AUD CPA Exam 1 Study || errorless solutions 100%.
I only.
II only.
I and II only.
I, II, and III. CORRECT correct answers Which of the following can cause a CPA to receive an
automatic suspension from the AICPA?
I.The CPA's CPA certificate is revoked by the relevant state board of accountancy.
II.The CPA is convicted of a crime punishable by more than one year in jail.
III.The CPA intentionally did not file his personal tax return as required by federal law.
Statements on Auditing Standards.
Statements on Standards for Accounting and Review Services.
Correct! Statements on Responsibilities in Personal Consulting Advisory Practice
Statements on Standards for Valuation Services. correct answers Which of the following is not an
AICPA pronouncement enforceable under the AICPA Code of Professional Conduct?
AICPA peer reviewer.
Peer.
SEC inspector.
Correct! Reasonably informed third party. correct answers The AICPA Code of Professional
Conduct's Internal Control Conceptual Framework suggests that CPAs evaluate whether a
particular threat would lead which type of person to conclude that an unacceptable risk of non‐
independence exists?
, Safeguards created by the profession, legislation, or regulation
.
Correct Answer Safeguards created by peers who performed the audit in the preceding year.
Safeguards implemented by the firm, including policies and procedures to implement
professional and regulatory requirements.
Safeguards implemented by the attest client. correct answers Which of the following is not a
broad category of safeguards that mitigate or eliminate threats to independence?
Yes, provided the CPA is qualified to perform each of the specialist's tasks.
Correct Answer Yes, provided the CPA is able to supervise the specialist and evaluate the
specialist's end product.
No, because non‐CPA professionals are not permitted to be associated with CPA firms in public
practice.
No, because developing computer systems is not recognized as a service performed by public
accountants. correct answers May a CPA hire for the CPA's public accounting firm a non‐CPA
systems analyst who specializes in developing computer systems?
Conflicts of interest need not be disclosed to clients if they have been reduced to an acceptable
level.
It is always sufficient to disclose the existence of the conflict of interest without disclosing its
particulars.
Conflicts of interest never need to be disclosed to third parties who are not clients.
I only.
II only.
I and II only.
I, II, and III. CORRECT correct answers Which of the following can cause a CPA to receive an
automatic suspension from the AICPA?
I.The CPA's CPA certificate is revoked by the relevant state board of accountancy.
II.The CPA is convicted of a crime punishable by more than one year in jail.
III.The CPA intentionally did not file his personal tax return as required by federal law.
Statements on Auditing Standards.
Statements on Standards for Accounting and Review Services.
Correct! Statements on Responsibilities in Personal Consulting Advisory Practice
Statements on Standards for Valuation Services. correct answers Which of the following is not an
AICPA pronouncement enforceable under the AICPA Code of Professional Conduct?
AICPA peer reviewer.
Peer.
SEC inspector.
Correct! Reasonably informed third party. correct answers The AICPA Code of Professional
Conduct's Internal Control Conceptual Framework suggests that CPAs evaluate whether a
particular threat would lead which type of person to conclude that an unacceptable risk of non‐
independence exists?
, Safeguards created by the profession, legislation, or regulation
.
Correct Answer Safeguards created by peers who performed the audit in the preceding year.
Safeguards implemented by the firm, including policies and procedures to implement
professional and regulatory requirements.
Safeguards implemented by the attest client. correct answers Which of the following is not a
broad category of safeguards that mitigate or eliminate threats to independence?
Yes, provided the CPA is qualified to perform each of the specialist's tasks.
Correct Answer Yes, provided the CPA is able to supervise the specialist and evaluate the
specialist's end product.
No, because non‐CPA professionals are not permitted to be associated with CPA firms in public
practice.
No, because developing computer systems is not recognized as a service performed by public
accountants. correct answers May a CPA hire for the CPA's public accounting firm a non‐CPA
systems analyst who specializes in developing computer systems?
Conflicts of interest need not be disclosed to clients if they have been reduced to an acceptable
level.
It is always sufficient to disclose the existence of the conflict of interest without disclosing its
particulars.
Conflicts of interest never need to be disclosed to third parties who are not clients.
