Explain the purpose of the principles of the AICPA Code of Professional Conduct.
Answer to relevant QuestionsHow does the principal–agent relationship apply to the audit process?What are tests of account balances? How are they used in the audit process?What role does the PCAOB play in regulating the accounting profession? Explain how the Sarbanes-Oxley Act of 2002 has had a major impact on the accounting profession.A former audit client calls and asks for a recommendation for someone to install a new accounting software package. You provide a referral for the service. Under what conditions can you charge a fee for the referral?
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