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BA4 - Fundamentals of Ethics, Corporate Governance and Business Law Questions 251–255 (page: 52)

Updated On: 9-Feb-2026

Paul is asked to work for a company that runs online casinos, but he has a deep seated conviction that gambling in any form is immoral. This dilemma is an example of a tension between:

  1. Societal and professional values
  2. Personal and corporate values
  3. Corporate and professional values
  4. None of the above

Answer(s): B



Paul has been held personally liable to contribute to the assets of P Ltd as a result of his "fraudulent trading" under Section 213 of the Insolvency Act 1986. The court is about to disqualify Paul from acting as a director. What is the maximum period for which he may be disqualified?

  1. No maximum.
  2. 5 years.
  3. 10 years.
  4. 15 years.

Answer(s): D



The body responsible for reviewing the accountancy profession worldwide is:

  1. The Professional Oversight Board for Accountancy
  2. The International Federation of Accountants
  3. The Financial Reporting Council
  4. The Financial Review Board

Answer(s): B



In the UK the body responsible for establishing ethical standards relating to the independence, objectivity and integrity of those providing assurance services is:

  1. The Professional Oversight Board for Accountancy
  2. The International Federation of Accountants
  3. The Financial Reporting Council
  4. The Auditing Practices Board

Answer(s): D



In the event of a breach of contract, what is the purpose of damages?

(i) To punish the contract breaker.

(ii) To compensate the innocent party.

(iii) To ensure that the innocent party makes a profit.

  1. (i) only
  2. (ii) only
  3. (i) and (iii) only
  4. (i), (ii) and (iii).

Answer(s): B



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