WGU D215 Auditing, Pre-Assesment PA – Questions
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Terms in this set (70)
Which type of work performed by a Financial statement review
CPA is an attestation service? 3 multiple choice options
Which entity may obtain audited Governments
financial statements to ensure a
3 multiple choice options
company is complying with industry
regulations?
Which group performs an audit and Independent third-party auditors
review of financial statements to 3 multiple choice options
ensure financial statement users'
needs are met?
Which type of report should be issued Unqualified
if an auditor has determined that a
3 multiple choice options
company has maintained effective
internal controls over financial
reporting for the period under audit?
A new CPA is aware of how Concern for the public interest
accounting affects stakeholders.
3 multiple choice options
Which characteristic of
professionalism is motivating this
awareness?
,Which component of the AICPA Code Principles
of Professional Conduct provides the
3 multiple choice options
tenets of ethical conduct that govern
the professional responsibility of its
members?
A CPA firm provides tax services for a Undue influence
large automotive client. Over the 3 multiple choice options
years, the client has continually
pushed for aggressive tax strategies
that the CPA does not always agree
with.
While performing the current year tax
return, the client threatens to
discontinue the relationship with the
CPA firm if they continue to disagree
with the strategies presented.
Which type of threat to ethical
decision-making is demonstrated by
this practice?
A CPA has prepared a couple's joint Integrity and Objectivity
tax returns for 10 years, but the couple 3 multiple choice options
is now experiencing a complicated
divorce where both parties wish to
claim the same child as a dependent.
The CPA agrees to work with both
clients on their tax returns.
Which standard of the AICPA Code of
Professional Conduct is being violated
by this CPA's action?
, A large client asks a CPA firm for The CPA firm must send the CPAs to a continuing
consulting help with their quarterly professional education course on sales and use tax
sales and use tax reporting. The CPA reporting.
firm specializes in audit and tax
preparation and has not dealt with this
type of work in the past but would like
to add it. The firm decides to accept
the job.
Which step is required to maintain
compliance with the general
standards of the AICPA Code of
Professional Conduct?
A junior accountant is providing tax Due Professional Care
and audit services to a large company
3 multiple choice options
that is pressuring the accountant to
reduce the amount of taxes the
company owes. The junior accountant
decides to use last year's tax laws
instead of the current year's laws since
the older laws will save the company
money.
Which general standard of the AICPA
Code of Professional Conduct is the
junior accountant violating?
A CPA firm has been retained to audit This fee structure is not permitted under ethical
a client's financial statements. The standards applicable to the auditing profession.
client's bank has requested audited 1 multiple choice option
financial statements in order to
approve or deny a loan to the client.
The client has suggested that the CPA
firm will earn a $20,000 bonus if the
bank grants the loan to the client.
Which statement characterizes the
permissibility of this fee structure?
With Trusted Solutions
Save
Terms in this set (70)
Which type of work performed by a Financial statement review
CPA is an attestation service? 3 multiple choice options
Which entity may obtain audited Governments
financial statements to ensure a
3 multiple choice options
company is complying with industry
regulations?
Which group performs an audit and Independent third-party auditors
review of financial statements to 3 multiple choice options
ensure financial statement users'
needs are met?
Which type of report should be issued Unqualified
if an auditor has determined that a
3 multiple choice options
company has maintained effective
internal controls over financial
reporting for the period under audit?
A new CPA is aware of how Concern for the public interest
accounting affects stakeholders.
3 multiple choice options
Which characteristic of
professionalism is motivating this
awareness?
,Which component of the AICPA Code Principles
of Professional Conduct provides the
3 multiple choice options
tenets of ethical conduct that govern
the professional responsibility of its
members?
A CPA firm provides tax services for a Undue influence
large automotive client. Over the 3 multiple choice options
years, the client has continually
pushed for aggressive tax strategies
that the CPA does not always agree
with.
While performing the current year tax
return, the client threatens to
discontinue the relationship with the
CPA firm if they continue to disagree
with the strategies presented.
Which type of threat to ethical
decision-making is demonstrated by
this practice?
A CPA has prepared a couple's joint Integrity and Objectivity
tax returns for 10 years, but the couple 3 multiple choice options
is now experiencing a complicated
divorce where both parties wish to
claim the same child as a dependent.
The CPA agrees to work with both
clients on their tax returns.
Which standard of the AICPA Code of
Professional Conduct is being violated
by this CPA's action?
, A large client asks a CPA firm for The CPA firm must send the CPAs to a continuing
consulting help with their quarterly professional education course on sales and use tax
sales and use tax reporting. The CPA reporting.
firm specializes in audit and tax
preparation and has not dealt with this
type of work in the past but would like
to add it. The firm decides to accept
the job.
Which step is required to maintain
compliance with the general
standards of the AICPA Code of
Professional Conduct?
A junior accountant is providing tax Due Professional Care
and audit services to a large company
3 multiple choice options
that is pressuring the accountant to
reduce the amount of taxes the
company owes. The junior accountant
decides to use last year's tax laws
instead of the current year's laws since
the older laws will save the company
money.
Which general standard of the AICPA
Code of Professional Conduct is the
junior accountant violating?
A CPA firm has been retained to audit This fee structure is not permitted under ethical
a client's financial statements. The standards applicable to the auditing profession.
client's bank has requested audited 1 multiple choice option
financial statements in order to
approve or deny a loan to the client.
The client has suggested that the CPA
firm will earn a $20,000 bonus if the
bank grants the loan to the client.
Which statement characterizes the
permissibility of this fee structure?
