Which of the following is considered a type of threat
to compliance with the Rules of the code of professional
conduct?
a) Lack of management participation.
b) Illegitimate skepticism
c) Irrevocability
d) under influence
Solution: Option - d) Under influence.
Under influence is considered as the biggest threat for complaining with the rules of the code of professional conduct when compared with lack of management participation, illegitimate skepticism, irrevocability.
If the professional is acting under influence of others then the final report or result is manipulated. so it can not be relied and at the same time it is against to code of professional conduct.
Which of the following is considered a type of threat to compliance with the Rules of...
Under the AICPA Code of Professional Conduct, which of the following rules is not applicable to CPAs in business? A Independence. B General standards. C Integrity and objectivity. D Acts discreditable.
Under the AICPA Code of Professional Conduct, which of the following rules is not applicable to CPAs in business? A Independence. B General standards. C Integrity and objectivity. D Acts discreditable.
Which of the following is not addressed by rules of professional conduct? O A. Confidentiality OB. Competence O C. Compliance with professional standards OD. Number of clients
If the AICPA Code of Professional Conduct does not specifically address a threat to auditor independence, the auditor should: A Conclude that the threat results in a lack of independence unless it can be shown that no impairment of independence occurs. B Consider the threat from the perspective of a reasonable and informed third party who has knowledge of all the relevant information. C Conclude that the threat is not significant unless proven so. D Consult the Statements on Auditing Standards...
Tom is an attorney. Tom's conduct is governed by rules of professional conduct established by the state in which he is licensed, and the Code of Professional Responsibility and Model Rules of Professional Conduct drafted by a. federal courts. b. the American Bar Association. c. the American Institute of Certified Public Accountants. d. the Financial Accounting Standards Board
Which of the following is the threat that, due to a long or close relationship with a client, a CPA will become too sympathetic to the client’s interests or too accepting of the client’s work or product? Advocacy threat Familiarity threat Adverse interest threat Self-review thr 2.An advocacy threat is the threat that a CPA will ______. -not act with objectivity -become too sympathetic to a client’s interests -take on the A threat that a CPA could benefit, financially or...
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5. In which of the following instances would independence be considered to be impaired? The CPA has been retained as the auditor of a company a. and the CPA lives in the same town as the controller. b. in which the CPA's brother is the controller. c. which owes the CPA audit fees for current year services. The company being audited has just filed a petition for bankruptcy. d. All of the above. 6. The partner of...
which of the following is not considered an investment professional on the management team of a mutual fund? a. security analysts b. broker c. security trader d. portfolio manager
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Chapter 19 AF470 5:30 class Spring 2020 1. Consider the following statements: L Regarding the AICPA Code of Professional Conduct, Principles of Professional Conduct are enforceable. II. The rules contained in Section 1.100 cover issues relating to integrity and objectivity. a. I is true; Il is true b. I is true; Il is false c. I is false; Il is true d. I is false; Il is false 2. Consider the following statements: 1. If an auditor...
11. Which of the following is not considered a type of workplace "team"? a. cross functional b. problem solving c. virtual d. executive management 12. Individual team members should have frequent meetings and discussions with senior management and report back to the team. a. false b. true 13. When deciding which employees will participate or be assigned to a workplace team should we consider their personality? a. yes b. no 14. Not...