Question 6 The AICPA Code of Professional Conduct includes which of the following principles? Professionalism O...
The six Principles of the AICPA Code of Professional Conduct are responsibilities, public interest, integrity, objectivity and independence, due care, and scope and nature of services. Describe three of these principles and use examples to clarify your description.
Statements Answer 1. The AICPA Code of Professional Conduct includes: Principles, Rules and interpretations st be independent of any enterprise and must also ______independent to third parties. A CPA's independence with respect to an enterprise will be impaired if the CPA has any or material indirect financial interest in the enterprise. In evaluating independence, financial interests of a CPA's are ascribed directly to the CPA CPAs in public practice should not accept a fee from an audit client that is...
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.
15. Consider the following statements (Chapter 19] : I. Regarding the AICPA Code of Professional Conduct, the rules contained in Section 1.200 cover issues relating to integrity and objectivity. II. "A member shall not commit an act discreditable to the profession" can be found in Section 1.400.001 of the AICPA'S Rules of Conduct. a. I is true; II is true b. I is true; II is false I is false; II is true d. I is false; II is false...
Which of the following is a violation of the AICPA Code of Professional Conduct? O A. Management was so impressed with the preliminary audit work performed by the audit senior that they gave her a $20 gift certificate to be used for lunch at a local restaurant. O B. Jones Associates, CPAs are members of the AICPA. While the founder of the firm, William Jones, recently passed away, the audit firm continues to be named Jones & Associates, CPAs. OC....
Which of the following is an authoritative body that the AICPA Code of Professional Conduct authorizes to promulgate auditing and attestation standards? Financial Accounting Standards Board. International Accounting Standards Board. Auditing Standards Commission. Public Company Accounting Oversight Board.
Question 4 Which of the following is false regarding professional conduct? Selected Answer: Ethical principles do not apply to all members of the AICPA, only CPAs in public practice. Answers: The expectation of professional conduct stems from the need for public confidence. It is essential that users regard CPA firms as competent and unbiased. Ethical principles do not apply to all members of the AICPA, only CPAs in public practice. The term professional means a responsibility for conduct that extends...
Which of the following is an authoritative body that the AICPA Code of Professional Conduct authorizes to promulgate auditing and attestation standards? A Public Company Accounting Oversight Board. B International Accounting Standards Board. C Financial Accounting Standards Board. D Auditing Standards Commission. A requirement to design recruitment processes and procedures to help the firm select individuals meeting minimum academic requirements established by the firm is an example of a quality control procedure in the area of: A Acceptance and continuance...
Which of the following is most likely to violate the AICPA Code of Professional Conduct? Performing professional services relating to judicial proceedings. Accepting audit fees fixed by a public authority. Issuing the current year audit report when fees for the past year audit remain uncollected. Submitting a competitive bid to a potential audit client.