Read the overview below and complete the activities that follow. Companies can retain public accountants to perform three types of attest services related to their financial statements. These three are audits, reviews, and agreed-upon procedures.

CONCEPT REVIEW:

Accountants can provide different levels of assurance on financial statements. The levels vary with the amount of evidence or procedures needed and the amount of assurance provided. The most frequent types are audits, reviews, and agreed upon procedures.

CPAs are required to abide by professional standards as outlined in the AICPA Code of Professional Conduct and related guidance. It is important for CPAs to understand the structure of the professional guidance so that they can find the information needed to determine an appropriate course of action when dilemmas arise.

CONCEPT REVIEW:

The Code of Professional Conduct is structured in two major sections called Principles and Rules. Principles outline the profession's responsibilities to the public, clients, and fellow practitioners. Rules are enforceable applications of the Principles. Additional guidance that further explains the scope and application of the Rules is included in Interpretations and Ethics Rulings.

The suitable criteria in a financial statement audit are set forth in the financial reporting framework selected by management, often provides the highest form of assurance CPAS can offer. 2. A(n) 3. A(n)_____is generally limited to inquiry and analytical procedures. the risk of material misstatement is low. 4. In a(n) 5. A(n) report includes the wording that we are not aware of any material modifications...' 1. Which of the following would be considered a Principle of the Code of Professional Conduct? 2. Which of the following would be considered a Principle of the Code of Professional Conduct? 3. Which of the following would not be considered a Principle of the Code of Professional Conduct? 4. Which of the following would not be considered a Principle of the Code of Professional Conduct? 5. Which of the following would be considered a Rule of the Code of Professional Conduct? 6. Which of the following would not be considered a Rule of the Code of Professional Conduct? 7. Which of the following would not be considered a Rule of the Code of Professional Conduct? 8. Which of the following appears as both a Principle and a Rule? 9. Which of the following appears as both a Principle and a Rule?