When CPAs are able to maintain an independent attitude in fulfilling theirresponsibility, it is referred to asindependence ina. Fact.b. Appearance.c. Conduct.d. Tota

When CPAs are able to maintain an
independent attitude in fulfilling theirresponsibility, it is referred to as
independence in
a. Fact.
b. Appearance.
c. Conduct.
d. Tota
by

1 Answer

Answer :

Fact.
by

Related questions

When CPAs are able to maintain an independence attitude in fulfilling theirresponsibility, it is referred to asindependence ina. Fact.b. Appearance.c. Conduct.d. Total.

Description : When CPAs are able to maintain an independence attitude in fulfilling their responsibility, it is referred to as independence in a. Fact. b. Appearance. c. Conduct. d. Total.

Last Answer : Fact

When the users of financial statements have confidence in the independence of the CPA, it is referred to as in independence in a. Fact. b. Appearance. c. Conduct. d. Tota

Description : When the users of financial statements have confidence in the independence of the CPA, it is referred to as in independence in a. Fact. b. Appearance. c. Conduct. d. Tota

Last Answer : Appearance

When the users of financial statements have confidence in the independence of the CPA, it is referred to as in independence in a. Fact. b. Appearance. c. Conduct. d. Tota

Description : When the users of financial statements have confidence in the independence of the CPA, it is referred to as in independence in a. Fact. b. Appearance. c. Conduct. d. Tota

Last Answer : Appearance

A CPA, while performing an audit, strives to achieve independence in appearance in order to a. Reduce risk and liability. b. Comply with the generally accepted standards of fieldwork. c. Become independent in fact. d. Maintain public confidence in the profession

Description : A CPA, while performing an audit, strives to achieve independence in appearance in order to a. Reduce risk and liability. b. Comply with the generally accepted standards of fieldwork. c. Become independent in fact. d. Maintain public confidence in the profession

Last Answer : Maintain public confidence in the profession

A CPA, while performing an audit, strives to achieve independence in appearance in order to: a. Reduce risk and liability. b. Become independent in fact. c. Comply with GAAS. d. Maintain public confidence in the profession.

Description : A CPA, while performing an audit, strives to achieve independence in appearance in order to: a. Reduce risk and liability. b. Become independent in fact. c. Comply with GAAS. d. Maintain public confidence in the profession.

Last Answer : Maintain public confidence in the profession.

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

Which of the following does not belong to the group: a. Independence of mind b. Independence of fact c. Independence in mental attitude d. Independence in appearance

Description : Which of the following does not belong to the group: a. Independence of mind b. Independence of fact c. Independence in mental attitude d. Independence in appearance

Last Answer : Independence in appearance

Which of the following is not one of the general principles governing the audit of financial statements? a. The auditor should conduct the audit in accordance with PSA. b. The auditor should comply with the Philippine Code of Professional Ethics. c. The auditor should plan and perform the audit with an attitude of professional skepticism. d. The auditor should obtain sufficient appropriate evidence primarily through inquiry and analyticaprocedures to be able to draw reasonable conclusions.l

Description : Which of the following is not one of the general principles governing the audit of financial statements? a. The auditor should conduct the audit in accordance with PSA. b. The ... appropriate evidence primarily through inquiry and analytical procedures to be able to draw reasonable conclusions.

Last Answer : The auditor should obtain sufficient appropriate evidence primarily through inquiry and analytical procedures to be able to draw reasonable conclusions

Internal auditing relates to an a. Audit which is performed by a practitioner as an independent contractor. b. Audit which is incidentally concerned with the detection and prevention of fraud. c. Audit which serves the needs of management d. Audit wherein the auditor should be independent of management both in fact and in mental attitude

Description : Internal auditing relates to an a. Audit which is performed by a practitioner as an independent contractor. b. Audit which is incidentally concerned with the detection and prevention of fraud. c. ... . Audit wherein the auditor should be independent of management both in fact and in mental attitude

Last Answer : Audit which serves the needs of management

Which of the following is an incorrect statement relating to the theoretical framework of auditing? a. Effective internal control structure reduces the probability of fraud or irregularities in an organization. b. Application of generally accepted accounting principles results in a fair presentation of financial statements. c. When examining financial data foropinion thereon, the auditor actsexclusively in the capacity of an auditor.d. In collecting evidence, auditorsshould maintain an attitude of trustabout their clients' assertions. the purpose of expressing an independent

Description : Which of the following is an incorrect statement relating to the theoretical framework of auditing? a. Effective internal control structure reduces the probability of fraud or irregularities in ... collecting evidence, auditors should maintain an attitude of trust about their clients' assertions.

Last Answer : In collecting evidence, auditors should maintain an attitude of trust about their clients' assertions.

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.

Engagement letters are widely used in practice for professional engagements of all types. The primary purpose of the engagement letter is toa. Remind management of its primaryresponsibility over the financialstatements.b. Satisfy the requirements of the Code ofProfessional Conduct for CPAs.c. Provide a starting point for the auditor'spreparation of the preliminary auditprogram.d. Provide a written record of theagreement with the client as to theservices to be provided.

Description : Engagement letters are widely used in practice for professional engagements of all types. The primary purpose of the engagement letter is to a. Remind management of its primary responsibility over the financial ... a written record of the agreement with the client as to the services to be provided.

Last Answer : Provide a written record of the agreement with the client as to the services to be provided.

.Which of the following fee arrangements is in violation of the Code of Professional Conduct? a. A fee based on whether the CPA's report on the client's financial statements results in the approval of a bank loan. b. A fee based on the outcome of a bankruptcy proceeding. c. A fee based on the nature of the service rendered and the CPA's particulaexpertise instead of the actual time spent on the engagement. d. A fee based on the fee charged by the prior auditor.r

Description : .Which of the following fee arrangements is in violation of the Code of Professional Conduct? a. A fee based on whether the CPA's report on the client's financial statements results in the approval of a ... actual time spent on the engagement. d. A fee based on the fee charged by the prior auditor.

Last Answer : A fee based on whether the CPA's report on the client's financial statements results in the approval of a bank loan

The Code of Ethics contains both general ethical principles that are aspirational in character and also a: a. List of violations that would cause the automatic suspension of the CPA’s license. b. Description of the CPA’s procedures for responding to an inquiry from trial board. c. Set of specific, mandatory rules describing levels of conduct the CPA must observe. d. List of specific crimes that would be considered as acts discreditable to the profession.

Description : The Code of Ethics contains both general ethical principles that are aspirational in character and also a: a. List of violations that would cause the automatic suspension of the CPA's license. b ... observe. d. List of specific crimes that would be considered as acts discreditable to the profession.

Last Answer : Set of specific, mandatory rules describing levels of conduct the CPA must observe

Contingent fees charged by CPAs engaged in tax practice are permitted under the rules of professional conduct because: a. This practice establishes fees which are commensurate with the value of the services. b. Attorneys in tax practice customarily set contingent fees. c. Determination by taxing authorities are a matter of judicial proceedings which do not involve third parties. d. The consequences are based upon findings of judicial proceedings or the findings of tax authorities

Description : Contingent fees charged by CPAs engaged in tax practice are permitted under the rules of professional conduct because: a. This practice establishes fees which are commensurate with the value of ... . The consequences are based upon findings of judicial proceedings or the findings of tax authorities

Last Answer : The consequences are based upon findings of judicial proceedings or the findings of tax authorities

Which of the following statements is true? a. Professional standards prohibit CPAs from performing non-assurance engagements. b. Absolute assurance is attainable owing to the fact that much of the evidence available to the CPA is persuasive rather than conclusive. c. The CPA’s conclusion provides a level of assurance about the subject matter. d. The responsible party expresses a conclusion that provides a level of assurance as to whether the subject matter conforms, in all material respects, with the identified suitable criteria

Description : Which of the following statements is true? a. Professional standards prohibit CPAs from performing non-assurance engagements. b. Absolute assurance is attainable owing to the fact that much of ... to whether the subject matter conforms, in all material respects, with the identified suitable criteria

Last Answer : The CPA’s conclusion provides a level of assurance about the subject matter.

Which of the following factors would most likely cause a CPA to decide not to accept a new audit engagement? a. The CPA’s lack of understanding of the prospective client’s internal auditor’s computer-assisted audit techniques. b. Management’s disregard of its responsibility to maintain an adequate internal control environment. c. The CPA’s inability to determine whether related-party transactions were consummated on terms equivalent to arm’s-length transactions. d. Management’s refusal to permit the CPA to perform substantive tests before the year-end.

Description : Which of the following factors would most likely cause a CPA to decide not to accept a new audit engagement? a. The CPA's lack of understanding of the prospective client's internal auditor's ... . d. Management's refusal to permit the CPA to perform substantive tests before the year-end.

Last Answer : Management’s disregard of its responsibility to maintain an adequate internal control environment

Which of the following is not required by PSA No. 315, "Consideration of Fraud in a Financial Statement Audit"? a. Conduct a continuing assessment of the risks of material misstatement due to fraud throughout the audit. b. Conduct a discussion by the audit team of the risks of material misstatement due to fraud. c. Conduct inquiries of the audit committee as to their views about the risks of fraud and their knowledge of any fraud or suspected fraud. d. Conduct the audit with professional skepticism, which includes an attitude that assumes balances are incorrect until verified by the audito

Description : Which of the following is not required by PSA No. 315, "Consideration of Fraud in a Financial Statement Audit"? a. Conduct a continuing assessment of the risks of material ... professional skepticism, which includes an attitude that assumes balances are incorrect until verified by the audito

Last Answer : Conduct the audit with professional skepticism, which includes an attitude that assumes balances are incorrect until verified by the audito

The auditor would ordinarily expect to find evidence to support management representations and not assume that they are necessarily correct". This is an example of: a. Due diligence. b. Unprofessional behavior. c. An attitude of professional skepticism. d. A rule in the code of Professional Conduct.

Description : The auditor would ordinarily expect to find evidence to support management representations and not assume that they are necessarily correct". This is an example of: a. Due diligence. b. Unprofessional behavior. c. An attitude of professional skepticism. d. A rule in the code of Professional Conduct.

Last Answer : An attitude of professional skepticism.

The probability that an auditor's procedures leading to the conclusion that a material error does not exist in an account balance when, in fact, such error does exist is referred to as a. Prevention risk. b. Detection risk. c. Inherent risk. d. Control risk

Description : The probability that an auditor's procedures leading to the conclusion that a material error does not exist in an account balance when, in fact, such error does exist is referred to as a. Prevention risk. b. Detection risk. c. Inherent risk. d. Control risk

Last Answer : Detection risk.

The probability of an auditor's procedures leading to the conclusion that a material error does not exist in an account balance when, in fact, such error does exist is referred to as a. Prevention risk. b. Inherent risk. c. Control risk. d. Detection risk

Description : The probability of an auditor's procedures leading to the conclusion that a material error does not exist in an account balance when, in fact, such error does exist is referred to as a. Prevention risk. b. Inherent risk. c. Control risk. d. Detection risk

Last Answer : b

The exercise of due professional care requires that an auditor a. Uses error-free judgment. b. Considers internal control, including tests of controls. c. Examines all corroborating evidence available. d. Be responsible for fulfilling his or her duties diligently and carefull

Description : The exercise of due professional care requires that an auditor a. Uses error-free judgment. b. Considers internal control, including tests of controls. c. Examines all corroborating evidence available. d. Be responsible for fulfilling his or her duties diligently and carefull

Last Answer : Be responsible for fulfilling his or her duties diligently and carefull

The exercise of due professional care requires that an auditor a. Uses error-free judgment. b. Considers internal control, including tests of controls. c. Be responsible for fulfilling his or her duties diligently and carefully. d. Examines all corroborating evidence available.

Description : The exercise of due professional care requires that an auditor a. Uses error-free judgment. b. Considers internal control, including tests of controls. c. Be responsible for fulfilling his or her duties diligently and carefully. d. Examines all corroborating evidence available.

Last Answer : Be responsible for fulfilling his or her duties diligently and carefully.

When management refuses to disclose in the financial statements noncompliance to laws and regulations which are identified by the independent auditor, the CPA may be charged with unethical conduct for a. Withdrawing from the engagement. b. Issuing a disclaimer of opinionc. Failure to uncover the noncompliance to laws and regulations during the prior audits. d. Reporting these activities to the audit committee..

Description : When management refuses to disclose in the financial statements noncompliance to laws and regulations which are identified by the independent auditor, the CPA may be charged with unethical conduct for ... and regulations during the prior audits. d. Reporting these activities to the audit committee.

Last Answer : Issuing a disclaimer of opinion

The IFAC Code of Professional Conduct will ordinarily be considered to have been violated when the member represents that specific consulting services will be performed for a stated fee and it is apparent at the time of the representation that thea. Actual fee would be substantiallyhigher.b. Actual fee would be substantially lowerthan the fees charged by other membersfor comparable services.c. Fee was a competitive bid.d. Member would not be independent

Description : The IFAC Code of Professional Conduct will ordinarily be considered to have been violated when the member represents that specific consulting services will be performed for a stated fee and it is apparent ... for comparable services. c. Fee was a competitive bid. d. Member would not be independent

Last Answer : Actual fee would be substantially higher

Because an external auditor is paid a fee by a client company, he a. Is absolutely independent and may conduct an audit. b. May be sufficiently independent to conduct an audit. c. Is never considered to be independent. d. Must receive approval of the Securities and Exchange Commission before conducting an audit.

Description : Because an external auditor is paid a fee by a client company, he a. Is absolutely independent and may conduct an audit. b. May be sufficiently independent to conduct an audit. c. Is ... to be independent. d. Must receive approval of the Securities and Exchange Commission before conducting an audit.

Last Answer : May be sufficiently independent to conduct an audit.

Which of the following statements about independent financial statement audit is correct? a. The audit of financial statements relieves management of its responsibilities for die financial statements. b. An audit is designed to provide limited assurance that the financial statements taken as a whole are free from material misstatement. c. The auditor's opinion is not an assurance as to the future viability of the entity as well as the effectiveness and efficiency withwhich management has conductedthe affairs of the entity.d. The procedures required to conduct anaudit in accordance with PSAs shouldbe determined by the client whoengaged the services of the auditor

Description : Which of the following statements about independent financial statement audit is correct? a. The audit of financial statements relieves management of its responsibilities for die financial statements. b. An ... with PSAs should be determined by the client who engaged the services of the auditor

Last Answer : The auditor's opinion is not an assurance as to the future viability of the entity as well as the effectiveness and efficiency withwhich management has conducted the affairs of the entity.

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.

Which of the following is prohibited by the Code of Professional Ethics for CPAs? a. Use of a firm name which includes the name of a retired partner. b. Accepting an engagement or employment which one cannot reasonably expect to complete or discharge with professional competence. c. Announcement in a newspaper of the opening of a public accounting office. d. Engaging in civic activities during business hours

Description : Which of the following is prohibited by the Code of Professional Ethics for CPAs? a. Use of a firm name which includes the name of a retired partner. b. Accepting an engagement or ... newspaper of the opening of a public accounting office. d. Engaging in civic activities during business hours

Last Answer : Accepting an engagement or employment which one cannot reasonably expect to complete or discharge with professional competence

Which of the following is the single feature that most clearly distinguishes auditing, attestation, and assurance: a. CPA's approach to the service. b. Type of service. c. Scope of services. d. Training necessary to perform the service

Description : Which of the following is the single feature that most clearly distinguishes auditing, attestation, and assurance: a. CPA's approach to the service. b. Type of service. c. Scope of services. d. Training necessary to perform the service

Last Answer : Scope of services

Which of the following types of auditing is performed most commonly by CPA's on a contractual basis? a. Internal auditing b. Income tax auditing c. External auditing d. Government auditing

Description : Which of the following types of auditing is performed most commonly by CPA's on a contractual basis? a. Internal auditing b. Income tax auditing c. External auditing d. Government auditing

Last Answer : External auditing

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

Which of the following is the single feature that most clearly distinguishes auditing, attestation, and assurance: a. CPA's approach to the service. b. Type of service. c. Scope of services. d. Training necessary to perform the service

Description : Which of the following is the single feature that most clearly distinguishes auditing, attestation, and assurance: a. CPA's approach to the service. b. Type of service. c. Scope of services. d. Training necessary to perform the service

Last Answer : Scope of services.

The predominant type of attestation service performed by CPAs is: a. Audit. b. Review. c. Compilationd. Management consulting

Description : The predominant type of attestation service performed by CPAs is: a. Audit. b. Review. c. Compilation d. Management consulting

Last Answer : Audit

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

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.

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

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

Individual CPAs, Firms or Partnerships of CPAs, including partners and staff members thereof shall register with the BOA and the PRC. If the accreditation of Velasco and Co., CPAs, was renewed on September 30, 2008, the next renewal must be on or before: a. September 30, 2010 b. September 30, 2011 c. December 31, 2010 d. December 31, 2011

Description : Individual CPAs, Firms or Partnerships of CPAs, including partners and staff members thereof shall register with the BOA and the PRC. If the accreditation of Velasco and Co., CPAs, was renewed on September 30, ... . September 30, 2010 b. September 30, 2011 c. December 31, 2010 d. December 31, 2011

Last Answer : September 30, 2011

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 is the authoritative body designated to promulgate auditing standards? a. Financial Reporting Standards Council b. PICPA c. Association of CPAs in Public Practice and PICPA d. Auditing and Assurance Standards Council

Description : Which of the following is the authoritative body designated to promulgate auditing standards? a. Financial Reporting Standards Council b. PICPA c. Association of CPAs in Public Practice and PICPA d. Auditing and Assurance Standards Council

Last Answer : Auditing and Assurance Standards Council

Though PSAs do not provide "hard and fast rules," they provide subjective guidance which allow the auditors to: a. Only apply those standards that are important to the audit. b. Use adequate professional judgment when applying the standards. c. Tailor their audit to procedures requested by management. d. Accurately interpret the Code of Ethics for CPAs

Description : Though PSAs do not provide "hard and fast rules," they provide subjective guidance which allow the auditors to: a. Only apply those standards that are important to the audit. b. Use ... Tailor their audit to procedures requested by management. d. Accurately interpret the Code of Ethics for CPAs

Last Answer : Use adequate professional judgment when applying the standards.

The revised Code of Ethics is mandatory for all CPAs and is applicable to professional services performed in the Philippines on or: a. Before June 30. 2008 b. After June 30, 2008 c. Before January 1,2008 d. After January 1, 2008

Description : The revised Code of Ethics is mandatory for all CPAs and is applicable to professional services performed in the Philippines on or: a. Before June 30. 2008 b. After June 30, 2008 c. Before January 1,2008 d. After January 1, 2008

Last Answer : After June 30, 2008

.As part of audit planning, CPAs should design audit programs for each individual audit and should include audit steps and procedures to a. Ensure that only material items are audited. b. Provide assurance that the objectives of the audit are met. c. Detect and eliminate fraud. d. Increase the amount of management information available

Description : .As part of audit planning, CPAs should design audit programs for each individual audit and should include audit steps and procedures to a. Ensure that only material items are audited. b. Provide ... are met. c. Detect and eliminate fraud. d. Increase the amount of management information available

Last Answer : Provide assurance that the objectives of the audit are met.