Flashcards in Professional Responsbilities Deck (42)
Is the AICPA Code of Professional Conduct applicable to all members of the AICPA?
What is a distinguishing mark of a profession that accepta a high degree of responsibility toward the public?
Professional Code of Conduct
What article speaks about how members should exercise sensitive professional and moral judgments in all their activities?
Article 1 - Responsibilities
What Article discusses objectivity and independence?
What does objectivity apply to?
All services rendered
What does independence apply to?
What Article discusses due care?
What Rule discusses Independence?
What services does not require independence?
Compilations and Nonattestation services
When an auditor is not independent for a compilation, does the auditor have to disclose it?
Is independence impaired if a covered member has a direct financial interest or a material indirect financial interest in an attestation client?
Independence is not impaired in a financial institution client by?
Fully collateralized car loans with a financial institution client, cash advance or credit card balances not exceeding $10,000, a bank account that is fully insured by the government, and a passbook loan
Is independence impaired if a member makes management decisions for an attest client?
Can a member of the engagement team be a member of an honorary trustee for a nonprofit charitable without impairing independence?
Does fees overdue by 1 year impair independence?
Does actual or threatened litigation impair independence?
What services must a member maintain integrity and objectivity?
Any professional service
What Rule discusses General Standards?
A member must comply with the following standards in all engagements?
Professional Competence, Due professional care, and sufficient relevant data
What Rule discusses Compliance with Standards?
What Rules discuss Accounting Principles?
What Rules discuss Confidential Client Information?
What are the exceptions for when a member can disclose confidential information?
Subpoena or summon, quality review(peer review), and inquiry either made by the ethics division or the trial board
What Rule discusses Contingent Fees?
A contingent fee is established for performing services where?
No fee is charged unless a specific finding or result is obtained or the fee amount is dependent upon the finding or result obtained
What rule discusses Discreditable Acts?
The following acts are discreditable to the profession?
Failure to return records to a client after the client makes demand
What Rule discusses Advertising and Other Forms of Solicitation?
What Rule discusses Commissions and Referral Fees?