The AICPA Code of Professional Conduct will ordinarily be considered to have been violated when the CPA represents that specific consulting services will be performed for a stated fee and it is apparent at the time of the representation that the:

Q: Under what circumstances can a CPA be paid on a commission basis? Why do you think the regulation…

A: CPA stands for Certified Public Accountant. A CPA is a licensed accounting professional who has met…

Q: If you receive a subpoena from a court for your client’s private information, what should you do?…

A: Subpoena is an order made by a court at the request of a party to a court case that requires the…

Q: 4)  Explain if, and why an accountant will be held liable to: its client,  to 3rd party intended…

A: An accountant owes it to their clients to use sound professional judgement. According to the Revised…

Q: Would independence be impaired if a CPA firm retained an independent contractor on a part-time basis…

A: Statutory audit is done in order to get a certain opinion by the independent auditor conducting…

Q: A CPA is not independent with respect to a company’s financial statements. The CPA may issue what…

A: Audit report is the opinion expressed by the auditor after careful examination of the books of…

Q: What factors will the courts take into account when deciding whether a person is an  employee or an…

A: In determining whether a person is an employee or an independent contractor, the courts will…

Q: Which of the following statements is most likely to be included in an attorney letter?a. “Certain…

A:

Q: Under what circumstances is a CPA required to notify a client that a CPA is licensed by the…

A: In California, a CPA is required to notify their clients of their licensing status by the California…

Q: Which of the following does not constitute fair presentation and compliance with IFRS? A) an entity…

A: When financial statements are devoid of substantial misstatements and adequately portray an entity's…

Q: A CPA's duty of due care to a client most likely be breached when a CPA

A: Professional competence & due care means to maintain Secrecy & have knowledge about the…

Q: When a client’s financial statements contain a material departure from an FASB Statementon…

A: Financial statements: Financial statements are condensed summary of transactions communicated in the…

Q: If the agency relationship is undisclosed, the agent is liable to the third party if they fail to…

A: A fiduciary relationship in which one person, referred to as the principal, authorizes another…

Q: Under the Ultramares rule, to which of the following parties will an accountant be liable for…

A: The ultramares doctrine represents the ordinary negligence for liability to third party. It is…

Q: The Federal Rules of Evidence details the following types of privilege: Clergy-Client O…

A: The Federal Rules of Evidence are a collection of rules that regulate the admission of evidence in…

Q: The AICPA Code of Professional Conduct would be violated if a CPA accepted a fee for services and…

A: The AICPA Code of Professional Conduct would not necessarily be violated if a CPA accepted a fee for…

Q: The AICPA Code of Professional Conduct derives its authority from the Bylaws of the AICPA. True or…

A: American Institute of Certified Public Accountants (AICPA) is a professional organization of CPA…

Q: What are the concepts of legal responsibility applicable to the accountant in his audit functions…

A: Legal Responsibility of Auditor: Every day, more and more people are becoming concerned about the…