According to the IFAC Code of Conduct,if a professional accountant acting as a money manager discovers that client funds are derived from illegal weapons sales to terrorists,the accountant has:
A) A duty to inform appropriate governmental authorities
B) A duty to return all fees received to date that were derived from the illegal proceeds of such sales
C) A duty to hold the illegal proceeds in trust for potential examination or appropriation by government investigators
D) Potentially committed a discreditable act that subjects the professional accountant to discipline under the IFAC Code of Conduct
Correct Answer:
Verified
Q3: When an accountant serves as a trustee
Q4: An inter vivos trust is created:
A) While
Q5: A CPA acting as an executor of
Q6: A CPA audits Amberset Corporation.This CPA has
Q7: Stock in Avonictech,Inc.is a major asset of
Q9: A CPA is most likely to be
Q10: Sherry Hartwog is the managing partner of
Q11: The duty of impartiality is owed by
Q12: A CPA recently inherited $400,000 of stock
Q13: "Disgorgement," in the context of fiduciaries,means that:
A)
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents