1, Regarding the financial statement preparation service, we can say that

Select one:

a. It is a service of limited reliability (limited assurance).

b. It can only be offered through a verbal contract between the accountant and the client.

c. You must comply with the compilation service standards.

d. it is a service in which the accountant is not expected to issue a report.

2, Which of the following actions by a CPA is likely to be considered a violation of the AICPA Code of Professional Conduct?

Select one:

a .An auditor covered by the code (covered member) owns a good number of shares of the

client.

b. Accept a contingent fee in a contributory job authorized by an administrative forum.

c. Form a professional corporation to practice as a CPA.

d. Help one of your clients prepare financial information forecasts.

3, Which of the following qualifies as the best sender and recipient (addressee) of the audit report?

Select one:

a. The shareholders of the corporation whose financial statements were audited.

b. The Corporation's Executive Finance Officer (CFO).

c. The president of the corporation whose financial statements were audited.

d. A third party who has required a copy of the audit report to be sent to them.

4, Under the quality control system established by a CPA firm, the standard that requires said firm to keep a record of any of its auditors who has previously been employed by one of the clients, is known as

Select one:

a. Monitoring

b. Ethical provisions

c. Professional relationships

d. Adequate performance

Answer rating: 100% (QA)

1 d it is a service in which the accountant is not expected to issue a report A compilation report is a report prepared by the accountant tasked with ... View the full answer