Page |1
CPA - Ethics & Governance Questions and
Correct Answers/ Latest Update / Already
Graded
Accountability
Ans: Completing accounting work and making decisions within
a framework of responsibility.
Active impact
Ans: Positive societal change resulting from accountants'
actions.
Altruism
Ans: Selfless actions benefiting others at one's own expense.
APES 320
Ans: Guidance on Quality Management System for
accountants.
APESB
All rights reserved © 2025/ 2026 |
, Page |2
Ans: Self-regulated body setting professional standards for
accountants.
Attributes of Profession
Ans: Characteristics defining a profession, such as autonomy
and ethics.
By-Laws
Ans: Regulations outlining complaint processes and
disciplinary hearings.
Complaints against member
Ans: Procedures for addressing professional conduct issues
within CPA Australia.
Enlightened self-interest
Ans: Balancing public interest and self-interest in actions.
Enron, HIH Insurance, Lehman Brothers
Ans: Scandals leading to increased regulation and legal
backing for accounting standards.
All rights reserved © 2025/ 2026 |
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Ethics
Ans: Framework guiding ethical conduct in accounting
decisions.
Ethos and Culture of Profession
Ans: Values, norms, and symbols defining the accounting
profession.
Examples of Co-Regulation
Ans: Instances of shared regulation like FRC, Corporations Act,
and CPA.
Four E's
Ans: Education, ethics, expertise, and entrepreneurship in
accounting.
FRC responsibility
Ans: Oversight role in accounting standards and auditor
independence.
All rights reserved © 2025/ 2026 |
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GFC
Ans: Financial crisis highlighting greed and lack of
understanding.
Governance
Ans: Exercising accounting skills within a professional
framework.
Ideal Service to the community
Ans: Promoting societal well-being and excellence through
accounting.
Increase profit in short term
Ans: Strategy to boost profits by extending asset useful life.
Key issues credibility - factors reducing
Ans: Challenges like earnings management and poor audit
quality affecting credibility.
Main Challenges
All rights reserved © 2025/ 2026 |
CPA - Ethics & Governance Questions and
Correct Answers/ Latest Update / Already
Graded
Accountability
Ans: Completing accounting work and making decisions within
a framework of responsibility.
Active impact
Ans: Positive societal change resulting from accountants'
actions.
Altruism
Ans: Selfless actions benefiting others at one's own expense.
APES 320
Ans: Guidance on Quality Management System for
accountants.
APESB
All rights reserved © 2025/ 2026 |
, Page |2
Ans: Self-regulated body setting professional standards for
accountants.
Attributes of Profession
Ans: Characteristics defining a profession, such as autonomy
and ethics.
By-Laws
Ans: Regulations outlining complaint processes and
disciplinary hearings.
Complaints against member
Ans: Procedures for addressing professional conduct issues
within CPA Australia.
Enlightened self-interest
Ans: Balancing public interest and self-interest in actions.
Enron, HIH Insurance, Lehman Brothers
Ans: Scandals leading to increased regulation and legal
backing for accounting standards.
All rights reserved © 2025/ 2026 |
, Page |3
Ethics
Ans: Framework guiding ethical conduct in accounting
decisions.
Ethos and Culture of Profession
Ans: Values, norms, and symbols defining the accounting
profession.
Examples of Co-Regulation
Ans: Instances of shared regulation like FRC, Corporations Act,
and CPA.
Four E's
Ans: Education, ethics, expertise, and entrepreneurship in
accounting.
FRC responsibility
Ans: Oversight role in accounting standards and auditor
independence.
All rights reserved © 2025/ 2026 |
, Page |4
GFC
Ans: Financial crisis highlighting greed and lack of
understanding.
Governance
Ans: Exercising accounting skills within a professional
framework.
Ideal Service to the community
Ans: Promoting societal well-being and excellence through
accounting.
Increase profit in short term
Ans: Strategy to boost profits by extending asset useful life.
Key issues credibility - factors reducing
Ans: Challenges like earnings management and poor audit
quality affecting credibility.
Main Challenges
All rights reserved © 2025/ 2026 |
