A professional accountant is prohibited from owning stock in a public company he audits. This is because if he owned the...
A professional accountant is prohibited from owning stock in a public company he audits. This is because if he owned the stock, he would be considered to be violating the principle of:
a. Objectivity
b. Professional due care
c. Confidentiality
d. Integrity
e. All of the above
Homework Answers
| A professional accountant is prohibited from owning stock in a public company he audits. This is because if he owned the stock, he would be considered to be violating the principle of: | |
| Answer | a. Objectivity |
| Explanation: | A professional accountant's independence is affected if he owned the stock of public company. Auditors's independence is in fact its objectivity, the quality of not being influenced by regard to personal advantage. |
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