AICPA Ethics Rules & CPA Exam Question
And Answers
A.Employees
B. bCustomers
C. bSuppliers
D. bBorrowers
E. bAll babove bcould bbe bstakeholders b- bAnswer b- bE
According bto bthe bAICPA bCode bof bProfessional bConduct, bRule b101-Independence, ban baudit brequires bthat
ban bindividual bperform bhis bor bher bservices bwith bintegrity band bobjectivity. bThere bmust bbe breasonable
bassurance bthat bthis bis bbeing bdone bduring bthe bPage b4 bof b5 bengagement. bWhat bmust ban baccountant bdo
bto bbe bin bcompliance bwith bthe bgenerally baccepted bauditing bstandards?
a. bBe bindependent bin bfact.
b. bBe bindependent bin bappearance.
c. bBoth.
d. bNeither b- bAnswer b- bC
To bwhom bdoes bthe bAICPA bCode bof bProfessional bConduct bapply:
a. bMembers bin bPublic bpractice
b. bMembers bin bIndustry
c. bMembers bin bGovernment
d. bMembers bin bEducation
e. bAll bof bthe babove b- bAnswer b- bE
T/F: bAccording bto bAICPA bCode bof bProfessional bConduct, ba bCPA bmay breceive ba bcontingent bfee bfor
bperforming ban baudit bof ba bfinancial bstatement? b- bAnswer b- bFalse
AICPA bmembers bshould bact bin ba bway bthat bwill:
a. bServe bthe bpublic binterest
b. bHonor bthe bpublic btrust
, c. bDemonstrate bcommitment bto bprofessionalism
d. bAll bof bthe babove
e. bNone bof bthe babove. b- bAnswer b- bD
Regarding bthe bfees bof bregistered bindependent baccounting bfirms bon ba baudit bengagement bthe bfollowing
bis btrue:
A. bThe bfirm bmay bcharge ba bclient ba bcommission bbased bon brecovery breceived bdue bto bfinding ban bissue bon
bthe bfinancials.
B. bThe bfirm bmay bcharge ba bflat bfee bfor ball bwork.
C. bThe bfirm bmay bcharge ba bfee bbased bon bthe bnumber bof berrors bit bfind bin bthe bclients bfinancials.
D. bThe bfirm bcan breceive bcommissions bfrom bthird bparties bfor bwork bperformed bon ba bclient. b- bAnswer b- bB
What bis ba bpositive bway bto bmaintain ba bquality brelationship bwith ba bclient?
a. bHave bwritten bfee bagreements, bwith bclearly bdefined bterms b(i.e. bbilling) band, bif bneeded, bprovide bcost
bestimates.
b. bComplete bwork bat bagreed bupon bdeadlines.
c. bUse bappropriate bphone bprotocol bto bmaintain bconfidentiality bwith bclients.
d. bMonitor bquality bof ball bwork, bincluding bdrafts bas bwell bas bclient bstatus breports.
e. bAll bof bthe babove. b- bAnswer b- bE
Which bof bthe bfollowing borganizations blicenses bCPAs:
a. bAICPA.
b. bTexas bSociety bof bCPAs.
c. bTexas bState bBoard bof bPublic bAccountancy.
d. bAll bof bthe babove.
e. bNone bof bthe babove. b- bAnswer b- bC
A bmember bof bthe bAICPA bmust:
a. bUndertake bonly bthose bprofessional bservices bthat bthe bmember bor bmember's bfirm bcan breasonably
bexpect bto bbe bcompleted bwith bprofessional bcompetence.
b. bExercise bdue bprofessional bcare bin bthe bperformance bof bprofessional bservices.
And Answers
A.Employees
B. bCustomers
C. bSuppliers
D. bBorrowers
E. bAll babove bcould bbe bstakeholders b- bAnswer b- bE
According bto bthe bAICPA bCode bof bProfessional bConduct, bRule b101-Independence, ban baudit brequires bthat
ban bindividual bperform bhis bor bher bservices bwith bintegrity band bobjectivity. bThere bmust bbe breasonable
bassurance bthat bthis bis bbeing bdone bduring bthe bPage b4 bof b5 bengagement. bWhat bmust ban baccountant bdo
bto bbe bin bcompliance bwith bthe bgenerally baccepted bauditing bstandards?
a. bBe bindependent bin bfact.
b. bBe bindependent bin bappearance.
c. bBoth.
d. bNeither b- bAnswer b- bC
To bwhom bdoes bthe bAICPA bCode bof bProfessional bConduct bapply:
a. bMembers bin bPublic bpractice
b. bMembers bin bIndustry
c. bMembers bin bGovernment
d. bMembers bin bEducation
e. bAll bof bthe babove b- bAnswer b- bE
T/F: bAccording bto bAICPA bCode bof bProfessional bConduct, ba bCPA bmay breceive ba bcontingent bfee bfor
bperforming ban baudit bof ba bfinancial bstatement? b- bAnswer b- bFalse
AICPA bmembers bshould bact bin ba bway bthat bwill:
a. bServe bthe bpublic binterest
b. bHonor bthe bpublic btrust
, c. bDemonstrate bcommitment bto bprofessionalism
d. bAll bof bthe babove
e. bNone bof bthe babove. b- bAnswer b- bD
Regarding bthe bfees bof bregistered bindependent baccounting bfirms bon ba baudit bengagement bthe bfollowing
bis btrue:
A. bThe bfirm bmay bcharge ba bclient ba bcommission bbased bon brecovery breceived bdue bto bfinding ban bissue bon
bthe bfinancials.
B. bThe bfirm bmay bcharge ba bflat bfee bfor ball bwork.
C. bThe bfirm bmay bcharge ba bfee bbased bon bthe bnumber bof berrors bit bfind bin bthe bclients bfinancials.
D. bThe bfirm bcan breceive bcommissions bfrom bthird bparties bfor bwork bperformed bon ba bclient. b- bAnswer b- bB
What bis ba bpositive bway bto bmaintain ba bquality brelationship bwith ba bclient?
a. bHave bwritten bfee bagreements, bwith bclearly bdefined bterms b(i.e. bbilling) band, bif bneeded, bprovide bcost
bestimates.
b. bComplete bwork bat bagreed bupon bdeadlines.
c. bUse bappropriate bphone bprotocol bto bmaintain bconfidentiality bwith bclients.
d. bMonitor bquality bof ball bwork, bincluding bdrafts bas bwell bas bclient bstatus breports.
e. bAll bof bthe babove. b- bAnswer b- bE
Which bof bthe bfollowing borganizations blicenses bCPAs:
a. bAICPA.
b. bTexas bSociety bof bCPAs.
c. bTexas bState bBoard bof bPublic bAccountancy.
d. bAll bof bthe babove.
e. bNone bof bthe babove. b- bAnswer b- bC
A bmember bof bthe bAICPA bmust:
a. bUndertake bonly bthose bprofessional bservices bthat bthe bmember bor bmember's bfirm bcan breasonably
bexpect bto bbe bcompleted bwith bprofessional bcompetence.
b. bExercise bdue bprofessional bcare bin bthe bperformance bof bprofessional bservices.
