CPA Ethics Exam 2024 ( Questions with 100% CORRECT ANSWERS) LATEST 2024(A+ GRADED VERIFIED BY EXPERTS)

Which category contains the ethical standards, a violation of which makes a member liable to disciplinary action? (a) Ethics Rulings. (b) Interpretations of the Rules. (c) Rules. - ANSWER (c) is the conect answer. Code of Professional Conduct, Strncture, says that infraction of any of the rules makes a member liable to disciplinary action. (a) is wrong since members who depart from the guidance in ethical rulings in similar circumstances will be asked to justify such departure. They cannot however be charged with violating a ruling. (b) is also wrong since a member cannot be charged with violating an interpretation. In a disciplina1y hearing where the member was charged with violating a rnle, the member would have the burden of justifying any departure from interpretations ofthat rule. The Trial Board may, after a hearing, do two of the three things listed below. Mark the one that the Trial Board cannot do. (a) Suspend a member. (b) Suspend the member's CPA certificate. ( c) Expel a member. - ANSWER (b) is the correct answer. Code of Professional Conduct, Enforcement, says a Trial Board may admonish, suspend or expel a member. The Trial Board has no jurisdiction over a member's CPA certificate. Which of the following requires that any changes in them be approved by the members of the AICPA? (a) Rules and interpretations of the rules. (b) Principles and rules. (c) Principles, rules and interpretations of the rules. - ANSWER (b) is correct. Code of Professional Conduct, Structure, says that Principles and Rules must be approved by the AI CPA members. (a) is wrong and ... ( c) is wrong since interpretations are prepared and issued by the Professional Ethics Executive Committee without obtaining approval by the members.