6 The explosive growth of investing and raising capital in the global markets has put new emphasis on the developmentof international accounting, auditing and ethical standards. The International Federation of Accountants (IFAC) hasbeen at the forefront of the development of the worldwide accountancy profession through its activities in ethics,auditing and education.Required:Explain the developments in each of the following areas and indicate how they affect Chartered CertifiedAccountants:(a) IFAC’s ‘Code of Ethics for Professional Accountants’; (5 marks)
6 The explosive growth of investing and raising capital in the global markets has put new emphasis on the development
of international accounting, auditing and ethical standards. The International Federation of Accountants (IFAC) has
been at the forefront of the development of the worldwide accountancy profession through its activities in ethics,
auditing and education.
Required:
Explain the developments in each of the following areas and indicate how they affect Chartered Certified
Accountants:
(a) IFAC’s ‘Code of Ethics for Professional Accountants’; (5 marks)
相关考题：
A new play will be() at the Capital Theatre next week. A. put upB. put onC. put downD. put into
4 The International Accounting Standards Board (IASB) has begun a joint project to revisit its conceptual framework forfinancial accounting and reporting. The goals of the project are to build on the existing frameworks and converge theminto a common framework.Required:(a) Discuss why there is a need to develop an agreed international conceptual framework and the extent to whichan agreed international conceptual framework can be used to resolve practical accounting issues.(13 marks)
(b) Prepare a consolidated statement of financial position of the Ribby Group at 31 May 2008 in accordancewith International Financial Reporting Standards. (35 marks)
6 Certain practices have developed that threaten to damage the integrity and objectivity of professional accountants andthe reputation of the accounting profession.Required:Explain the following practices and associated ethical risks and discuss whether current ethical guidance issufficient:(a) ‘lowballing’; (5 marks)
(c) Assess how the fundamental ethical principles of IFAC’s Code of Ethics for Professional Accountants shouldbe applied to the provision of a forensic investigation service. (6 marks)
资料：New York and London may rule the roost, but other financial hubs in America and Europe have managed to carve out useful specialist niches for themselves. Chicago, for instance, has consolidated its position as the world’s derivatives center, and Houston, the largest city in Texas, is home to America’s biggest energy firms and has spawned an active cluster of energy traders and hedge funds.Europe has also developed a diverse set of financial centers ranging from big cities to island havens such as Jersey and to niche markets such as Luxembourg and Dublin. Edinburg, an established banking center, is now touting itself as a low-cost alternative for financial operations. Among the larger hubs, Frankfurt is an important center for banking and derivatives trading through Eurex, a German-Swiss exchange, with significantly lower costs than London.Switzerland’s twin financial centers, Geneva and Zurich, have done well in their specialists of private banking, wealth management and insurance. The main attractions are low taxes, political stability and a reputation for discretion. Urs Roth from the Swiss Bankers Association says, however, that given its tiny domestic market, Switzerland has had to fight for open markets on an international scale.Paris has long lagged far behind London, dogged by a reputation for excessive regulation and high taxes. The new government is aware that some of France’s best financial brains have crossed the Channel for more lucrative careers in London. Yet Paris has many advantages: a large number of international banks; more international companies than Frankfurt; and easy access to regulators. It has the largest market in Europe for trading in mutual funds. Few would dispute that Paris offers an attractive quality of life and has good transport links. What makes Paris a place to watch just now is the NYSE’s recent merger with Euronext. The combined group will base its international equities business in the French capital. Euronext, which operates exchanges in five European countries, also illustrates the importance of a common language.Financial executives around the world increasingly view Europe as a single market. Soon a new European rule called MiFID （Markets in Financial Instrument Directive） is due to be implemented. It aims to increase competition among and transparency within financial markets. Financiers in other parts of the world are wondering how to achieve a similar degree of cross-border financial integration.Which of the following is NOT true about Paris, according to the passage?A.Merger of NYSE with Euronext makes it the biggest financial center in Europe.B.The excessive regulation and high taxes have affected its financial development.C.Paris has many advantages that may help in its future financial development.D.Paris offers good quality of life as well as good transport links.
资料：New York and London may rule the roost, but other financial hubs in America and Europe have managed to carve out useful specialist niches for themselves. Chicago, for instance, has consolidated its position as the world’s derivatives center, and Houston, the largest city in Texas, is home to America’s biggest energy firms and has spawned an active cluster of energy traders and hedge funds.Europe has also developed a diverse set of financial centers ranging from big cities to island havens such as Jersey and to niche markets such as Luxembourg and Dublin. Edinburg, an established banking center, is now touting itself as a low-cost alternative for financial operations. Among the larger hubs, Frankfurt is an important center for banking and derivatives trading through Eurex, a German-Swiss exchange, with significantly lower costs than London.Switzerland’s twin financial centers, Geneva and Zurich, have done well in their specialists of private banking, wealth management and insurance. The main attractions are low taxes, political stability and a reputation for discretion. Urs Roth from the Swiss Bankers Association says, however, that given its tiny domestic market, Switzerland has had to fight for open markets on an international scale.Paris has long lagged far behind London, dogged by a reputation for excessive regulation and high taxes. The new government is aware that some of France’s best financial brains have crossed the Channel for more lucrative careers in London. Yet Paris has many advantages: a large number of international banks; more international companies than Frankfurt; and easy access to regulators. It has the largest market in Europe for trading in mutual funds. Few would dispute that Paris offers an attractive quality of life and has good transport links. What makes Paris a place to watch just now is the NYSE’s recent merger with Euronext. The combined group will base its international equities business in the French capital. Euronext, which operates exchanges in five European countries, also illustrates the importance of a common language.Financial executives around the world increasingly view Europe as a single market. Soon a new European rule called MiFID （Markets in Financial Instrument Directive） is due to be implemented. It aims to increase competition among and transparency within financial markets. Financiers in other parts of the world are wondering how to achieve a similar degree of cross-border financial integration.According to Paragraph 1,traders mostly trade derivatives in .A.New YorkB.LondonC.ChicagoD.Frankfurt
资料：New York and London may rule the roost, but other financial hubs in America and Europe have managed to carve out useful specialist niches for themselves. Chicago, for instance, has consolidated its position as the world’s derivatives center, and Houston, the largest city in Texas, is home to America’s biggest energy firms and has spawned an active cluster of energy traders and hedge funds.Europe has also developed a diverse set of financial centers ranging from big cities to island havens such as Jersey and to niche markets such as Luxembourg and Dublin. Edinburg, an established banking center, is now touting itself as a low-cost alternative for financial operations. Among the larger hubs, Frankfurt is an important center for banking and derivatives trading through Eurex, a German-Swiss exchange, with significantly lower costs than London.Switzerland’s twin financial centers, Geneva and Zurich, have done well in their specialists of private banking, wealth management and insurance. The main attractions are low taxes, political stability and a reputation for discretion. Urs Roth from the Swiss Bankers Association says, however, that given its tiny domestic market, Switzerland has had to fight for open markets on an international scale.Paris has long lagged far behind London, dogged by a reputation for excessive regulation and high taxes. The new government is aware that some of France’s best financial brains have crossed the Channel for more lucrative careers in London. Yet Paris has many advantages: a large number of international banks; more international companies than Frankfurt; and easy access to regulators. It has the largest market in Europe for trading in mutual funds. Few would dispute that Paris offers an attractive quality of life and has good transport links. What makes Paris a place to watch just now is the NYSE’s recent merger with Euronext. The combined group will base its international equities business in the French capital. Euronext, which operates exchanges in five European countries, also illustrates the importance of a common language.Financial executives around the world increasingly view Europe as a single market. Soon a new European rule called MiFID （Markets in Financial Instrument Directive） is due to be implemented. It aims to increase competition among and transparency within financial markets. Financiers in other parts of the world are wondering how to achieve a similar degree of cross-border financial integration.The last paragraph implies that . A.Financiers have long ago viewed the Europe as a single marketB.Europe has the highest degree of cross-border financial integrationC.the MiFID will make financial markets around the world more competitiveD.the MiFID will increase transparency within American financial mark
资料：New York and London may rule the roost, but other financial hubs in America and Europe have managed to carve out useful specialist niches for themselves. Chicago, for instance, has consolidated its position as the world’s derivatives center, and Houston, the largest city in Texas, is home to America’s biggest energy firms and has spawned an active cluster of energy traders and hedge funds.Europe has also developed a diverse set of financial centers ranging from big cities to island havens such as Jersey and to niche markets such as Luxembourg and Dublin. Edinburg, an established banking center, is now touting itself as a low-cost alternative for financial operations. Among the larger hubs, Frankfurt is an important center for banking and derivatives trading through Eurex, a German-Swiss exchange, with significantly lower costs than London.Switzerland’s twin financial centers, Geneva and Zurich, have done well in their specialists of private banking, wealth management and insurance. The main attractions are low taxes, political stability and a reputation for discretion. Urs Roth from the Swiss Bankers Association says, however, that given its tiny domestic market, Switzerland has had to fight for open markets on an international scale.Paris has long lagged far behind London, dogged by a reputation for excessive regulation and high taxes. The new government is aware that some of France’s best financial brains have crossed the Channel for more lucrative careers in London. Yet Paris has many advantages: a large number of international banks; more international companies than Frankfurt; and easy access to regulators. It has the largest market in Europe for trading in mutual funds. Few would dispute that Paris offers an attractive quality of life and has good transport links. What makes Paris a place to watch just now is the NYSE’s recent merger with Euronext. The combined group will base its international equities business in the French capital. Euronext, which operates exchanges in five European countries, also illustrates the importance of a common language.Financial executives around the world increasingly view Europe as a single market. Soon a new European rule called MiFID （Markets in Financial Instrument Directive） is due to be implemented. It aims to increase competition among and transparency within financial markets. Financiers in other parts of the world are wondering how to achieve a similar degree of cross-border financial integration.All of the following are advantages of Switzerland’s financial centers EXCEPT .A.low taxationB.broad domestic marketC.fame for discretionD.stable political environment
资料：New York and London may rule the roost, but other financial hubs in America and Europe have managed to carve out useful specialist niches for themselves. Chicago, for instance, has consolidated its position as the world’s derivatives center, and Houston, the largest city in Texas, is home to America’s biggest energy firms and has spawned an active cluster of energy traders and hedge funds.Europe has also developed a diverse set of financial centers ranging from big cities to island havens such as Jersey and to niche markets such as Luxembourg and Dublin. Edinburg, an established banking center, is now touting itself as a low-cost alternative for financial operations. Among the larger hubs, Frankfurt is an important center for banking and derivatives trading through Eurex, a German-Swiss exchange, with significantly lower costs than London.Switzerland’s twin financial centers, Geneva and Zurich, have done well in their specialists of private banking, wealth management and insurance. The main attractions are low taxes, political stability and a reputation for discretion. Urs Roth from the Swiss Bankers Association says, however, that given its tiny domestic market, Switzerland has had to fight for open markets on an international scale.Paris has long lagged far behind London, dogged by a reputation for excessive regulation and high taxes. The new government is aware that some of France’s best financial brains have crossed the Channel for more lucrative careers in London. Yet Paris has many advantages: a large number of international banks; more international companies than Frankfurt; and easy access to regulators. It has the largest market in Europe for trading in mutual funds. Few would dispute that Paris offers an attractive quality of life and has good transport links. What makes Paris a place to watch just now is the NYSE’s recent merger with Euronext. The combined group will base its international equities business in the French capital. Euronext, which operates exchanges in five European countries, also illustrates the importance of a common language.Financial executives around the world increasingly view Europe as a single market. Soon a new European rule called MiFID （Markets in Financial Instrument Directive） is due to be implemented. It aims to increase competition among and transparency within financial markets. Financiers in other parts of the world are wondering how to achieve a similar degree of cross-border financial integration.What can be inferred from the passage?A.New York is the world’s largest financial hub.B.Houston is the world’s biggest center for energy trading and hedge funds.C.The Europe has as many financial centers as the United States.D.Different financial centers have different specialist features.
In recent years much more emphasis hasbeen put ______ developing the students′ productive skills.A.onto B.over C.in D.on
$30 billion might seem a lot of money,but it′s a mere _____________ in terms of what global capital markets can doabsorb.A.almsB.pittanceC.hearsayD.belongings
Why are wages falling when the economy is growing fast for some employees？( ) A.The competition is too fierce in the international field for some employees. B.The lack of flexibility to adopt new technologies. C.International competition has lowered the marginal revenue product of low-skilled workers. D.The extensive application of the AI technology.
Why are wages falling when the economy is growing fast for some employees？( ) A.The competition is too fierce in the international field for some employees B.The lack of flexibility to adopt new technologies C.International competition has lowered the marginal revenue product of low-skilled workers D.The extensive application of the AI technology
New Zealand is the first country in the world to get the new day because（）Ait is just east of the International Date LineBit is just west of the International Date LineCit is located halfway between the equator and the South PoleDit is located in the Southern Pacific Ocean
New Zealand is the first country in the world to get the new day because（）A、it is just east of the International Date LineB、it is just west of the International Date LineC、it is located halfway between the equator and the South PoleD、it is located in the Southern Pacific Ocean
国际图书馆联盟（IFLA）的英文全称是（）A、International Federation of Library Associationsand InstitutionsB、International Federation Associationsand InstitutionsC、International Federation of LibraryD、Library Associationsand Institutions
国际民航组织（ICAO）新的飞行标准。（）A、New flight standard of international civil aircraft organization (ICAO).B、New fly standard of international civil aircraft organization (ICAO).C、New fly standard of international civil aviation organization (ICAO).D、New flight standard of international civil aviation organization (ICAO).
单选题Under ISM Code the ship to which it applies has to carry （）Aan International Ship Security CertificateBan International Oil Pollution Prevention CertificateCa Safety Management CertificateDan International Ballast Water Management Certificate
单选题Failure to control the growth of international debt will also constrain living standards.AenhanceBreinforceCrestrainDstabilize
单选题What was the impact of the currency crisis that broke out in Thailand in 1997?AEmerging markets had no confidence in their economic growth.BForeign capital continued to flow into emerging markets at a slower rate.CInternational investors profited a lot from emerging markets.DThere was a sudden outflow of foreign capital from emerging markets.
单选题Under MARPOL Code the ship to which it applies has to carry （）Aan International Ship Security CertificateBan International Oil Pollution CertificateCa Safety Management CertificateDan International Ballast Water Management Certificate
单选题Which of the following is true of DHL according to the passage?AIt cooperates with TNT Skypack.BIt is showing signs of exhaustion.CIt might have a leading position in the international courier business.DIt has an annual growth rate of 5 %.