Which ethical standard has been violated if an accountant fails to prepare financial statements according to industry standards? Competence Confidentiality Integrity Credibility

Finance Mar 15, 2021

Which ethical standard has been violated if an accountant fails to prepare financial statements according to industry standards?

1. Competence
2. Confidentiality
3. Integrity
4. Credibility

Expert Solution

Answer: a . Competence

Competence refers to the one's ability to do something efficiently and successfully. In the above-mentioned question, Competence is the ethical standard violated by the accountant. According to his profession, he should have the knowledge of preparing a financial statement as per the industry standards but he fails to do so.

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