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: Which of the following is not a requirement for expense reimbursements to be an accountable plan?…

A: Reimbursement plan complies with IRS regulations, according to IRS regulations, a reimbursement plan…

Q: Accoring to the AICPA Code of Professional Conduct, which of the following activities result in an…

A: All the AICPA members are obligated to follow all the norms of the code of professional conduct. It…

Q: Which of the following would not be considered confidential information obtained in thecourse of an…

A: In the course of an engagement, there are some confidential information for which client's consent…

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: What are the section in the Code of Ethics for Professional Accoountants that has Prohibitions?

A: Prohibitions are stated in the following section

Q: Assume that an auditor makes an agreement with a client that theaudit fee will be contingent upon…

A: Definition: Auditor: An auditor is an accounting professional hired by a company to review the…

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: Regarding CFA Standard 1 (B), if all relevant parties are notified in writing of the gift or benefit…

A: CFA Standard 1(B) states that participants and applicants are forbidden to accept any incentive,…

Q: Which of the following is prohibited by the AICPA Code of Professional Conduct?

A: T o help  respond effectively to new ethical challenges they face in serving…

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: Under the AICPA Code of Professional Conduct, which of the following rules is not applicable to CPAs…

A: AICPA (American Institute of Certified Public Accountants) code of professional conduct sets rules,…

Q: In which of the following situations is there a violation of client confidentiality under the AICPA…

A: American Institute of CPA is the body which is issues the AICPA code of professional conduct. 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: 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 rights and duties of the CPA?  What obligation does the CPA have to a user of the…

A: Duties of CPA: Auditing and maintaining the financial records of the company Creating and Analyzing…

Q: CPAs become involved in a variety of types of engagements. For each of the following statements,…

A: Examinations are meant to provide a higher level of assurance in audits to provide a detailed view…

Q: If either party fails to perform their contractual obligations according to the contract terms, it…

A: Auditing refers to the examination of the financial records of a business organization to verify the…

Q: The ethical standards for certified public accountants only require that such accountants comply…

A: The ethical standards for certified public accountants (CPAs) are designed to guide their…

Q: Assume that an auditor makes an agreement with a client that the audit fee will be contingent upon…

A: Audit: It is a systematic examination of books of accounts of an individual or a firm. It is done by…

Q: What types of actions may an auditor be liable to a client under common law? Why would the clients…

A: Auditor liability is becoming more of a concern, not just in terms of audit quality and the…

Q: Statements on Accounting and Review Services are enforceable under the AICPA Code of Professional…

A:

Q: Which statement about the SEC independence rules on bookkeeping services is not accurate? a)…

A: SEC has certain rules and regulations regarding the independence of bookkeeping services provided by…

Q: Generally, the auditor could be legally liable under?

A: Auditing:   Auditing refers to an independent examination of financial information of any…

Q: s a member of an audit team required to disclose to a client that a commission will be received at…

A: Commission refers to a form of compensation which includes the adequate base salary of an employee…

Q: Which of the following acts by a CPA would be most likely to be a violation of the AICPA Code of…

A: The American Institute of Certified Public Accountants (AICPA) is a non-profit professional…

Q: Which of the following is not a general standard that applies to CPA client services? a. Client…

A: Meaning of CPACPA means Certified Public Accountant. The main work pf CPA is to assist various…

Q: According to the Code of Professional Conduct of the AICPA, for which type of service may a CPA…

A: CPA stands for a certified public accountant, A CPA is an expert in the file of accounting,…

Q: Indicate whether the following statements are "True" or "False" regarding AICPA Statements on…

A: AICPA Statements on Standards for Tax Services The Statements are enforceable standards of…

Q: Under which of the following circumstances may member May charge a client a contingent fee? Group…

A: The general rule is that CPAs are not allowed to charge contingent fees for tax services, there is…

Q: Has the accounting profession created a situation in which auditors’ ethical behavior is impaired by…

A: Legal liability of an auditor is to give a proper audit report to his clients by keeping his ethical…