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CA Final International Ethics Standards Board for Accountants — practice questions

Explore 87 free International Ethics Standards Board for Accountants questions in CA Final Auditing. Open each question or exercise to read its content, reference answers and available explanation.

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International Ethics Standards Board for Accountants questions and exercises with answers

Showing questions 1–30 of 87.

How many fundamental principles does the IESBA Code establish?Read the answer and worked solution →Which of these is a fundamental principle of the IESBA Code?Read the answer and worked solution →Which one is a recognised category of threat in the Code's conceptual framework?Read the answer and worked solution →An auditor owns shares in the company being audited. Which threat is created?Read the answer and worked solution →A partner publicly promotes an audit client's shares to investors. Which threat arises?Read the answer and worked solution →An audit senior has worked with the same client finance team for years and is now too friendly. Which threat?Read the answer and worked solution →A client's managing director says the firm will be replaced unless an adverse finding is dropped. Which threat?Read the answer and worked solution →If threats stay unacceptable, eliminate them, add safeguards, or what?Read the answer and worked solution →Which section of the IESBA Code sets out the conceptual framework?Read the answer and worked solution →Part 3 of the IESBA Code applies to which group?Read the answer and worked solution →Part 4A of the Code deals with independence for which engagements?Read the answer and worked solution →Part 4B covers independence for which work?Read the answer and worked solution →The IESBA's 2016 revision introduced provisions on which subject?Read the answer and worked solution →The restructured IESBA Code of 2018 took effect in which month and year?Read the answer and worked solution →In 2022 the IESBA issued a revised, globally operable definition of what?Read the answer and worked solution →The IESBA's 2023 revisions addressed ethics implications of what?Read the answer and worked solution →IESBA and IAASB sit within which body?Read the answer and worked solution →Roughly how many jurisdictions adopt or reference the IESBA Code?Read the answer and worked solution →Section 600 of the Code deals with which subject?Read the answer and worked solution →Subsection 601 of the independence standards concerns which service?Read the answer and worked solution →Which section of the Code covers gifts and hospitality for audit clients?Read the answer and worked solution →How is auditor independence commonly described?Read the answer and worked solution →An auditor may not do which of these?Read the answer and worked solution →Programming independence protects the auditor's ability to:Read the answer and worked solution →Which independence type gives unlimited access to records?Read the answer and worked solution →Which independence type protects public disclosure of findings?Read the answer and worked solution →Real independence concerns the auditor's state of what?Read the answer and worked solution →Main risk of an unusually low audit fee quote?Read the answer and worked solution →Large non-audit fees versus audit fees suggest what?Read the answer and worked solution →For US public company audits, how often must the PCAOB-regime lead partner rotate?Read the answer and worked solution →

Worked practice questions

How many fundamental principles does the IESBA Code establish?

  1. Five
  2. Three
  3. Seven
  4. Four
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Correct answer: A. Five

The Code lists integrity, objectivity, professional competence and due care, confidentiality and professional behavior, which makes five.

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Which of these is a fundamental principle of the IESBA Code?

  1. Confidentiality
  2. Profitability
  3. Client loyalty
  4. Market share
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Correct answer: A. Confidentiality

Confidentiality is section 114 of the Code and one of the five fundamental principles.

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Which one is a recognised category of threat in the Code's conceptual framework?

  1. Advocacy
  2. Detection
  3. Inherent
  4. Control
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Correct answer: A. Advocacy

Advocacy is one of the five threat categories; inherent, detection and control are audit risk components, not ethical threats.

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More Auditing topics

Auditor's ReportOverview of Audit of Public Sector UndertakingsInternal AuditStandards on Auditing and Professional EthicsRisk Assessment and Internal ControlSpecial Features of Audit of Banks and Non-Banking Financial CompaniesAuditor's Report on Financial StatementsAudit Planning Strategy and Execution