Safeguards and examples

Question 1

What is a safeguard and examples

Answer 1

Actions a professional accountant takes to reduce threats to compliance with fundamental principles to an acceptable level.

Ensuring there is enough time available to perform duties.

Obtain assistance from experts

Training

segregation of duties

Disclose threats to management/tcwg

Question 2

Immediate family v close

Answer 2

Immediate family- spouse or equivalent and dependants.

Close- parents, children, sibling