Homework Answers
7) Solution: Public interest
Explanation: The public interest principle of ethics accept obligation in an approach which will honor public trust, serve the public interest, and demonstrate professionalism commitment to
8) Solution: Independence in Appearance
Explanation: Independence in Appearance would be subject to enforcement under the Rules of Conduct
9) Solution: Suspension for five years
Explanation: Under the joint trial board procedures there can be expulsion, admonishment, and suspension for two years or less
10) Solution: Gross Negligence
Explanation: Gross negligence occurs when there is a failure to exercise even slight care
As per policy we have to answer first four parts
Add Answer to:
7- Which ethical principle states that members should honor the public trust and Integrity Demonstrate a...
9- Under the joint trial board procedures, which of the following is not a possible disciplinary...
9- Under the joint trial board procedures, which of the following is not a possible disciplinary action that could be taken: Admonishment Suspension for five years Expulsion Suspension for two years or less ______ 10- Failure to exercise even slight care is considered to be: Ordinary Negligence Gross Negligence Fraud Deception ______11- The ethical standards of the profession would most likely be considered to be violated if a CPA Jointly owns a building with an audit client’s President and...
Multiple Choice: (30pts) _______ 1-The profession’s ethical standards would most likely be considered to have been...
Multiple Choice: (30pts) _______ 1-The profession’s ethical standards would most likely be considered to have been violated when a CPA: Continued an audit engagement after the commencement of litigation against the CPA alleging excessive fees filed in a stockholder’s derivative action Represented to a potential client that the CPA’s fees were substantially lower than the fees charged by another CPA’s for comparable services. Issued a report on a financial forecast that omitted a caution regarding achievability. Accepted a consultation...
5- Which of these would be an Act Discreditable to the profession by you under the...
5- Which of these would be an Act Discreditable to the profession by you under the Code of Professional Conduct? Withholding audit work papers which contain data , to which the client has no other access, from a successor auditor where you have not been paid for the prior year’s audit Being sued for ordinary negligence by your audit client and losing Making a clerical error on your tax client’s tax return and not informing the corresponding government agency...
Can you answer these questions? Thank you 42 The AICPA's Code of Professional Conduct states that...
Can you answer these questions? Thank you
42 The AICPA's Code of Professional Conduct states that a CPA should maintain integrity and objectivity. The term “objectivity” in the Code refers to a CPA's ability to: a. choose independently between alternate accounting principles and auditing standards. b. distinguish between accounting practices that are acceptable and those that are not. be unyielding in all matters dealing with auditing procedures. d. maintain an impartial attitude on matters that come under the CPA's review....
- Multiple Choice: (30pts) _ 1-The profession's ethical standards would most likely be considered to have...
- Multiple Choice: (30pts) _ 1-The profession's ethical standards would most likely be considered to have been violated when a CPA: a- Continued an audit engagement after the commencement of litigation against the CPA alleging excessive fees filed in a stockholder's derivative action b- Represented to a potential client that the CPA's fees were substantially lower than the fees charged by another CPA's for comparable services. C- Issued a report on a financial forecast that omitted a caution regarding achievability....
asap only answers 5. In which of the following instances would independence be considered to be...
asap only answers
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...
Tinder the Ultramares rule, an accountant that negligently prepares a client's financial report will be liable...
Tinder the Ultramares rule, an accountant that negligently prepares a client's financial report will be liable to clients and any person or limited foreseeable class of persons who the CPA knows will be relying on the CPA's work. (7) persons in privity of contract with the CPA and intended third parties. 13 clients and any third party that foreseeably relied on the accountant's report. (4) the client only. Yn di or DISCUSSION QUESTIONS AND PROI G.IZOBJECTIVES 5-3,5-4,5-5,5-6) Following are eight...
I need help Principles of Professional Conduct Responsibilities--in carrying out their responsibilities as professionals, members should...
I need help
Principles of Professional Conduct Responsibilities--in carrying out their responsibilities as professionals, members should exercise sensitive professional and moral judgments in all their activities. The public interest --Members should accept the obligation to act in a way that will serve the public interest, honor the public trust, and demonstrate commitment to professionalism Integrity - To maintain and broaden public confidence, members should perform all professional responsibilities with the highest sense of integrity. There are six fundamental principles that...
apply the five steps conceputual framework for members in public practice to this dilemma ER 2...
apply the five steps conceputual framework for members in
public practice to this dilemma
ER 2 Professionalism and Professional Responsibilities c. La indepe d. Can were is Problems AP2.4 (La ing, an aus of Professi conduct 1. The a 2. An u AP2.1 (LO 2, 3) Basic Framework for ethical decision making Assume that you are the audit partner on an engagement for a client that has had a string of operating losses. You know the CFO, who is a...
Which of the following matters would an auditor most likely consider to be a significant deficiency to be communicated to the audit committee
1. Which of the following matters would an auditor most likely consider to be a significant deficiency to be communicated to the audit committee? A. Management's failure to renegotiate unfavorable long-term purchase commitments.B. Recurring operating losses that may indicate going concern problems.C. Evidence of a lack of objectivity by those responsible for accounting decisions.D. Management's current plans to reduce its ownership equity in the entity. 2. After obtaining an understanding of internal control and arriving at a preliminary assessed level...
Can you answer these questions? Thank you
42 The AICPA's Code of Professional Conduct states that a CPA should maintain integrity and objectivity. The term “objectivity” in the Code refers to a CPA's ability to: a. choose independently between alternate accounting principles and auditing standards. b. distinguish between accounting practices that are acceptable and those that are not. be unyielding in all matters dealing with auditing procedures. d. maintain an impartial attitude on matters that come under the CPA's review....
- Multiple Choice: (30pts) _ 1-The profession's ethical standards would most likely be considered to have been violated when a CPA: a- Continued an audit engagement after the commencement of litigation against the CPA alleging excessive fees filed in a stockholder's derivative action b- Represented to a potential client that the CPA's fees were substantially lower than the fees charged by another CPA's for comparable services. C- Issued a report on a financial forecast that omitted a caution regarding achievability....
asap only answers
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...
Tinder the Ultramares rule, an accountant that negligently prepares a client's financial report will be liable to clients and any person or limited foreseeable class of persons who the CPA knows will be relying on the CPA's work. (7) persons in privity of contract with the CPA and intended third parties. 13 clients and any third party that foreseeably relied on the accountant's report. (4) the client only. Yn di or DISCUSSION QUESTIONS AND PROI G.IZOBJECTIVES 5-3,5-4,5-5,5-6) Following are eight...
I need help
Principles of Professional Conduct Responsibilities--in carrying out their responsibilities as professionals, members should exercise sensitive professional and moral judgments in all their activities. The public interest --Members should accept the obligation to act in a way that will serve the public interest, honor the public trust, and demonstrate commitment to professionalism Integrity - To maintain and broaden public confidence, members should perform all professional responsibilities with the highest sense of integrity. There are six fundamental principles that...
apply the five steps conceputual framework for members in
public practice to this dilemma
ER 2 Professionalism and Professional Responsibilities c. La indepe d. Can were is Problems AP2.4 (La ing, an aus of Professi conduct 1. The a 2. An u AP2.1 (LO 2, 3) Basic Framework for ethical decision making Assume that you are the audit partner on an engagement for a client that has had a string of operating losses. You know the CFO, who is a...
Most questions answered within 3 hours.
-
How many liters of 0.669 M KOH will be needed to raise the pH of
0.339...
asked 1 hour ago -
A liquid of density 1270 kg/m 3 flows steadily through a pipe of
varying diameter and...
asked 1 hour ago -
Questions: What should the American executive do?
'A visiting American executive finds that a foreign subsidiary...
asked 1 hour ago -
Activity based costing was introduced as an alternative to
absorption costing.
1. Discuss using illustration the...
asked 1 hour ago -
1. You own shares of Crane DVD Company and are interested in
selling them. With so...
asked 1 hour ago -
How many grams of He are necessary to fill a balloon having a
volume of 4.5E3...
asked 1 hour ago -
The 2 patients, still in the hospital, were interviewed by a
MoH epidemiologist. The interviews revealed...
asked 1 hour ago -
An uncharged capacitor and a resistor are connected in series to
a source of emf. If...
asked 1 hour ago -
If assets are $540,000 and liabilities are $236,000 what is the
amount of owner’s equity?
asked 1 hour ago -
MATH 3421 Maple Assignment 1 Due February 13, 2019 Maple is a
Computer Algebra System that...
asked 1 hour ago -
CODING IN JAVA
Dates are printed in several common formats. Two of the more
common formats...
asked 1 hour ago -
A hydrometer is a device used to measure the density of a
liquid. It is a...
asked 2 hours ago