Question: Please answer the following multiple questions Peat, Marwick, Mitchell, and Ross are auditors who own their own firm, a professional limited liability company. They have
Please answer the following multiple questions
- Peat, Marwick, Mitchell, and Ross are auditors who own their own firm, a professional limited liability company. They have called the firm Peat, Marwick, Mitchell, & Ross, PLLC. Ross is retiring. Danvers, who is not yet a member of the AICPA, is joining the firm. Which of the following new names for the firm may they properly adopt and use?
A. Peat, Marwick, Mitchell, Ross, & Danvers, Tax Experts
B. Peat, Marwick, Mitchell, Ross, & Danvers, Members of the AICPA
C. Peat, Marwick, Mitchell, Ross, & Danvers, a Professional Corporation
D. Peat, Marwick, Mitchell, Ross, & Danvers
2. Steve is a well-respected CPA in his hometown of Border Crossing, NV, which has a population of slightly more than 10,000. Steve currently audits a nonprofit organization and has recently been approached by this organization to join its board. The board is currently made up of many influential figures in the community, and they would like to add Steve's name to that list for increased recognition. Steve would love to help out the community but is afraid that this might affect his independence. Which of the following situations would cause Steve's involvement with the board to result in a lack of independence?
A. Steve's position is purely honorary.
B. Steve has been asked to contribute only his name.
C. Steve is only required to vote in critical management affairs, which do not arise frequently.
D. Steves position is identified as honorary on external material
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