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Question 38 Which of the following fee arrangements is not a violation of the Code of Professional Conduct? B) basing consulting fees on a percentage of a bond issue, even though the accountant performs a review of the client's financial statements to submit to a bank to get a loan. D) basing consulting fees on a percentage of a bond issue, even though the accountant performs an audit of the client's financial statements A) determining fees based on the amount of profit the client will gain from dealing on shares in the financial markets while the accountant is giving advice to the same client on the compilation of accounts for the client's internal use C) basing fees for a tax service on the amount of the refund that the client will receive. Question 39 Don Crosby, a partner in an audit firm, has just learned that his non-dependent son has accepted a position as the CFO of Sunglasses, Inc., a current client within the office with which Don is employed. Which of the following is true? D) All of the above are true. B) Because Don is considered a covered member any office in which he is employed cannot be independent. C) The audit firm will not be considered independent. However, the firm can maintain its independence if they move Don to an office that does not participate on the engagement. A) Don's non-dependent son is considered a close relative. Because he has a key position for the client, Don's independence is impaired. Question 44 One of the Ethical Principles deals with the public interest. It states that members should accept the obligation to act in a way that will: D)Honor the public trust Serve the client's interest No Yes C)Honor the public trust Serve the client's interest Yes No A)Honor the public trust Serve the client's interest Yes Yes B)Honor the public trust Serve the client's interest No No