R4 Notes Flashcards
(2 cards)
1
Q
Who is a CPA who gives a fraudulent opinion on the FS liable to?
A
- Fraud: the CPA is liable to anyone who suffered a loss or is injured by the fraud.
- Negligence: reasonably foreeseable users of the FS
2
Q
How long does a TRP have to keep a copy of a taxpayer’s tax return?
A
- Three years (they can keep a listing of the client’s name and TIN)
