Which is most likely a violation of the AICPA Code of Professional Conduct?
Which is most likely a violation of the AICPA Code of Professional Conduct?
A member firm buys computer time at wholesale prices from another CPA firm and sells it at retail prices to clients.
A member begins a public accounting firm with the trade name “Pay Less Tax Service."
A member forms a partnership for the practice of public accounting with nonCPAs.
A member firm's name is imprinted on a tax booklet prepared by an outside author who is clearly identified.
Homework Answers
The four parts of the AICPA Code of Professional Conduct are principles, rules of conduct, interpretations of the rules of conduct and ethical rulings. Of these parts, only the rules of conduct are enforceable.
A member firm buys computer time at wholesale prices from another CPA firm and sells it at retail prices to clients is most likely a violation of the AICPA Code of Professional Conduct because it violates basic principles of integrity, scope and nature of services of CPAs. Although it is not enforceable because only if the rule of conduct is violated enforcement is possible.
CPAs are meant for public service with due integrity and responsibilities. Therefore any activity which does not comes under their scope of work must be avoided.
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Which is most likely a violation of the AICPA Code of Professional Conduct?
Each of the following situations involves a possible violation of the AICPA Code of Professional Conduct....
Each of the following situations involves a possible violation of the AICPA Code of Professional Conduct. For each situation, state the applicable rule of conduct and whether it is a violation. Emrich, CPA, provides tax services, management advisory services, and bookkeeping services and also conducts audits for the same nonpublic client. Because the firm is small, the same person often provides all the services. Steve Custer, CPA, set up a casualty and fire insurance agency to complement his auditing and...
Situation No. 3: AICPA Code of Professional Conduct For cach situation, Identify the most applicable AICPA...
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Statements Answer 1. The AICPA Code of Professional Conduct includes: Principles, Rules and interpretations st be...
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4-22 (OBJECTIVES 4-5,4-7) Each of the following situations involves a possible violation of the AICPA Code of Professional Conduct.
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Situation No. 3: AICPA Code of Professional Conduct For cach situation, Identify the most applicable AICPA rule of conduct and whether there is a violation or no violation of the rule. A. Independence- - No Violation B. Independence--Violation L. Contingent Fees--No Violation J. Contingent Fees-- Violation C. Integrity and Objectivity. -No Violation K. Acts Discreditable-No Violation D. Integrity and Objectivity. Violation L. Acts Discreditable Violation E. Accounting Principle--No Violation F. Accounting Principle--Violation M. Advertising and Solicitation-No Violation N. Advertising and...
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Obtain a copy of the AICPA Code of Professional Conduct from the AICPA website. According to the Code of Professional Conduct, how is the public interest" defined? (Be sure to include a reference to the location in the Code where you found your answer.) Based on the Code of Professional Conduct and the IFAC's Policy Position, who is the "public"? Of those included in the public, to whom do accountants owe their primary duty? Do you believe this definition is...
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