Exam 4: Aicpa Code of Professional Conduct

Explain how the Principles of the AICPA Code of Professional Conduct establish standards of behavior for CPAs that are similar to those discussed in chapters 1 and 2.

Which of the following is not part of standards for the quality of work?

To whom do the accounting codes of professional conduct (either the state board of public accountancy or AICPA) apply?

A CPA can accept a contingent fee in providing tax services for an attest client if:

Which is the correct order an accountant should consider each of the following when facing a difficult decision?

In which case was the main accounting issue how to account for contractual allowance?

A unique aspect of the HealthSouth case discussed in the text of this chapter is:

Which of the following services are allowed to be performed for an attest services client by Sarbanes Oxley Act?

Mintz and Morris, both of whom are CPAs, became partners in a tax preparation business in San Marcos, Texas.Which of the following ethics standards must be followed by the two partners?

Advertising is permitted by CPAs as long as it is

Integrity is measured in terms of what is right and just.What is a question that a CPA can ask to test decisions?

The principle of ethical behavior in the AICPA Code that asks questions directly related to ethical behavior is:

The ethics rules that applies solely to those who conduct an audit of a client entity is:

A young man by the name of Mr.Hicks works at an accounting firm which has a written ethics code of conduct.The code specifically outlines the duties and obligations that every employee must follow without question.One of rules states that every accountant should not lie under any circumstances. Last week Mr.Hicks sent out a finalized tax return to the Wrong client.The Wrong client called Mr.Hicks from the card attached to the tax return and informed Mr.Hicks that he was sending the tax return back to him overnight.Meanwhile the Right client called Mr.Hicks and wanted to know where the tax return was.Mr.Hicks told the Right client that he sent it to the wrong address and he will send it out as soon as he received it back from the Wrong client.The Right client was irritated and called the partner of the firm. The partner scolded Mr.Hicks and wanted to know why he told the client he sent the return to the wrong address.The partner said he should have told the client that the return was in the 2^nd partner review or some other excuse to cover up the mistake.Mr.Hicks explained that the ethics code of conduct specifically states that he should not lie under any circumstances and he was just following his ethical duty.The partner grinned and told Mr.Hicks that the next time this happens, he should consult with the partner first. Using the ethical decision making model and ethical theories, justify the positions of either the partner, Mr.Hicks or an alternative solution.

How do the PCAOB rules attempt to strengthen the obligations of a CPA to be independent of clients and perform services objectively?

In its investigation of ZZZZ Best, the House Subcommittee on Oversight and Investigations looked into:

One concern in the Armadillo Foods case in the text of the chapter is:

Impairments of independence can occur when:

Which of the following situations of a CPA's distant relatives does not impair the CPA's independence?

Which of the following ethical standards discussed in the chapter was violated by the external auditors in the ZZZZ Best case?