Final answer:
Performing a conflicts of interest check is a must before accepting an engagement.
Step-by-step explanation:
Performing a conflicts of interest check is a must before accepting an engagement. It is important to identify and prevent any situations where a conflict of interest may compromise the objectivity, fairness, or integrity of the professional services being provided. By conducting a conflicts of interest check, an individual or organization can assess whether they have any competing demands or obligations that may hinder their ability to act in their client's best interest.
For example, a lawyer representing both the buyer and the seller in a real estate transaction could potentially have conflicting interests. Similarly, an auditor who provides consulting services to a company they are auditing may face conflicts of interest that could jeopardize their independence and objectivity.
Therefore, the statement that performing a conflicts of interest check is a must before accepting an engagement is True.