Multiple Choice
CPAs may provide bookkeeping services to their private company audit clients, but there are a number of conditions that must be met if the auditor is to maintain independence. Which of the following conditions is not necessary?
A) The CPA must not assume a management role or function.
B) The client must hire an external CPA to approve all of the journal entries prepared by the auditor.
C) The auditor must comply with GAAS when auditing work prepared by his/her firm.
D) The client must accept responsibility for the financial statements.
Correct Answer:
Verified
Correct Answer:
Verified
Q139: Under the AICPA's Code of Professional Conduct,
Q140: The AICPA Code of Conduct includes a
Q141: The CPA firm will lose its independence
Q142: Each of the following situations involves a
Q143: If the board of accountancy in the
Q144: The underlying reason for a code of
Q145: In the AICPA's Code of Professional Conduct,
Q146: It is a violation of the rules
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