According to the ethical standards of the profession, which of the following acts is generally prohibited?
A)Purchasing a product from a third party and reselling it to a client.
B)Writing a financial management newsletter promoted and sold by a publishing company.
C)Accepting a commission for recommending a product to an audit client.
D)Accepting engagements obtained through the efforts of third parties.

Question

Quizplus · Accepted Answer

Accepting a commission for recommending a product to an audit client is a violation of the ethical standards of the profession because it creates a conflict of interest and can compromise the independence and objectivity of the auditor. Choices A, B, and D do not necessarily violate ethical standards if they are conducted in accordance with the rules and regulations of the profession.

According to the Ethical Standards of the Profession, Which of the Following