Exam 4: Professional Liability and the Need for Quality Auditor Judgments and Ethical Decisions

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A member of the AICPA must safeguard the confidentiality of client information.Which of the following is not a valid reason to disclose information to non-clients?

(Multiple Choice)

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Question 61

Among immediate family members,whose ownership of client's stock is not considered the same as the covered member's ownership?

(Multiple Choice)

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Question 62

There is a hierarchy of rights to consider when applying rights theory.

(True/False)

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Question 63

Contingent fees are prohibited for tax professionals when preparing tax returns for clients

(True/False)

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Question 64

Which of following is not part of the ethical framework derived from utilitarianism and rights theories?

(Multiple Choice)

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Question 65

What is information about a client that cannot be subpoenaed by a court of law called?

(Multiple Choice)

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Question 66

An auditor who is professionally skeptical will do which of the following?

(Multiple Choice)

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Question 67

Which of the following represents a situation in which an auditor is independent of its client?

(Multiple Choice)

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Question 68

An audit firm is not considered independent when it performs which of the following services for a publicly traded audit client?

(Multiple Choice)

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Question 69

In which of the following situations would a CPA not be considered independent?

(Multiple Choice)

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Question 70

Mark Pulley is an auditor at Pulley and Hurst,LLC.If Pulley's five-year-old daughter owns shares of stock in McBurgers Corporation,then what is Pulley considered to have?

(Multiple Choice)

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Question 71

In which of the following situations would a CPA not be considered independent?

(Multiple Choice)

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Question 72

Among close relatives of the covered member,e.g.,brothers,sisters,mother,father,and cousins,when is ownership of the client's stock by them considered the same as ownership by the covered member?

(Multiple Choice)

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Question 73

Gross negligence is a failure to use even minimal care or evidence of activities that show a recklessness or careless disregard for the truth.

(True/False)

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Question 74

The Rules of Conduct govern the performance of CPAs in carrying out their public responsibilities.

(True/False)

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Question 75

The SEC is concerned with situations between an auditor and a public company that allow the auditor to act as management of the client.

(True/False)

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Question 76

Which of the following is a cause of action against the auditor for breach of contract?

(Multiple Choice)

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Question 77

Rule 201 deals with the General Standards that are applicable to all CPAs no matter the type of services that are rendered does not include which of the following factors?

(Multiple Choice)

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Question 78

Contingent fees are prohibited for any client for which the auditor performs audit services,but are otherwise permitted.

(True/False)

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Question 79

Which of the following employment positions could an auditor's spouse hold in a client without violating the independence requirements?

(Multiple Choice)

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Question 80

Showing 61 - 80 of 87

A member of the AICPA must safeguard the confidentiality of client information.Which of the following is not a valid reason to disclose information to non-clients?

Among immediate family members,whose ownership of client's stock is not considered the same as the covered member's ownership?

There is a hierarchy of rights to consider when applying rights theory.

Contingent fees are prohibited for tax professionals when preparing tax returns for clients

Which of following is not part of the ethical framework derived from utilitarianism and rights theories?

What is information about a client that cannot be subpoenaed by a court of law called?

An auditor who is professionally skeptical will do which of the following?

Which of the following represents a situation in which an auditor is independent of its client?

An audit firm is not considered independent when it performs which of the following services for a publicly traded audit client?

In which of the following situations would a CPA not be considered independent?

Mark Pulley is an auditor at Pulley and Hurst,LLC.If Pulley's five-year-old daughter owns shares of stock in McBurgers Corporation,then what is Pulley considered to have?

In which of the following situations would a CPA not be considered independent?

Among close relatives of the covered member,e.g.,brothers,sisters,mother,father,and cousins,when is ownership of the client's stock by them considered the same as ownership by the covered member?

Gross negligence is a failure to use even minimal care or evidence of activities that show a recklessness or careless disregard for the truth.

The Rules of Conduct govern the performance of CPAs in carrying out their public responsibilities.

The SEC is concerned with situations between an auditor and a public company that allow the auditor to act as management of the client.

Which of the following is a cause of action against the auditor for breach of contract?

Rule 201 deals with the General Standards that are applicable to all CPAs no matter the type of services that are rendered does not include which of the following factors?

Contingent fees are prohibited for any client for which the auditor performs audit services,but are otherwise permitted.

Which of the following employment positions could an auditor's spouse hold in a client without violating the independence requirements?

Auditing: Integral to the Economy

The Risk of Fraud and Mechanisms to Address Fraud: Regulation,corporate Governance,and Audit Quality

Internal Control Over Financial Reporting: Managements Responsibilities and Importance to the External Auditors

Professional Auditing Standards and the Audit Opinion Formulation Process

A Framework for Audit Evidence

Planning the Audit: Identifying and Responding to the Risks of Material Misstatement

Specialized Audit Tools: Sampling and Generalized Audit Software

Auditing the Revenue Cycle

Auditing Cash and Marketable Securities

Auditing Inventory, goods and Services, and Accounts Payable: the Acquisition and Payment Cycle

Auditing Long-Lived Assets: Acquisition, use, impairment, and Disposal

Auditing Debt Obligations and Stockholders Equity Transactions

Activities Required in Completing a Quality Audit

Audit Reports on Financial Statements

Advanced Topics Concerning Complex Auditing Judgments

Other Services Provided by Audit Firms

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