Since the rules cannot address all circumstances, the Code includes a conceptual framework approach for members to use to evaluate threats to compliance. Using this framework,
A) the first step is to discuss the threat with the client's management team.
B) all threats must be completely eliminated.
C) safeguards can be used to eliminate any threat.
D) more than one safeguard may be necessary.

Question

Quizplus · Accepted Answer

The conceptual framework approach allows for the use of safeguards to eliminate or mitigate threats to compliance, but recognizes that more than one safeguard may be necessary depending on the circumstances. The first step is to identify and evaluate the nature and significance of the threat, followed by determining whether any safeguards can eliminate or sufficiently mitigate the threat. If not, the member may need to decline or terminate the specific professional service or relationship causing the threat.

Since the Rules Cannot Address All Circumstances, the Code Includes