Help!Unit 32 Professional Ehtics

coin99
coin99 Registered Posts: 16 New contributor 🐸
Hi, I'm currently doing the practice simulation for Unit 32 Professional Ethics. Can anyone give me some advise on how to answer the following questions:

1) In a reference from an accountant regarding financial viability, what would you expect to see in order to protect the member providing the reference.

I could only think of the specifying any limitations on the reference to be done, is there any other aspects will be included in the reference?

2) Consider the following quote
"We will do the first year's audit for no fee"
Under the AAT Guidelines on Professional Ethics why is this an acceptable quote?

3) You ask your previous accountants for your accounts, they advise you that they have been sent in the confidential waste.
Why is this not in accordance with AAT guidelines on Professional Ethics?

Any comments are welcome! Thanks in advance!

Comments

  • coin99
    coin99 Registered Posts: 16 New contributor 🐸
    Can anyone give me some advise? Really need your help! Thank you.
  • mini_schnauzer
    mini_schnauzer Registered Posts: 347 Dedicated contributor 🦉
    Hi

    I completed the Ethics unit last August, and I remember those questions for my practice simulation. All 3 questions were covered very well in my Kaplan study book. Can you not go back to your book and look these up or search the internet to help you find the answers? You will learn more by researching the answer yourself to if someone just gives you the answer.
  • coin99
    coin99 Registered Posts: 16 New contributor 🐸
    Thank you for your reply. Unfortunatelly, I'm not using Kaplan book, I have done some research through the internet, espacially regarding financial viability reference, but I could not find any useful information. Could you please kindly give me some clue, if you do know the answer. Thank you.
  • coin99
    coin99 Registered Posts: 16 New contributor 🐸
    For the third question, I think it violates the retention of the important documents and also the basic principle of Professional behaviour. Is it right? Have I missed any other important points? Thank you.
  • mini_schnauzer
    mini_schnauzer Registered Posts: 347 Dedicated contributor 🦉
    Yes you have an obligation to hold onto documents for certain periods of time.
    Perhaps specify the length of time you have to do this.

    1) In a reference from an accountant regarding financial viability, what would you expect to see in order to protect the member providing the reference.
    - perhaps need to give reference with a disclaimer making it clear that reference is confidential and been prepared from a view taken from information and records that have been given to you only.

    2) Consider the following quote
    "We will do the first year's audit for no fee"
    Under the AAT Guidelines on Professional Ethics why is this an acceptable quote?
    - Any advertising has to be free from false or deceptive statements regarding any services that can be offered.

    I hope this helps - from memory so if incorrect don't shoot me down!
  • coin99
    coin99 Registered Posts: 16 New contributor 🐸
    Thank you, mini_schnauzer! Your reply makes me feel more confident with my answer. Hope the assessor will satisfy as well!
Privacy Policy