An accountant, as a member of a professional organization, must follow only those ethical requirements as are prescribed by the organization they belong to, such as the Society of Management Accountants of Canada.

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This statement is false. An accountant must follow ethical requirements prescribed by their professional organization as well as those set by regulatory bodies and laws. These ethical requirements may also differ depending on the specific circumstances of the accounting profession.

An Accountant, as a Member of a Professional Organization, Must