Which of the following areas of professional responsibility should be observed by a CPA not in public practice? Tom and windy were employed at poolywhirl. Their job entailed working at great heights in a factory, protected by a safety net. This net had proven inadequate in the past, and when asked to walk on it, they refused for fear of death or great bodily harm, poolywhirl fired them. Tom and windy have no recourse against poolywhirl because they refused a directive of their employer. Must be reinstated and paid double time for the work missed. Were improperly discharged under the occupational safety and health act. Were improperly discharged under the fair labor standards act. An accounting firm was hired by a company to perform an audit. The company needed the audit report in order to obtain a loan from a bank. The bank lent $500,000 to the company based on the auditor's report. Fifteen months later, the company declared bankruptey and was unable to repay the loan. The bank discovered that the accounting firm failed to discover a material overstatement of assets of the company. Which of the following statements is correct regarding a suit by the bank against the accounting firm? The bank can sue the accounting firm for the loss of the kun because of the rule of privilege. Cannot sue the accounting firm because of the statute of limitations. Can sue the accounting firm for the loss of the kun because of negligence. Cannot sue the accounting firm because there was no privity of contract. Which of the following actions by a CPA most likely violate the profession's ethical standards? Compiling the financial statements of a nonpublic client that employed the CPA's spouse as a bookkeeper. Retaining client-provided records after the client has demanded their return. Purchasing a segment of an insurance company's business that performs actuarial services for a nonpublic client's employee benefit plans. Arranging with a financial institution to collect notes issued by a client in payment of fees due. Which of the following areas of professional responsibility should be observed by a CPA not in public practice? Tom and windy were employed at poolywhirl. Their job entailed working at great heights in a factory, protected by a safety net. This net had proven inadequate in the past, and when asked to walk on it, they refused for fear of death or great bodily harm, poolywhirl fired them. Tom and windy have no recourse against poolywhirl because they refused a directive of their employer. Must be reinstated and paid double time for the work missed. Were improperly discharged under the occupational safety and health act. Were improperly discharged under the fair labor standards act. An accounting firm was hired by a company to perform an audit. The company needed the audit report in order to obtain a loan from a bank. The bank lent $500,000 to the company based on the auditor's report. Fifteen months later, the company declared bankruptey and was unable to repay the loan. The bank discovered that the accounting firm failed to discover a material overstatement of assets of the company. Which of the following statements is correct regarding a suit by the bank against the accounting firm? The bank can sue the accounting firm for the loss of the kun because of the rule of privilege. Cannot sue the accounting firm because of the statute of limitations. Can sue the accounting firm for the loss of the kun because of negligence. Cannot sue the accounting firm because there was no privity of contract. Which of the following actions by a CPA most likely violate the profession's ethical standards? Compiling the financial statements of a nonpublic client that employed the CPA's spouse as a bookkeeper. Retaining client-provided records after the client has demanded their return. Purchasing a segment of an insurance company's business that performs actuarial services for a nonpublic client's employee benefit plans. Arranging with a financial institution to collect notes issued by a client in payment of fees due