Question 1

During the investigations by the House Subcommittee on Oversight and Investigations, a question that was raised was:

Accepted Answer

A) Why was fraud allowed to occur at so many companies 
B) Where was the board of directors in all these frauds 
C) Where were the auditors 
D) Why did the internal controls fail in so many frauds 
A) Why was fraud allowed to occur at so many companies 
B) Where was the board of directors in all these frauds 
C) Where were the auditors 
D) Why did the internal controls fail in so many frauds

Question 2

Which of the following is a threat by a client that impairs independence?

Accepted Answer

A) Low Balling 
B) Skepticism 
C) Lawsuit 
D) Withholding information 
A) Low Balling 
B) Skepticism 
C) Lawsuit 
D) Withholding information

Question 3

The ethical issue raised in the Beauda Medical Center case is similar to that in:

Accepted Answer

A) ESM Government Securities 
B) PeopleSoft 
C) Fund of Funds 
D) Enron 
A) ESM Government Securities 
B) PeopleSoft 
C) Fund of Funds 
D) Enron

Question 4

The confidentiality standard in the AICPA code provides for exceptions to the rule in:

Accepted Answer

A) In response to a validly issued court summons 
B) To provide information to the CPA's peer reviewers 
C) To defend oneself in an ethics investigation 
D) All of the above 
A) In response to a validly issued court summons 
B) To provide information to the CPA's peer reviewers 
C) To defend oneself in an ethics investigation 
D) All of the above

Question 5

In the ESM fraud discussed in this chapter, Jose Gomez violated the Independence standard because he:

Accepted Answer

A) Had loans outstanding from the client 
B) Engaged in a business relationship with the client 
C) Had family members who owned stock directly in the client 
D) All of the above 
A) Had loans outstanding from the client 
B) Engaged in a business relationship with the client 
C) Had family members who owned stock directly in the client 
D) All of the above

Question 6

Which is not a permitted form of organization for a CPA practice?

Accepted Answer

A) Sole proprietorship with name of sole proprietor 
B) Limited liability partnership 
C) Professional corporation 
D) Corporation 
A) Sole proprietorship with name of sole proprietor 
B) Limited liability partnership 
C) Professional corporation 
D) Corporation

During the investigations by the House Subcommittee on Oversight and Investigations, a question that was raised was:

Which of the following is a threat by a client that impairs independence?

The ethical issue raised in the Beauda Medical Center case is similar to that in:

The confidentiality standard in the AICPA code provides for exceptions to the rule in:

In the ESM fraud discussed in this chapter, Jose Gomez violated the Independence standard because he:

Which is not a permitted form of organization for a CPA practice?

Ethical Reasoning Implications for Accounting

Accountants Ethical Decision Process and Professional Judgment

Corporate Governance and Ethical Management

Audit Responsibilities and Accounting Fraud

Legal and Regulatory Obligations in an Ethical Framework

Earnings Management and the Quality of Financial Reporting

International Financial Reporting: Ethics and Corporate Governance Considerations

Filters

Exam 4: Aicpa Code of Professional Conduct

During the investigations by the House Subcommittee on Oversight and Investigations, a question that was raised was:

Which of the following is a threat by a client that impairs independence?

The ethical issue raised in the Beauda Medical Center case is similar to that in:

The confidentiality standard in the AICPA code provides for exceptions to the rule in:

In the ESM fraud discussed in this chapter, Jose Gomez violated the Independence standard because he:

Which is not a permitted form of organization for a CPA practice?

Ethical Reasoning Implications for Accounting

Accountants Ethical Decision Process and Professional Judgment

Corporate Governance and Ethical Management

Audit Responsibilities and Accounting Fraud

Legal and Regulatory Obligations in an Ethical Framework

Earnings Management and the Quality of Financial Reporting

International Financial Reporting: Ethics and Corporate Governance Considerations

Filters