Discuss CIMA CIMAPRA19-P03-1 Exam Topic 6 Question 31

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.

Suggested Answer: A, B, D

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30 comments · newest first

Roslyn 11 months ago

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

Caitlin 11 months ago

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

Nell 12 months ago

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

Wilson 12 months ago

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

Sage 1 year ago

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

Magdalene 1 year ago

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

Gearldine 1 year 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.

Mila 1 year ago

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

Elinore 1 year ago

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

Celestine 1 year 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.

Laura 1 year 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.

Lenna 1 year 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.

Bea 1 year 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?

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.

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.

Titus 1 year ago

↳ replying to Maryann

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

Adelaide 1 year ago

↳ replying to Maryann

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

Mayra 1 year ago

↳ replying to Maryann

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

Tesha 1 year ago

↳ replying to Maryann

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

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.

Maurine 1 year ago

↳ replying to Elke

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.

Idella 1 year ago

↳ replying to Elke

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

Hyun 1 year ago

↳ replying to Elke

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

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.

Malcom 1 year ago

↳ replying to Laquanda

C) It's definitely a breach of ethics to confirm something you don't understand just because senior management wants it.

Colton 1 year ago

↳ replying to Laquanda

B) I agree, it's important to always understand what you're confirming before giving your approval.

Mindy 1 year ago

↳ replying to Laquanda

A) Definitely, that's a clear breach of ethics. The accountant should have asked for clarification before confirming.

Ettie 2 years ago

I believe option C is also a breach. Confirming suitability without understanding the financial instrument is risky.

Tran 2 years ago

I agree with you, Madelyn. Closing down factories and causing job losses is not ethical.

Madelyn 2 years ago

I think option E would breach CIMA's Code of Ethics.

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