AICPA Questions with 100% Correct Answers
Audit engagement team members should remain alert for evidence of noncompliance
with which of the following relevant ethical requirements?
A. Maintaining a suspicious attitude, presuming that the client is dishonest until
evidence proves otherwise
B. Performing professional responsibilities with the highest sense of integrity.
C. Performing audit procedures efficiently and within expected time budgets.
D.. Maintaining confidentiality of client information by not including it in the audit
documentation.
Choice "B" is correct. A CPA should perform professional responsibilities with the highest
sense of integrity. Audit engagement team members should remain alert for evidence of
noncompliance with this ethical requirement.
According to the AICPA Code of Professional Conduct, which of the following records
must a CPA return to the client when requested?
A. Client-provided records, even if fees are due to the CPA for the engagement and are
unpaid.
B. Client-provided records requested for a second time because the client misplaced the
first set of records
C. Supporting records prepared by the CPA consisting of adjusting, closing, combining,
or consolidating entries prior to the completion of the engagement.
D.The CPA's working papers consisting of analyses and schedules prepared by the
client at the CPA's request.
Choice "A" is correct. A CPA must return client-provided records when requested by the
client, even if unpaid fees are due to the CPA for the engagement.
, Which of the following is a requirement for accepting an attestation engagement to
report on the controls at a service organization?
A. The description of the controls is completed prior to the signing of the engagement
letter.
B. The service auditor has the competence and capability to perform the engagement.
C. The suitability of the evaluation criteria is reviewed by a third party.
D. Management agrees that the service auditor will be responsible for documenting the
controls.
Choice "B" is correct. A requirement for accepting an attestation engagement to report on the
controls at a service organization is that the service auditor has the competence and capability
to perform the engagement.
An accountant agreed to perform a compilation of a company's financial statements
under Statements of Standards for Accounting and Review Services (SSARS). During
fieldwork, the accountant decided to perform some analytical procedures. Which of the
following would the accountant do related to the compilation engagement?
A. Issue a review report because review procedures were performed.
B. Issue an audit report because audit procedures were performed.
C. Withdraw from the engagement because review procedures were performed on a
compilation engagement.
D. Issue a compilation report even though review procedures were performed on the
engagement.
Choice "D" is correct. An accountant should issue a compilation report even though review
procedures were performed on the engagement because the accountant was engaged to
Audit engagement team members should remain alert for evidence of noncompliance
with which of the following relevant ethical requirements?
A. Maintaining a suspicious attitude, presuming that the client is dishonest until
evidence proves otherwise
B. Performing professional responsibilities with the highest sense of integrity.
C. Performing audit procedures efficiently and within expected time budgets.
D.. Maintaining confidentiality of client information by not including it in the audit
documentation.
Choice "B" is correct. A CPA should perform professional responsibilities with the highest
sense of integrity. Audit engagement team members should remain alert for evidence of
noncompliance with this ethical requirement.
According to the AICPA Code of Professional Conduct, which of the following records
must a CPA return to the client when requested?
A. Client-provided records, even if fees are due to the CPA for the engagement and are
unpaid.
B. Client-provided records requested for a second time because the client misplaced the
first set of records
C. Supporting records prepared by the CPA consisting of adjusting, closing, combining,
or consolidating entries prior to the completion of the engagement.
D.The CPA's working papers consisting of analyses and schedules prepared by the
client at the CPA's request.
Choice "A" is correct. A CPA must return client-provided records when requested by the
client, even if unpaid fees are due to the CPA for the engagement.
, Which of the following is a requirement for accepting an attestation engagement to
report on the controls at a service organization?
A. The description of the controls is completed prior to the signing of the engagement
letter.
B. The service auditor has the competence and capability to perform the engagement.
C. The suitability of the evaluation criteria is reviewed by a third party.
D. Management agrees that the service auditor will be responsible for documenting the
controls.
Choice "B" is correct. A requirement for accepting an attestation engagement to report on the
controls at a service organization is that the service auditor has the competence and capability
to perform the engagement.
An accountant agreed to perform a compilation of a company's financial statements
under Statements of Standards for Accounting and Review Services (SSARS). During
fieldwork, the accountant decided to perform some analytical procedures. Which of the
following would the accountant do related to the compilation engagement?
A. Issue a review report because review procedures were performed.
B. Issue an audit report because audit procedures were performed.
C. Withdraw from the engagement because review procedures were performed on a
compilation engagement.
D. Issue a compilation report even though review procedures were performed on the
engagement.
Choice "D" is correct. An accountant should issue a compilation report even though review
procedures were performed on the engagement because the accountant was engaged to
