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Which of the following statements is true? The AICPA and SEC independence rules both prohibit implementation of a third-party ERP system. The SEC Independence rules
Which of the following statements is true? The AICPA and SEC independence rules both prohibit implementation of a third-party ERP system. The SEC Independence rules permit valuation services if the results of the service are immaterial to the financial statements. The AICPA and SEC independence rules both permit preparation of tax returns for the client entity. The SEC independence rules permit the firm to assist client attorneys with litigation-related matters, as long as we do not provide expert witness services. Which of the following statements about the AICPA general requirements is true? They must be met when providing any non-attest service to an attest client, including tax compliance services. They require the client to have an individual oversee the non-attest services with the ability to perform the services themselves. BDO engagement letters need to be modified to meet the documentation requirements. If the client does not have the necessary skills, knowledge, and experience (SKE) to oversee the non-attest services, we can still provide the service, as long as there is someone in client management who agrees to take responsibility. Which of the following statements is true? AICPA Independence rules permit the Firm to implement a third-party-developed ERP system for an attest client. AICPA independence rules permit the Firm to provide services related to the ongoing monitoring of the performance of an attest client's network and perform any necessary maintenance services. AICPA independence rules permit the Firm to provide valuation services that are material to the financial statements and subjective in nature, provided management is responsible for all assumptions. AICPA independence rules permit the Firm to have access to client funds, as long as it is a segregated account and payments are approved by client management
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