sign Professional Ethics Test Fall 2020 - Saved View Table Design Layout Tell me Layout References Mailings Review 7. In which of the following circumstances would a covered member be considered independent when performing the audit of the financial statements of a new client for the year ended December 31, 2013? A The covered member resigned on January 17, 2083 from the board of directors of the client, prior to accepting the new audit engagement. B. The covered member continues to hold an immaterial Indirect financial interest in the client. C. The covered member continues to serve as a trustee for the dient's pension plan and has the authority to make investment decisions D. The covered member's spouse owns an immaterial amount of shares of common stock in the client. 8. A CPA should maintain objectivity and be free of conflicts of interest when performing A. Audits, but not any other professional services B. All attestation services, but not other professional services. C. All attestation and tax services, but not other professional services. D. All professional services 9. A CPA firm may not designate itself as "members of the AICPA" unless: A. All of its partners or shareholders are members of the Institute B. All of its professional staff are members of the Institute C. A majority of its professional staff are members of the Institute D. At least one partner or shareholder is a member of the Institute 10. A CPA's retention of client records as a means of enforcing payment of an overdue audit fee is an action that is: A. Considered acceptable by the AICPA Code of Professional Conduct. B. III advised since it would impair the CPA's independence with respect to the client c. Considered discreditable to the profession D. A violation of generally accepted auditing standards. 11. When an accountant is not independent, the accountant is precluded from issuing a A Compilation report B. Review report C. Management advisory report. D. Tax planning report 12. Which of the following family relationships is most likely to impair a Ca's independence with respect to a particular audit client on which the CPA works as a "covered member"? GA A dose relative has a material investment in that client of which the CPA is not aware B. A cousin has an immaterial investment in the client of which the CPA is aware. C The CPA's sister is controller of the audit client D. The CPA's spouse participates in a savings plan sponsored by the client English (United States Focus MacBook Pro 6 B # 3 $ 4 % 5 & 7 CO 6 8 9