The sixth and last principle is the scope and nature of services principle It

The sixth and last principle is the scope and nature

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is responsible. The sixth and last principle is the scope and nature of services principle. It states that members should practice in firms that have placed internal quality control procedures to ensure services are delivered and rightly supervised, and members should determine if any service would create conflict, and to assess whether an activity is consistent with their role as professionals. There are 7 threats discussed in the Code. One threat is the advocacy threat, which is the threat that a member will promote a client’s interests or position to the point that his or her objectivity or independence is compromised. For example, a firm could act as an investment adviser for an officer of a client, or a member could enforce a client’s services or products. Another threat is the familiarity threat, which is a threat that a member will become too sympathetic to the client’s interests due to a long or close relationship with a client. An example would be a member’s immediate family or close relative or friend is employed by the client.
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  • Fall '11
  • Pizza
  • Interpersonal relationship, Certified Public Accountant, American Institute of Certified Public Accountants, Brenna Tierney

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