Question

1. Deciding to accept or reject an engagement requires careful consideration of the case's risks and rewards.
a. True
b. False

2. Which of the following is not a primary factor in determining whether an engagement should be accepted or rejected?
a. The engaging attorney's reputation
b. Professional circumstances
c. Compensation
d. Competence and due care
e. Conflicts of interest

3. A “bad” client will exhibit one, and possibly more, of the following attributes except:
a. Slow payment
b. Rush assignments
c. Failing to provide material evidence
d. Pirating an expert's name/ reputation
e. All of the above are attributes of a bad client.

4. A “good” client will exhibit all of the following attributes except:
a. Prompt payment
b. Timely communication
c. Respect for the role of an expert
d. Reluctance to share information
e. All of the above are attributes of a good client.

5. Performing a conflicts of interest check is a must before accepting an engagement.
a. True
b. False

6. If a forensic accountant's objectivity and independence are impaired, there is a high likelihood that a conflict of interest exists.
a. True
b. False

7. Which of the following is an attribute of objectivity?
a. Involved
b. Unbiased
c. Participating
d. Engaged

8. Independence means that objectivity is not impaired.
a. True
b. False

9. If a potential conflict exists, it must be identified, written consents must be secured, and the matter must be fully disclosed after an engagement has been completed.
a. True
b. False

10. Where there is no real conflict of interest, but a perception of a conflict exists, the best practice is to reject the engagement.
a. True
b. False



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  • CreatedMarch 04, 2015
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