Haley, a CA CPA, is a manager with the firm Avis & Dorris, CPAs. Haley is involved primarily with tax engagements but is also called to help if someone is needed on a financial statement audit. Haley is neither a member of the AICPA or CalCPA. Is Haley bound by AICPA pronouncements? No. Only members of the AICPA must follow AICPA pronouncements. Yes. In many instances, CA licensees must adhere to AICPA pronouncements, whether or not they are members of the AICPA. Only if she is a member of both the AICPA and CalCPA. None of the above.
Haley, a CA CPA, is a manager with the firm Avis & Dorris, CPAs. Haley is involved primarily with tax engagements but is also called to help if someone is needed on a financial statement audit. Haley is neither a member of the AICPA or CalCPA. Is Haley bound by AICPA pronouncements? No. Only members of the AICPA must follow AICPA pronouncements. Yes. In many instances, CA licensees must adhere to AICPA pronouncements, whether or not they are members of the AICPA. Only if she is a member of both the AICPA and CalCPA. None of the above.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Haley, a CA CPA, is a manager with the firm Avis & Dorris, CPAs. Haley is involved primarily with tax engagements but is also called to help if someone is needed on a financial statement audit. Haley is neither a member of the AICPA or CalCPA.
Is Haley bound by AICPA pronouncements?
- No. Only members of the AICPA must follow AICPA pronouncements.
- Yes. In many instances, CA licensees must adhere to AICPA pronouncements, whether or not they are members of the AICPA.
- Only if she is a member of both the AICPA and CalCPA.
- None of the above.
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