CPA EXAM 3 WITH COMPLETE
QUESTIONS AND ANSWERS [GRADED
A+]
Which of the following is not an attribute of a profession?
A. Extensive education process
B. Existence of a governing body
C. Application of professional scepticism
D. Systematic body of theory and knowledge - ✔✔C. Application of
professional scepticism
Which of the following best describes the 'traditional' or 'functional' view of
a professional?
I Professionals are law abiding citizens.
II Professionals behave in an ethical and appropriate manner.
III Professionals have a significant level of training and competence.
IV Professionals apply their skill and judgment in areas of importance.
©morren2026/2027.Year published 2026.
,A. I and II only
B. II and III only
C. I, III and IV only
D. II, III and IV only - ✔✔D. II, III and IV only
Which of the following is not one of 'the four Es' that form the ideals of the
accounting profession as identified by Carnegie and Napier (2010)?
A. Expertise
B. Education
C. Enlightenment
D. Entrepreneurship - ✔✔C. Enlightenment
Which one of the following is not a perspective of a service ideal?
A. Pro bono work
B. Community service
C. The well-being of society
D. The pursuit of excellence - ✔✔A. Pro bono work
Which of the following is not part of the self-regulatory structures of CPA
Australia?
©morren2026/2027.Year published 2026.
,A. A process to discipline members for misconduct.
B. A requirement to have continued professional development.
C. Rules relating to the maximum fees to be charged for accounting
services.
D. Entry requirements relating to minimum qualifications and experience. -
✔✔C. Rules relating to the maximum fees to be charged for accounting
services.
Which one of the following best describes what makes up the ethos and
culture of a profession?
A. Values and norms
B. Customs and rituals
C. Symbols and traditions
D. Values, traditions and rituals - ✔✔A. Values and norms
Which of the following statements about the Australian accounting
profession's regulation is correct?
A. The professional accounting bodies set their own ethical standards.
B. The Financial Reporting Council reports to the Australian Accounting
Standards Board.
©morren2026/2027.Year published 2026.
, C. Auditors are professionally bound but not legally required to comply with
auditing standards.
D. The Australian Auditing and Assurance Standards Board reports to the
Financial Reporting Council. - ✔✔aasb report to frc
auasb report to frc
D. The Australian Auditing and Assurance Standards Board reports to the
Financial Reporting Council
A is incorrect because the Accounting Professional and Ethics Standards
Board (APESB) is responsible for setting professional and ethical
standards, not the professional accounting bodies such as CPA Australia.
Which of the following is not a part of a multi-level regulatory framework for
quality assurance? p19
A. Monitoring
B. Firm regulation
C. Standard setting
D. Practice reviews - ✔✔A. Monitoring
Which one of the following is not traditionally recognised as being an
attribute of a profession?
©morren2026/2027.Year published 2026.
QUESTIONS AND ANSWERS [GRADED
A+]
Which of the following is not an attribute of a profession?
A. Extensive education process
B. Existence of a governing body
C. Application of professional scepticism
D. Systematic body of theory and knowledge - ✔✔C. Application of
professional scepticism
Which of the following best describes the 'traditional' or 'functional' view of
a professional?
I Professionals are law abiding citizens.
II Professionals behave in an ethical and appropriate manner.
III Professionals have a significant level of training and competence.
IV Professionals apply their skill and judgment in areas of importance.
©morren2026/2027.Year published 2026.
,A. I and II only
B. II and III only
C. I, III and IV only
D. II, III and IV only - ✔✔D. II, III and IV only
Which of the following is not one of 'the four Es' that form the ideals of the
accounting profession as identified by Carnegie and Napier (2010)?
A. Expertise
B. Education
C. Enlightenment
D. Entrepreneurship - ✔✔C. Enlightenment
Which one of the following is not a perspective of a service ideal?
A. Pro bono work
B. Community service
C. The well-being of society
D. The pursuit of excellence - ✔✔A. Pro bono work
Which of the following is not part of the self-regulatory structures of CPA
Australia?
©morren2026/2027.Year published 2026.
,A. A process to discipline members for misconduct.
B. A requirement to have continued professional development.
C. Rules relating to the maximum fees to be charged for accounting
services.
D. Entry requirements relating to minimum qualifications and experience. -
✔✔C. Rules relating to the maximum fees to be charged for accounting
services.
Which one of the following best describes what makes up the ethos and
culture of a profession?
A. Values and norms
B. Customs and rituals
C. Symbols and traditions
D. Values, traditions and rituals - ✔✔A. Values and norms
Which of the following statements about the Australian accounting
profession's regulation is correct?
A. The professional accounting bodies set their own ethical standards.
B. The Financial Reporting Council reports to the Australian Accounting
Standards Board.
©morren2026/2027.Year published 2026.
, C. Auditors are professionally bound but not legally required to comply with
auditing standards.
D. The Australian Auditing and Assurance Standards Board reports to the
Financial Reporting Council. - ✔✔aasb report to frc
auasb report to frc
D. The Australian Auditing and Assurance Standards Board reports to the
Financial Reporting Council
A is incorrect because the Accounting Professional and Ethics Standards
Board (APESB) is responsible for setting professional and ethical
standards, not the professional accounting bodies such as CPA Australia.
Which of the following is not a part of a multi-level regulatory framework for
quality assurance? p19
A. Monitoring
B. Firm regulation
C. Standard setting
D. Practice reviews - ✔✔A. Monitoring
Which one of the following is not traditionally recognised as being an
attribute of a profession?
©morren2026/2027.Year published 2026.
