A member body of the International Federation of Accountants (IFAC) should follow the provisions in the Code of Ethics for Professional Accountants (IFAC Code) when each of the following exists except for:

Question

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The IFAC Code should be followed by a member body of IFAC, except when the member body is prohibited by law or regulation from complying with certain parts of the Code and complies with all other parts of the code. However, if the member body fails to comply with all other parts of the code, it must be considered a violation. If a member body applies less stringent standards than those stated in the IFAC Code, it violates the code and should be held accountable. Therefore, options A and D are incorrect.

A Member Body of the International Federation of Accountants (IFAC)