AICPA code of conduct UPDATED ACTUAL Questions and CORRECT
Answers
1. Dorothy has been assigned to the audit of tandem Dorothy should consider the
electric concerned about her friend Joanne from threats to her independence
college days and whether safeguards may be
applied that reduce the threats
to an acceptable level
2. The AICPA code of professional conduct includes preface, rules, interpretations
which sections applicable, and rules and inter-
pretations applicable to mem-
bers in busienss
3. sarah is asked to increase inventory accounts ma- sarah failed to evaluate a poten-
terial. she does not understand why he wants but tial ethical issue
does it any way
4. body develops independence rules that apply to US government accountability
engagements performed under GAFAS oflce
5. josie wants marie to increase revenue inconsistent discuss her concerns with josies
with gaap. marie takes the issue to josie. josie dis- boss
agrees and insists that maria record the entries.
amount of revenue is material to the company.
what should maria do firts
6. phrase used to describe integrity candid, within the constraints of
client confidentiality
7. sohpie received a watch from a vendor. in deter- whether the gift was reasonable
mining where accepting the gift would create a in the circumstances
significant threat to her compliance sophie should
consider
8.
, once you identify a potential conflict of interest, are threats to compliance with
which question should you ask yourself the code at an acceptable level
9. which statement is not relevant consideration whether violation of the cose
when evaluation a potential conflict of interest would subject your firm to sub-
in connection with a merger involving your audit stantial penalties
client
10. phrase describes competnece the application of skill and
knowledge with reasonable care
and diligence
11. in which situation may you disclose confidential in response to a validly issues
client information without violation the AICPA code and enforceable subpoena
of professional conduct
12. prepare annual financial statements and tax re- working papers and its partially
turns. Terminated relationship. Which records may completed work product
the company withhold from the client
13. which statement best describes the AICPA ethics the failure to file a personal tax
rules relation toa members failure to file his or her return in a timely manner is usu-
professional tax return in a timely manner ally considered an act to dis-
creditable to the profession
14. which statement best describes the AICPA ethics advertising is permitted as long
rules relating to advertising as it is not false or misleading
15. use the AICPA conceptual framework for indepen- evaluate threats to indepen-
dence to dence not addressed in the
code of professional conduct
16. which statement best describes the period of the it begins when the engagement
professional engagement as it applies to a three letter is signed and continues
2/7
Answers
1. Dorothy has been assigned to the audit of tandem Dorothy should consider the
electric concerned about her friend Joanne from threats to her independence
college days and whether safeguards may be
applied that reduce the threats
to an acceptable level
2. The AICPA code of professional conduct includes preface, rules, interpretations
which sections applicable, and rules and inter-
pretations applicable to mem-
bers in busienss
3. sarah is asked to increase inventory accounts ma- sarah failed to evaluate a poten-
terial. she does not understand why he wants but tial ethical issue
does it any way
4. body develops independence rules that apply to US government accountability
engagements performed under GAFAS oflce
5. josie wants marie to increase revenue inconsistent discuss her concerns with josies
with gaap. marie takes the issue to josie. josie dis- boss
agrees and insists that maria record the entries.
amount of revenue is material to the company.
what should maria do firts
6. phrase used to describe integrity candid, within the constraints of
client confidentiality
7. sohpie received a watch from a vendor. in deter- whether the gift was reasonable
mining where accepting the gift would create a in the circumstances
significant threat to her compliance sophie should
consider
8.
, once you identify a potential conflict of interest, are threats to compliance with
which question should you ask yourself the code at an acceptable level
9. which statement is not relevant consideration whether violation of the cose
when evaluation a potential conflict of interest would subject your firm to sub-
in connection with a merger involving your audit stantial penalties
client
10. phrase describes competnece the application of skill and
knowledge with reasonable care
and diligence
11. in which situation may you disclose confidential in response to a validly issues
client information without violation the AICPA code and enforceable subpoena
of professional conduct
12. prepare annual financial statements and tax re- working papers and its partially
turns. Terminated relationship. Which records may completed work product
the company withhold from the client
13. which statement best describes the AICPA ethics the failure to file a personal tax
rules relation toa members failure to file his or her return in a timely manner is usu-
professional tax return in a timely manner ally considered an act to dis-
creditable to the profession
14. which statement best describes the AICPA ethics advertising is permitted as long
rules relating to advertising as it is not false or misleading
15. use the AICPA conceptual framework for indepen- evaluate threats to indepen-
dence to dence not addressed in the
code of professional conduct
16. which statement best describes the period of the it begins when the engagement
professional engagement as it applies to a three letter is signed and continues
2/7
