with the AICPA (adap Independence) The attribute of Required a What is meant by "independence" as applied to the CPA's function of auditing and b. CPAs have imposed on themselves certain rules of professional conduct that induce has been traditionally s function of auditing and expressing opinions on financial statements expressing opinions on financial statements? Discuss. their members to remain independent and to strengthen public confidence in their inde pendence. Which of the Rules of Conduct are concemed with the CPA's independence Discuss The Wallydrug Company is indebted to a CPA for unpaid fees and has offered to issue o the CPA unsecured interest-bearing notes. Would acceptance of these notes have any bearing on the CPA's independence with respect to Wallydrug Company? Discuss d. The Rocky Hill Corporation was formed on October 1,20X0, and its fiscal year will end on September 30, 20X1. You audited the corporation's opening balance sheet and ren dered an unqualified opinion on it. A month after rendering your report, you are offiened the position of secretary of the company because of the need for a complete set of ofh cers and for convenience in signing various documents. You will have no financial inter- est in the company through stock ownership or otherwise, will receive no salary, will keep the books, and will not have any influence on its financial matters other than sional advice on income tax matters and similar advice normally given a dlient by CPA Assume that you accept the offer but plan to resign the position prior to conducting your annual audit with the intention of again assuming the office after rendering an opinion on the statements. Can you render an independent opinion on the financ statements? Discuss. 2 Assume that you accept the offer on a temporary basis until the corporation has goe ten under way and can employ a secretary. In any event, you would resign the position before conducting your annual audit. pendent opinion on the financial Can you render an AICPA with the AICPA (adap Independence) The attribute of Required a What is meant by "independence" as applied to the CPA's function of auditing and b. CPAs have imposed on themselves certain rules of professional conduct that induce has been traditionally s function of auditing and expressing opinions on financial statements expressing opinions on financial statements? Discuss. their members to remain independent and to strengthen public confidence in their inde pendence. Which of the Rules of Conduct are concemed with the CPA's independence Discuss The Wallydrug Company is indebted to a CPA for unpaid fees and has offered to issue o the CPA unsecured interest-bearing notes. Would acceptance of these notes have any bearing on the CPA's independence with respect to Wallydrug Company? Discuss d. The Rocky Hill Corporation was formed on October 1,20X0, and its fiscal year will end on September 30, 20X1. You audited the corporation's opening balance sheet and ren dered an unqualified opinion on it. A month after rendering your report, you are offiened the position of secretary of the company because of the need for a complete set of ofh cers and for convenience in signing various documents. You will have no financial inter- est in the company through stock ownership or otherwise, will receive no salary, will keep the books, and will not have any influence on its financial matters other than sional advice on income tax matters and similar advice normally given a dlient by CPA Assume that you accept the offer but plan to resign the position prior to conducting your annual audit with the intention of again assuming the office after rendering an opinion on the statements. Can you render an independent opinion on the financ statements? Discuss. 2 Assume that you accept the offer on a temporary basis until the corporation has goe ten under way and can employ a secretary. In any event, you would resign the position before conducting your annual audit. pendent opinion on the financial Can you render an AICPA
