The AICPA’s Code of Professional Conduct requires that members prepare financial statements in accordance with generally accepted accounting principles.
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True (t) or False (f)
______ The AICPA’s Code of Professional Conduct requires that members prepare financial statements in accordance with generally accepted accounting principles.
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- Statements on Accounting and Review Services are enforceable under the AICPA Code of Professional Conduct. True or False?According to the Code of Professional Conduct of the AICPA, for which type of service may a CPA receive a contingent fee? O Performing an audit of a financial statement. O Performing a review of a financial statement. O Performing an examination of a prospective financial statement. O Seeking a private letter ruling.What professional conduct is outlined by the American Institute of Certified Public Accountants (AICPA) Professional Code of Conduct?
- A65. The “due process” system in developing financial reporting standards A. is an efficient system for collecting dues from members.B. identifies the accounting issues that are the most important.C. enables interested parties to express their views on issues under consideration.D. requires that all accountants must receive a copy of financial accounting standards.The FASB issues accounting standards in the form of: Financial Accounting Standards. Financial Technical Bulletins. Accounting Standards Updates. Accounting Research Bulletins.What are the prohibitions in the Code of Ethics for Professional Accountants
- Explain the steps that should be taken by an internal accountant/CMA when there is a difference of opinion with one's supervisor on an accounting or financial reporting manner.Directions: Please select the appropriate answer on the statement below;T - If the statement is trueF - When the statement is false or part of the statement is false A public accounting firm is believed to have fulfilled its responsibility to provide services in accordance with professional standards because it joins a professional society that encourages the implementation of a code of ethics.Which of the following are important factors in ensuringthe integrity of accounting information?a. Institutional factors, such as standards for preparinginformation. b. Professional organizations, such as the American Insti-tute of CPAs. c. Competence, judgment, and ethical behavior of individ-ual accountants.
- What is meant by the professional designations CPA, CMA,and CIA, and how do these designations add to the integrityof accounting information?An accounting association established a code of ethics for all members. The most likely primary purpose for establishing the code of ethics was to: a Outline criteria for professional behavior to maintain standards of competence, morality, honesty, and dignity within the association. b Establish standards to follow for effective accounting practice. c Provide a framework within which accounting policies could be effectively developed and executed. d Outline criteria that can be utilized in conducting interviews of potential new accountants.What requirements are usually necessary to become licensed as a certified public accountant?a. Successful completion of the Uniform CPA Examination.b. Experience in the accounting field.c. Education.d. All of the above