling confident. The key is to include the ACI EPG reference in the manifests, that's the critical piece.

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Laura

8 months ago

I'm a bit confused by the options here. I'm not sure if I should be copying the pdb file or attaching the debugger. Maybe I'll try a few different things and see what works.

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Lenna

8 months ago

No problem, I've done this before. I'll just need to use the `kubectl set serviceaccount` command to update the deployment with the correct service account.

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Bea

8 months ago

I think the OCR option in Blue Prism is the best choice since it deals directly with scanned documents. That's what we practiced, right?

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Rene

1 year ago

Option A is definitely not a good look. Rejecting an opportunity without evaluation? That's just lazy, not to mention unprofessional.

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Maryann

1 year ago

Haha, option E is a real knee-slapper. Closing down factories in high unemployment areas? That's just a recipe for disaster, both ethically and practically.

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Titus

11 months ago

D) Absolutely, ethical considerations should always come first in professional decision-making.

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Adelaide

11 months ago

C) It's crucial to always act in the best interest of all stakeholders, not just senior management.

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Mayra

11 months ago

B) I agree, it's not just about the numbers, it's about the people affected by the decision.

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Tesha

11 months ago

A) That's definitely a breach of ethics. It's important to consider the impact on the employees and the community.

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Elke

1 year ago

I'd say option B is also a breach. Using a professional decision to visit a family member is a clear conflict of interest.

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Maurine

11 months ago

C) Option B is a clear violation of professional ethics. It's important to make decisions based on what's best for the company, not personal reasons.

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Idella

11 months ago

B) I agree, recommending a supplier based on personal reasons is not ethical.

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Hyun

1 year ago

A) Option B is definitely a breach of CIMA's Code of Ethics. It's a conflict of interest.

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Laquanda

1 year ago

Definitely option C. Not understanding a complex financial instrument and still confirming its suitability is a clear breach of the Code of Ethics. That's just plain negligence.

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