Answer each of the following independent questions, based on your understanding of the AICPA Code of Professional

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Answer each of the following independent questions, based on your understanding of the AICPA Code of Professional Conduct or IFAC Code of Ethics for Professional Accountants. Justify your answer.

a. May an auditor refer business to a client in exchange for commissions?

b. May an auditor allow clients to knowingly misstate financial misstatements?

c. May an audit firm charge a contingent fee for an audit client?

d. May an auditor ever disclose confidential client information?

e. What can happen to an auditor who cheats on a filed tax return?

f. Under what conditions does an auditor in a limited liability partnership face unlimited liability?

g. May an audit firm collect a "finder's fee" for referring business to another audit firm?

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Auditing Assurance And Risk

ISBN: 9780324313185

3rd Edition

Authors: W. Robert Knechel, Steve Salterio, Brian Ballou

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