Which statement best describes how the international ethics standards board for accountants' (iesba) code impacts the u. s. accounting profession? cpas in public practice in the u. s. are required to apply the iesba code, even if they don't perform services outside the u. s. state boards of accountancy are required to adopt the ifac's rules within 90 days of an iesba rule change. as a member body of ifac, the aicpa is required to change its bylaws whenever the iesba changes its rules. the aicpa is required to adopt ethics standards that are at least as restrictive as the iesba rules.

Secured loans are protected by collateral security. examples: title loans where the borrower uses the car title as collateral security interest rates are lower and repayments are longer therefore risk is low as a collateral security is given as guarantee to the bank in case of failure to pay the loanunsecured loans are not protected by collateral security but it is given on the creditworthiness of the borrower, trusting that she/he will pay on time. examples; payday loans is a short term loan where the borrower lends money from the bank and pays is back when the borrower receives his/her wages.interest rates are high and repayments are shorter. but the risk is high as no collateral security is given as a guarantee to the bank for payment of the loan