Contents
What is a professional competency?
Professional competencies are skills, knowledge and attributes that are specifically valued by the professional associations, organizations and bodies connected to your future career.
What are the threats to professional competence and due care?
320.4 Threats to compliance with the fundamental principles, for example self-interest or intimidation threats to objectivity or professional competence and due care, may be created where a professional accountant in business* may be pressured (either externally or by the possibility of personal gain) to become …
How are competence and due care best described?
Competence is knowing what do; due care is doing it to the best of one’s abilities.
What is professional competence CPa?
The CPa enabling competencies provide the essential skills for ethical behaviour, decision-making, problem-solving, communication, and leadership as a professional accountant. The enabling competencies are grouped into five broad competency areas.
What is due professional care?
Calls for the application of the care and skill expected of a reasonably prudent and competent auditor in similar circumstances. Due professional care is exercised when audits are carried out in accordance with standards set for the profession.
What is an example of due care?
Due care is making sure you provide security training and practice sound security practices at your company. Examples of which include putting up posters that say you must lock your computer, or making sure employees know where to find documents for proper security procedures, or locking your drawers.
How do you maintain professional competence?
Below there are some ways.
- On the job learning and training is an important way of developing competence.
- Participate in new projects / working groups in your workplace.
- Attend training courses / seminars / conferences in and outside your company.
- Pursue doctoral studies.
- Study for another complementary degree.
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How to maintain professional competence and due care?
113.1 A2 Maintaining professional competence requires a continuing awareness and an understanding of relevant technical, professional and business developments. Continuing professional development enables a professional accountant to develop and maintain the capabilities to perform competently within the professional environment.
What does due professional care in audit mean?
The matter of due professional care means what the independent auditor does and how appropriately he or she does it. An auditor should possess the degree of skill and competence commonly possessed by other auditors and should exercise it with proper care and diligence.
What is the definition of competent professional service?
130.2 Competent professional service requires the exercise of sound judgment in applying professional knowledge and skill in the performance of such service. Professional competence may be divided into two separate phases: (b) Maintenance of professional competence.
What is the IIA Standard for due professional care?
The IIA’s Standard 1220: Due Professional Care states: “Internal auditors must apply the care and skill expected of a reasonably prudent and competent internal auditor.” So what is reasonable and competent?