Without the consent of the client, a CPA should not disclose confidential information contained in working papers to a: a. Voluntary quality control review board. b. CPA firm that has purchased the CPA’s accounting practice. c. National court that has issued a valid subpoena. d. Disciplinary body created under statute.

Without the consent of the client, a CPA
should not disclose confidential
information contained in working papers to
a:
a. Voluntary quality control review board.
b. CPA firm that has purchased the
CPA’s accounting practice.
c. National court that has issued a valid
subpoena.
d. Disciplinary body created under
statute.
by

1 Answer

Answer :

CPA firm that has purchased the
CPA’s accounting practice.
by

Related questions

The confidential relationship will be violated if, without client's permission, the CPA provides working papers about client to a. A court of law which subpoenas them. b. Another CPA firm as part of a peer review. c. Another CPA firm which has just purchased the CPA's entire practice. d. An investigative or disciplinary body which is conducting a review of the CPA's practice.

Description : The confidential relationship will be violated if, without client's permission, the CPA provides working papers about client to a. A court of law which subpoenas them. b. Another CPA firm as part ... . d. An investigative or disciplinary body which is conducting a review of the CPA's practice.

Last Answer : Another CPA firm which has just purchased the CPA's entire practice.

In which of the following circumstances would a CPA be bound by ethics to refrain from disclosing any confidential information obtained during the course of a professional engagement? a. The CPA is issue a summons enforceable by a court order which orders the CPA to present confidential information. b. A major stockholder of a client company seeks accounting information from the CPA after management declined to disclose the requested information. c. Confidential client information is made available as part of a quality review of the CPA's practice by a peer review team authorized by the PICPA. d. An inquiry by a disciplinary body of PICPA requests confidential client information

Description : In which of the following circumstances would a CPA be bound by ethics to refrain from disclosing any confidential information obtained during the course of a professional engagement? a. The CPA is ... the PICPA. d. An inquiry by a disciplinary body of PICPA requests confidential client information

Last Answer : A major stockholder of a client company seeks accounting information from the CPA after management declined to disclose the requested information

A CPA in public practice shall not disclose any confidential client information without the specific consent of the client. The confidentiality rule is violated if CPA disclosed information without client's consent as a result of a a. Subpoena or summons. b. Peer review. c. Request by client's largest stockholder. d. Complaint filed with the trial board of the Board of Accountancy

Description : A CPA in public practice shall not disclose any confidential client information without the specific consent of the client. The confidentiality rule is violated if CPA disclosed information without client' ... s largest stockholder. d. Complaint filed with the trial board of the Board of Accountancy

Last Answer : Request by client's largest stockholder.

Which of the following statements concerning a CPA's disclosure of confidential client information is ordinarily correct? a. Disclosure should not be made even if such disclosure will protect the CPA's professional interests in legal proceedings. b. Disclosure should be made only if there is a legal, or professional duty to make the disclosure. c. Disclosure may be made to any party on consent of the client. d. Disclosure may be made to any government agency without subpoena.

Description : Which of the following statements concerning a CPA's disclosure of confidential client information is ordinarily correct? a. Disclosure should not be made even if such disclosure will protect the CPA's ... consent of the client. d. Disclosure may be made to any government agency without subpoena.

Last Answer : Disclosure may be made to any party on consent of the client.

The QRC shall have the following functions: a. Conduct quality control review on applicants for registration to practice public accountancy and render a report on such quality review. b. Mete out sentences of imprisonment to CPAs who fail to present a valid system of quality control. c. Revoke the certificate of registration and professional ID of an individual CPA, firm, or partnership of CPAs who have not observed quality control measures and who has not complied with the standards of quality prescribed for the practice of public accountancy. d. All of these

Description : The QRC shall have the following functions: a. Conduct quality control review on applicants for registration to practice public accountancy and render a report on such quality review. b. Mete out ... with the standards of quality prescribed for the practice of public accountancy. d. All of these

Last Answer : Conduct quality control review on applicants for registration to practice public accountancy and render a report on such quality review.

A violation of the ethical standards would most likely have occurred when a CPA a. Made arrangement with a bank to collect notes issued by a client in payment of fees due. b. Joined an accounting firm made up of three non-CPA practitioners. c. Issued an unqualified opinion on the 2006 financial statements when fees for the 2005 audit were unpaid. d. Purchased a bookkeeping firm's practice of monthly write-ups for a percentage of fees received over a three-year period

Description : A violation of the ethical standards would most likely have occurred when a CPA a. Made arrangement with a bank to collect notes issued by a client in payment of fees due. b. Joined an ... bookkeeping firm's practice of monthly write-ups for a percentage of fees received over a three-year period

Last Answer : Issued an unqualified opinion on the 2006 financial statements when fees for the 2005 audit were unpaid

A violation of the ethical standards would most likely have occurred when a CPA a. Made arrangement with a bank to collect notes issued by a client in payment of fees due. b. Joined an accounting firm made up of three non-CPA practitioners. c. Issued an unqualified opinion on the 2010 financial statements when fees for the 2009 audit were unpaid. d. Purchased a bookkeeping firm's practice of monthly write-ups for a percentage of fees received over a three-year period.

Description : A violation of the ethical standards would most likely have occurred when a CPA a. Made arrangement with a bank to collect notes issued by a client in payment of fees due. b. Joined an accounting ... firm's practice of monthly write-ups for a percentage of fees received over a three-year period.

Last Answer : Issued an unqualified opinion on the 2010 financial statements when fees for the 2009 audit were unpaid

It involves a study or evaluation of the quality of audit of financial statements through a review of quality control measures established by on CPA firms and individual CPAs in public practice to ensure compliance with accounting and auditing standards and practices a. External audit b. Compliance audit c. Peer review d. Quality review

Description : It involves a study or evaluation of the quality of audit of financial statements through a review of quality control measures established by on CPA firms and individual CPAs in public practice to ... standards and practices a. External audit b. Compliance audit c. Peer review d. Quality review

Last Answer : Quality review

A professional accountant has a professional duty or right disclose confidential information in each of the following, except: a. To comply with technical standards and ethics requirements. b. To disclose to the Bureau of Internal Revenue any fraudulent scheme committed by the client on payment of income tax. c. To comply with the quality review of a member body or professional body d. To respond to an inquiry or investigation by a member body or regulatory body

Description : A professional accountant has a professional duty or right disclose confidential information in each of the following, except: a. To comply with technical standards and ethics requirements. b. To disclose to ... body d. To respond to an inquiry or investigation by a member body or regulatory body

Last Answer : To disclose to the Bureau of Internal Revenue any fraudulent scheme committed by the client on payment of income tax

A professional accountant has a professional duty or right to disclose confidential information in each of the following, except: a. To disclose to BIR fraudulent scheme committed by the client on payment of income tax. b. To comply with technical standards and ethics requirements. c. To comply with the quality review of amember body or professional bodyd. To respond to an inquiry or investigationby a member body or regulatory body

Description : A professional accountant has a professional duty or right to disclose confidential information in each of the following, except: a. To disclose to BIR fraudulent scheme committed by the client on payment ... body d. To respond to an inquiry or investigation by a member body or regulatory body

Last Answer : To disclose to BIR fraudulent scheme committed by the client on payment of income tax

A professional accountant has a professional duty or right to disclose confidential information in each of the following, except: a. To comply with technical standards and ethics requirements. b. To disclose to BIR fraudulent scheme committed by the client on payment of income tax. c. To comply with the quality review of a member body or professional body d. To respond to an inquiry or investigation by a member body or regulatory body

Description : A professional accountant has a professional duty or right to disclose confidential information in each of the following, except: a. To comply with technical standards and ethics requirements. b. To disclose ... body d. To respond to an inquiry or investigation by a member body or regulatory body

Last Answer : To disclose to BIR fraudulent scheme committed by the client on payment of income tax.

Which of the following is a violation Confidentiality rule of the Code of Ethics? a. The CPA, in response to a court subpoena, submits auditor-prepared workpapers as evidence of possible illegal acts perpetrated by the client. b. The CPA discloses to the board of directors a scheme concocted by top management to intentionally inflate earningsc. The CPA warns Client B as to theinadvisability of acquiring Client A.The CPA bases this warning onknowledge of Client A's financialcondition and a belief that themanagement of Client A lacksintegrity. This knowledge wasobtained by the CPA as a result ofauditing Client A during the pastseveral year is.d. The CPA, when questioned in court,admits to knowledge of certain illegalacts perpetrated by the client.

Description : Which of the following is a violation Confidentiality rule of the Code of Ethics? a. The CPA, in response to a court subpoena, submits auditor-prepared workpapers as evidence of possible illegal ... CPA, when questioned in court, admits to knowledge of certain illegal acts perpetrated by the client.

Last Answer : The CPA warns Client B as to the inadvisability of acquiring Client A. The CPA bases this warning on knowledge of Client A's financial condition and a belief that the management of Client A lacks integrity ... was obtained by the CPA as a result of auditing Client A during the past several year is.

Existing accountant, as defined in the Code of Ethics, means a. A professional accountant employed in industry, commerce, the public sector or education. b. Those persons who hold a valid certificate issued by the Board of Accountancy. c. A professional accountant in public practice currently holding an audit appointment or carrying out accounting, taxation, consulting or similar professional services for a client. d. A sole proprietor, or each partner or person occupying a position similar to that of a partner and each staff in a practice providing professional services

Description : Existing accountant, as defined in the Code of Ethics, means a. A professional accountant employed in industry, commerce, the public sector or education. b. Those persons who hold a valid ... a position similar to that of a partner and each staff in a practice providing professional services

Last Answer : A professional accountant in public practice currently holding an audit appointment or carrying out accounting, taxation, consulting or similar professional services for a client.

Working papers prepared by a CPA in connection with an audit engagement are owned by the CPA, subject to certain limitations. The rationale for this rule is to a. Protect the working papers from, being subpoenaed. b. Provide the CPA with evidence and documentation which may be helpful in the event of a lawsuit. c. Provide the basis for excluding admission of the working papers as evidence because of the privileged communication rule. d. Establish a continuity of relationship with the client whereby indiscriminate replacement of CPAs is discouraged.

Description : Working papers prepared by a CPA in connection with an audit engagement are owned by the CPA, subject to certain limitations. The rationale for this rule is to a. Protect the ... d. Establish a continuity of relationship with the client whereby indiscriminate replacement of CPAs is discouraged.

Last Answer : Provide the CPA with evidence and documentation which may be helpful in the event of a lawsuit.

The working papers prepared by a CPA in connection with an audit engagement are owned by the CPA, subject to certain limitations. The rationale for this rule is to a. Protect the working papers from being subpoenaed. b. Provide the basis for excluding admission of the working papers as evidence because of the privileged communication rulec. Provide the CPA with evidence and documentation which may be helpful in the event of a lawsuit. d. Establish a continuity of relationship with the client whereby indiscriminate replacement of CPAs is discouraged.

Description : The working papers prepared by a CPA in connection with an audit engagement are owned by the CPA, subject to certain limitations. The rationale for this rule is to a. Protect the ... d. Establish a continuity of relationship with the client whereby indiscriminate replacement of CPAs is discouraged

Last Answer : Provide the CPA with evidence and documentation which may be helpful in the event of a lawsuit

A CPA firm is considered independent when it performs which of the following services for a publicly traded audit client? a. Serving as a member of the client’s board of directors. b. Accounting information system design and implementation. c. Tax return preparation as approved by the board of directors. d. Determining which accounting policies will be adopted by the client

Description : A CPA firm is considered independent when it performs which of the following services for a publicly traded audit client? a. Serving as a member of the client's board of directors. b. ... approved by the board of directors. d. Determining which accounting policies will be adopted by the client

Last Answer : Tax return preparation as approved by the board of directors.

A CPA firm is considered independent when it performs which of the following services for a publicly traded audit client? a. Serving as a member of the client’s board of directors. b. Accounting information system design and implementation. c. Tax return preparation as approved by the board of directors. d. Determining which accounting policies will be adopted by the client

Description : A CPA firm is considered independent when it performs which of the following services for a publicly traded audit client? a. Serving as a member of the client's board of directors. b. ... approved by the board of directors. d. Determining which accounting policies will be adopted by the client

Last Answer : Tax return preparation as approved by the board of directors.

A CPA firm is considered independent when it performs which of the following services for a publicly-traded audit client? a. Serving as a member of the client's board of directors. b. Determining which accounting policies will be adopted by the client. c. Accounting information system design and implementation. d. Tax return preparation as approved by the board of directors.

Description : A CPA firm is considered independent when it performs which of the following services for a publicly-traded audit client? a. Serving as a member of the client's board of directors. b. ... information system design and implementation. d. Tax return preparation as approved by the board of directors.

Last Answer : Tax return preparation as approved by the board of directors.

The Code of Professional Ethics states, in part, that a CPA should maintain integrity and objectivity. Objectivity refers to the CPA's ability to a. Determine accounting practices that were consistently applied. b. Maintain an impartial attitude on all matters which come under his review. c. Determine the materiality of items. d. Insist on all matters regarding audit procedures.

Description : The Code of Professional Ethics states, in part, that a CPA should maintain integrity and objectivity. Objectivity refers to the CPA's ability to a. Determine accounting practices that were consistently ... . c. Determine the materiality of items. d. Insist on all matters regarding audit procedures.

Last Answer : Maintain an impartial attitude on all matters which come under his review.

The Code of Professional Ethics states, in part, that a CPA should maintain integrity and objectivity. Objectivity refers to the CPA's ability to a. Insist on all matters regarding audit procedures. b. Determine the materiality of items. c. Determine accounting practices that were consistently applied. d. Maintain an impartial attitude on all matters which come under his review

Description : The Code of Professional Ethics states, in part, that a CPA should maintain integrity and objectivity. Objectivity refers to the CPA's ability to a. Insist on all matters regarding audit ... were consistently applied. d. Maintain an impartial attitude on all matters which come under his review

Last Answer : Maintain an impartial attitude on all matters which come under his review

Regarding practice of accountancy, which of the following certificates is issued to a CPA first, a certificate of registration or a certificate of accreditation? a. Certificate of registration b. Certificate of accreditation c. Both are issued at the same timed. Neither are issued to CPAs

Description : Regarding practice of accountancy, which of the following certificates is issued to a CPA first, a certificate of registration or a certificate of accreditation? a. Certificate of registration b. Certificate of accreditation c. Both are issued at the same time d. Neither are issued to CPAs

Last Answer : Certificate of registration

This refers to those persons who hold a valid certificate issued by the Board of Accountancy. a. Senior accounting practitioner. b. Professional accountant. c. Professional accountant in public practice. d. Audit associate.

Description : This refers to those persons who hold a valid certificate issued by the Board of Accountancy. a. Senior accounting practitioner. b. Professional accountant. c. Professional accountant in public practice. d. Audit associate.

Last Answer : Professional accountant.

A review of a company's financial statements by a CPA firm: a. Is similar in scope to an audit and adds similar credibility to the statements. b. Is significantly less in scope than an audit and results in a report which provides positive assurance, although not absolute assurance. c. Concludes with the issuance of a report expressing the CPA's opinion as to the fairness of the financial statements. d. Is designed to provide only moderate assurance

Description : A review of a company's financial statements by a CPA firm: a. Is similar in scope to an audit and adds similar credibility to the statements. b. Is significantly less in scope than an ... s opinion as to the fairness of the financial statements. d. Is designed to provide only moderate assurance

Last Answer : Is designed to provide only moderate assurance

The objective of quality control mandates that a public accounting firm should establish policies and procedures for professional development which provide reasonable assurance that all entry-level personnel a. Prepare working papers which are standardized in form and content. b. Will advance within the organization. c. Develop specialties in specific areas of public accounting. d. Have the knowledge required to enable them to fulfill responsibilities assigned

Description : The objective of quality control mandates that a public accounting firm should establish policies and procedures for professional development which provide reasonable assurance that all entry-level ... accounting. d. Have the knowledge required to enable them to fulfill responsibilities assigned

Last Answer : Have the knowledge required to enable them to fulfill responsibilities assigned

In determining the scope and nature of services to be performed in public practice, a CPA firm should a. Have in place internal control procedures b. Only perform accounting related services c. Require independence for all services performed d. Determine that the performance of all services is consistent with the firm's members' role as professionals

Description : In determining the scope and nature of services to be performed in public practice, a CPA firm should a. Have in place internal control procedures b. Only perform accounting related services c. ... that the performance of all services is consistent with the firm's members' role as professionals

Last Answer : Determine that the performance of all services is consistent with the firm's members' role as professionals

Which of the following mostly describes the function of AASC? a. To monitor full compliance by auditors to PSAs. b. To assist the Board of Accountancy in conducting administrative proceedings on erring CPAs in audit practice. c. To promulgate auditing standards, practices and procedures that shall be generally accepted by the accounting profession in the Philippines. d. To undertake continuing research on both auditing and financial accounting in order to make them responsive to the needs of the public

Description : Which of the following mostly describes the function of AASC? a. To monitor full compliance by auditors to PSAs. b. To assist the Board of Accountancy in conducting administrative proceedings on ... both auditing and financial accounting in order to make them responsive to the needs of the public

Last Answer : To promulgate auditing standards, practices and procedures that shall be generally accepted by the accounting profession in the Philippines.

Which of the following will impair the independence of a CPA in public practice? a. He has his name and address listed on a one-page section of the telephone book. b. He obtained a loan from a bank under the normal lending procedures, terms and requirements of that bank. c. He holds one share of the client's capital stock. d. He failed to disclose a client's departure from GAAP.

Description : Which of the following will impair the independence of a CPA in public practice? a. He has his name and address listed on a one-page section of the telephone book. b. He obtained a loan from a bank ... one share of the client's capital stock. d. He failed to disclose a client's departure from GAAP.

Last Answer : He holds one share of the client's capital stock.

To obtain an understanding of a continuing client’s business in planning an audit, an auditor most likely would a. Read specialized industry journals. b. Review prior year working papers and the permanent file for the client. c. Reevaluate the client’s internal control environment. d. Perform tests of details of transactions and balances

Description : To obtain an understanding of a continuing client's business in planning an audit, an auditor most likely would a. Read specialized industry journals. b. Review prior year working papers and ... the client's internal control environment. d. Perform tests of details of transactions and balances

Last Answer : Review prior year working papers and the permanent file for the client

Which of the following best describes why publicly-traded corporations follow the practice of having the outside auditor appointed by the board of directors or elected by the stockholders? a. To comply with the regulations of the Accounting Standards Council. b. To emphasize auditor independence from the management of the corporation. c. To encourage a policy of rotation of the independent auditors. d. To provide the corporate owners with an opportunity to voice their opinion concerning the quality of the auditing firm selected by the director

Description : Which of the following best describes why publicly-traded corporations follow the practice of having the outside auditor appointed by the board of directors or elected by the stockholders? a. ... opportunity to voice their opinion concerning the quality of the auditing firm selected by the director

Last Answer : To emphasize auditor independence from the management of the corporation

An engagement in which a CPA firm arranges for a critical review of its practices by another CPA firm. a. Attestation engagement b. Peer review engagement c. Quality control engagement d. Quality assurance engagemen

Description : An engagement in which a CPA firm arranges for a critical review of its practices by another CPA firm. a. Attestation engagement b. Peer review engagement c. Quality control engagement d. Quality assurance engagemen

Last Answer : Peer review engagement

The attest function: a. Is an essential part of every engagement performed by a CPA. b. Includes the preparation of a written report of the CPA's conclusion. c. Requires a complete review of all transactions during the period under examination. d. Requires a review of a sample of transactions during the period under examination.

Description : The attest function: a. Is an essential part of every engagement performed by a CPA. b. Includes the preparation of a written report of the CPA's conclusion. c. Requires a complete review ... under examination. d. Requires a review of a sample of transactions during the period under examination.

Last Answer : Includes the preparation of a written report of the CPA's conclusion

A member in public practice may perform for a contingent fee any professional services for a client for whom the member or member's firm performs a. An audit. b. A review. c. A compilation used only by management. d. An audit of prospective financial information

Description : A member in public practice may perform for a contingent fee any professional services for a client for whom the member or member's firm performs a. An audit. b. A review. c. A compilation used only by management. d. An audit of prospective financial information

Last Answer : A compilation used only by management.

A member in public practice may perform for a contingent fee any professional services for a client for whom the member or member's firm performs a. An auditb. A review. c. A compilation used only by management. d. An audit of prospective financial information..

Description : A member in public practice may perform for a contingent fee any professional services for a client for whom the member or member's firm performs a. An audit. b. A review. c. A compilation used only by management. d. An audit of prospective financial information.

Last Answer : A compilation used only by management.

A CPA who has been retained by a client that operates in an industry totally new to him a. May not accept such an engagement. b. May accept the engagement only if the accounting firm specializes in the audit of commercial banks. c. May accept the engagement after attaining a suitable level of understanding of the transactions and accounting practices unique to commercial banking. d. May accept the engagement because training as a CPA transcends unique industry characteristics

Description : A CPA who has been retained by a client that operates in an industry totally new to him a. May not accept such an engagement. b. May accept the engagement only if the ... to commercial banking. d. May accept the engagement because training as a CPA transcends unique industry characteristics

Last Answer : May accept the engagement after attaining a suitable level of understanding of the transactions and accounting practices unique to commercial banking.

Which of the following factors most likely would cause a CPA to decline a new audit engagement? a. The CPA does not understand the entity's operations and industry. b. The CPA is unable to review the predecessor auditor's working papers. c. Management is unwilling to permit inquiry of its legal counsel. d. Management acknowledges that the entity has had recurring operating losses

Description : Which of the following factors most likely would cause a CPA to decline a new audit engagement? a. The CPA does not understand the entity's operations and industry. b. The CPA is ... permit inquiry of its legal counsel. d. Management acknowledges that the entity has had recurring operating losses

Last Answer : Management is unwilling to permit inquiry of its legal counsel

A CPA is criminally liable if he a. Refuses to turn over the schedules or working papers prepared by the client staff to the client. b. Performs an audit in a negligent manner. c. Intentionally allows an omission of a material fact required to be stated in a financial statement. d. Was not able to submit the audited financial statements on time

Description : A CPA is criminally liable if he a. Refuses to turn over the schedules or working papers prepared by the client staff to the client. b. Performs an audit in a negligent manner. c. Intentionally ... be stated in a financial statement. d. Was not able to submit the audited financial statements on time

Last Answer : Intentionally allows an omission of a material fact required to be stated in a financial statement

A CPA is criminally liable if he a. Refuses to turn over the schedules or working papers prepared by the client staff to the client. b. Performs an audit in a negligent manner. c. Intentionally allows an omission of a material fact required to be stated in a financial statement. d. Was not able to submit the audited financial statements on time

Description : A CPA is criminally liable if he a. Refuses to turn over the schedules or working papers prepared by the client staff to the client. b. Performs an audit in a negligent manner. c. Intentionally ... be stated in a financial statement. d. Was not able to submit the audited financial statements on time

Last Answer : Intentionally allows an omission of a material fact required to be stated in a financial statement.

The Philippine Accountancy Act of 2004 provides that all Working papers made during an audit shall be the property of the auditor. These working papers shall include the following, except: a. Working papers prepared by the CPA and his staff. b. Analysis and schedule prepared and submitted to the auditor by his client's staff. c. Excerpts or copies of documents furnished to the auditor. d. Any report submitted by the auditor to his client.

Description : The Philippine Accountancy Act of 2004 provides that all Working papers made during an audit shall be the property of the auditor. These working papers shall include the following, except: a. Working ... of documents furnished to the auditor. d. Any report submitted by the auditor to his client.

Last Answer : Any report submitted by the auditor to his client.

A CPA is conducting the first audit of a client’s financial statements. The CPA hopes to reduce the audit work by consulting with the predecessor auditor and reviewing the predecessor's working papers. This procedure is a. Acceptable if the CPA refers in the audit report to reliance upon the predecessor auditor's work. b. Required if the CPA is to render an unqualified opinion. c. Unacceptable because the CPA should bring an independent viewpoint to a new engagement. d. Acceptable if the client and the predecessor auditor agree to it.

Description : A CPA is conducting the first audit of a client's financial statements. The CPA hopes to reduce the audit work by consulting with the predecessor auditor and reviewing the predecessor's working papers. ... to a new engagement. d. Acceptable if the client and the predecessor auditor agree to it.

Last Answer : Acceptable if the client and the predecessor auditor agree to it.

Before accepting an engagement to audit a new client, a CPA is required to obtain a. An understanding of the prospective client’s industry and business. b. The prospective client’s signature to the engagement letter. c. A preliminary understanding of the prospective client’s control environment. d. The prospective client’s consent to make inquiries of the predecessor auditor, if any.

Description : Before accepting an engagement to audit a new client, a CPA is required to obtain a. An understanding of the prospective client's industry and business. b. The prospective client's signature to ... . d. The prospective client's consent to make inquiries of the predecessor auditor, if any.

Last Answer : The prospective client’s consent to make inquiries of the predecessor auditor, if any.

To emphasize auditor independence from management, many corporations follow the practice of a. Appointing a partner of the CPA firm conducting the examination to the corporation's audit committee. b. Establishing a policy of discouraging social contact between employees of the corporation and the staff of the independent auditor. c. Requesting that a representative of the independent auditor be on hand at the annual stockholders' meeting. d. Having the independent auditor report to an audit committee of outside members of the board of directors

Description : To emphasize auditor independence from management, many corporations follow the practice of a. Appointing a partner of the CPA firm conducting the examination to the corporation's audit committee. b ... the independent auditor report to an audit committee of outside members of the board of directors

Last Answer : Having the independent auditor report to an audit committee of outside members of the board of directors

.In which of the following instances would the independence of the CPA not be considered to be impaired? The CPA has been retained as the auditor of a brokerage firm a. Which owes the CPA audit fees for more than one year. b. In which the CPA has a large active margin account. c. In which the CPA's brother is the controller. d. Which owes the CPA audit fees for services in the current year and has just filed a petition for bankruptcy

Description : .In which of the following instances would the independence of the CPA not be considered to be impaired? The CPA has been retained as the auditor of a brokerage firm a. Which owes the CPA audit ... owes the CPA audit fees for services in the current year and has just filed a petition for bankruptcy

Last Answer : Which owes the CPA audit fees for services in the current year and has just filed a petition for bankruptcy

In which of the following instances would the independence of the CPA not be considered to be impaired? The CPA has been retained as the auditor of a brokerage firm a. Which owes the CPA audit fees for more than one year. b. In which the CPA has a large active margin account. c. In which the CPA’s brother is the controller. d. Which owes the CPA audit fees for the current year services and jusfiled a petition for bankruptcyt

Description : In which of the following instances would the independence of the CPA not be considered to be impaired? The CPA has been retained as the auditor of a brokerage firm a. Which owes the CPA audit ... . Which owes the CPA audit fees for the current year services and just filed a petition for bankruptcy

Last Answer : Which owes the CPA audit fees for the current year services and justfiled a petition for bankruptcy

The death, or disability of an individual CPA and/or the dissolution and liquidation of a firm or partnership of CPAs shall be reported to the BOA not later than ___ days from the date of such death, dissolution or liquidation. a. 15 b. 30 c. 60 d. 90

Description : The death, or disability of an individual CPA and/or the dissolution and liquidation of a firm or partnership of CPAs shall be reported to the BOA not later than ___ days from the date of such death, dissolution or liquidation. a. 15 b. 30 c. 60 d. 90

Last Answer : 30

The CPA shall not concurrently engage in any business or occupation which impairs his objectivity in rendering professional services or which is inconsistent with his practice or employment. This provision of the code of ethics is applicable to: a. Only to CPAs engaged in public accountancy. b. CPAs engaged in public accountancy or employed in a private enterprise. c. CPAs engaged in public accountancy or employed in a private enterprise or government agency. d. All CPAs engaged in public accountancy, or employed in a private enterprise, a government agency or an educational institution

Description : The CPA shall not concurrently engage in any business or occupation which impairs his objectivity in rendering professional services or which is inconsistent with his practice or employment. This ... accountancy, or employed in a private enterprise, a government agency or an educational institution

Last Answer : All CPAs engaged in public accountancy, or employed in a private enterprise, a government agency or an educational institution