Question: 1-The profession's ethical standards would most likely be considered to have been violated when a CPA: a. Continued an audit engagement after the commencement of
1-The profession's ethical standards would most likely be considered to have been violated when a CPA: a. Continued an audit engagement after the commencement of litigation against the CPA alleging excessive fee filed in a stockholder's derivative action b- Represented to a potential client that the CPA's fees were substantially lower than the fees charged by another CPA's for comparable services. c. Issued a report on a financial forecast that omitted a caution regarding achievability. d- Accepted a consultation engagement concerning data processing services for which the auditor lacked independence 2. The concept of materiality would be the least important to an auditor when considering the a. Adequacy of disclosure of a client's illegal act b- Discovery of weaknesses in a client's internal control structure C. Effects of direct financial interest in the client on the CPA's independence d- Decision whether to use positive or negative confirmations of receivables 3. A CPA's license to practice will ordinarily be suspended or revoked automatically for Committing an act discreditable to the profession b- Conviction of willful failure to file personal income tax returns C. Refusing to respond to an inquiry by the AICPA practice review committee Arrenting compensation while honoring a subpoena tn annaar scan and
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
