Question
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
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
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