When a chartered accountant is required to resolve a conflict in the application of fundamental principles, the following factors should be considered:

1. Relevant Facts:
   The accountant must gather all pertinent facts that may impact the ethical decision. This includes understanding the background of the issue and any relevant information that may clarify the situation.
2. Ethical Issues Involved:
   Identifying the key ethical issues at stake is crucial. The accountant should assess which ethical principles are in conflict and the consequences of violating any of those principles.
3. Fundamental Principles Involved:
   The accountant must evaluate which of the five fundamental ethical principles (integrity, objectivity, professional competence and due care, confidentiality, and professional behavior) are involved and how they interact with the ethical conflict.
4. Establishing Who is Affected:
   The accountant should determine the stakeholders impacted by the ethical dilemma, such as the client, employer, and third parties, and consider how each of their interests might be affected by the resolution.
5. Possible Courses of Action:
   The accountant should consider various courses of action, evaluate their ethical implications, and ensure that they align with professional standards. It’s important to choose a course of action that upholds ethical standards.
6. Consequences of Each Course of Action:
   The accountant should weigh the potential consequences (legal, financial, reputational) of each alternative course of action to all parties involved and ensure that the chosen course is defensible.
7. Consultation and Advice:
   Consulting with peers, professional bodies, or legal advisors may provide additional guidance in resolving the ethical conflict.