Question #1 (AICPA.REG) ________________________________________ Under Treasury Circular 230, which of the following actions of a CPA tax advisor is characteristic of a best practice in rendering tax advice? A. Requesting written evidence from a client that the fee proposal for tax advice has been approved by the board of directors. B. Recommending to the client that the advisor's tax advice be made orally instead of in a written memorandum. C. Establishing relevant facts, evaluating...

CPA-06619) A company is required to file quarterly financial statements with the United States Securities and Exchange Commission on Form 10-Q. The company operates in an industry that is not subject to seasonal fluctuations that could have a significant impact on its financial condition. In addition to the most recent quarter end, ………. to present balance sheets on Form 10-Q? Question: (TCO A) (CPA-00125) Taft Corp. discloses supplemental industry segment information. The following informa...

THE CONTENTS COVERED INCLUDE THE FOLLOWING CONTENTS I. THE AUDITING PROFESSION 1 The Demand for Audit and Other Assurance Services . 1-1 2 The CPA Profession. 2-1 3 Audit Reports. 3-1 4 Profes sional Ethics 4-1 5 Legal Liability. 5-1 II. THE AUDIT PROCESS 6 Audit Responsibilities and Objectives. 6-1 7 Audit Evidence . 7-1 8 Audit Planning and Analytical Procedures 8-1 9 Materiality and Risk . 9-1 10 Section 404 Audits of Internal Control and Control Risk 10-1 11 Fraud Auditing . 11-1 12 The Impa...

he Foreign Corrupt Practices Act (FCPA) of 1977: In the auditing environment, failure to meet auditing standards is often: In the performance of an audit, a CPA: The principal issue to be resolved in cases involving alleged negligence is usually: Under the laws of agency, partners of a CPA firm may be liable for the work of others on whom they rely. This would not include: "Absence of reasonable care that can be expected of a person in a set of circumstances" defines: A broad interpretation of t...

Tax preparer Margie is wondering: Why should CPAs make reasonable efforts to obtain and provide for the client appropriate answers to all questions on a tax return? 2. A client suing a CPA for negligence must prove each of the following factors except 3. Which of the following is true? 4. CPA Amanda has been Kathy's tax accountant for a few years. Under which of the following situations has Amanda violated the SSTSs? 5. The intent, or scienter, element necessary to establish a ca...

n audit to determine whether an entity is following specific procedures or rules set down by some higher authority is classified as a(n): The Sarbanes-Oxley Act applies to which of the following companies? Three common types of attestation services are: ________ risk reflects the possibility that the information upon which the business decision was made was inaccurate. In "auditing" financial accounting data, the primary concern is with: The use of the Certified Public Accountant title is regula...

1. (TCO B) An auditor was unable to obtain sufficient appropriate audit evidence concerning certain transactions due to an inadequacy in the entity’s accounting records. The auditor would choose between issuing a(an): (Points : 5) Question2. (TCO K) An auditor should consider which of the following when evaluating the ability of a company to continue as a going concern? (Points : 5) Question3. (TCO A) An auditor’s independence is considered impaired if the auditor has: (Points : 5) ...

(TCO B) An auditor was unable to obtain sufficient appropriate audit evidence concerning certain transactions due to an inadequacy in the entity’s accounting records. The auditor would choose between issuing a(an): (TCO K) An auditor should consider which of the following when evaluating the ability of a company to continue as a going concern? (TCO A) An auditor’s independence is considered impaired if the auditor has: (TCO H) Which of the following should be included as a written representa...

ACCT 553 Final Exam (TCO E) Zelda Zayer has been a widow for over 3 years and files a return as a single taxpayer. Items of income received by Zelda in 2011 were as follows. Interest on savings account with Bank of America: $50 Interest on state income tax refund: $25 Gambling winnings: $2,400 Dividends from mutual life insurance company on life insurance policy: $500 Dividends from Better Auto Co. received on January 2, 2011: $875 The total dividends received on the life insurance policy do n...

ACCT 540 Week 6 Homework Assignment; AICPA Code of Professional Conduct Section 1.700.001 – The Confidential Client Information Rule Section 1.510.001 – The Contingent Fees Rule References