On March 6, Year 2, a CPA completed fieldwork on an audit for the year ended December 31, Year 1. An event came to the CPA's attention on April 20, Year 2, that occurred on April 10, Year 2. The event should have been disclosed in the notes to the financial statements. The report was released on April 24, Year 2. If the appropriate adjustment is made, the report should be dated

Question 29 options:

December 31, Year 2

April 20, Year 2

December 31, Year 1

March 6, Year 2

April 10, Year 2

April 24, Year 2

Under the ethical standards of the profession, which of the following investments by a CPA in a corporate client is an indirect financial interest?

Question 30 options:

An immaterial investment in stock.

An investment held by a partnership in which the CPA is a general partner.

An immaterial and material investment in stock.

An investment held by an LLC of which the CPA is a managing member.

An investment held through a defined benefit plan for which the CPA is not a trustee.

Each of the following statements regarding fraud is correct, except:

Question 36 options:

	Fraud results from either intentional or unintentional acts.
	Professional skepticism is applied by auditors to recognize fraud risks.
	Rationaization provides an opportunity for fraud.
	Weak internal controls provide an opportunity for fraud.
	Materiality is not a factor in deciding whether the auditor will communicate about a fraud.