1. One of the AICPA's Ethical Principles deals with the public interest. It states that members should...
Question:
1. One of the AICPA's Ethical Principles deals with the public interest. It states that members should accept the obligation to act in a way that will: (List out)
(1) Honor the public trust
(2) Serve the client's interst
2. According to the Principles section of the Code of Professional Conduct, all members:
A) should be independent in fact and in appearance at all times.
B) in public practice should be independent in fact and in appearance at all times.
C) in public practice should be independent in fact and in appearance when providing auditing and other attestations services.
D) in public practice should be independent in fact and in appearance when providing auditing, tax, and other attestation services.
3. Which of the following statements best describes the enforceability of the Interpretations of the Rules of Conduct?
A) The Interpretations are not enforceable.
B) The Interpretations are enforceable.
C) The Interpretations may be enforceable if they have been reviewed and approved by the AICPA's Division of Professional Ethics.
D) The Interpretations are not enforceable, but a practitioner must justify departure from them.
4. Of the four parts of the AICPA's Code of Professional Conduct, which part is enforceable?
A) Ethical Rulings
B) Rules of Conduct
C) Principles
D) Interpretations
5. Ethical Rulings are:
I. explanations relating to broad hypothetical circumstances.
II. not enforceable, but one must justify departure.
III. explanations relating to specific factual circumstances.
A) I and II
B) I and III
C) II and III
D) I, II, and III
Managing the Law The Legal Aspects of Doing Business
ISBN: 978-0132164429
4th edition
Authors: Mitchell McInnes, Ian R. Kerr, J. Anthony VanDuzer