Exam 19: Professional Conduct, Independence, and Quality Control

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The SEC's rules with respect to services provided by auditors are predicated on three basic principles of auditor objectivity and independence. What are the three basic principles?

(Essay)

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Question 21

A violation of the profession's ethical standards would most likely have occurred when a CPA:

(Multiple Choice)

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Question 22

The quality control standards are concerned with:

(Multiple Choice)

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Question 23

Under which of the following circumstances would the independence of a CPA be considered impaired if the CPA, who also is an attorney, serves as auditor and provides legal services to the same private client?

(Multiple Choice)

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Question 24

When can a CPA disclose confidential information without the client's consent?

(Essay)

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Question 25

In determining estimates of fees, an auditor may take into account each of the following, except the:

(Multiple Choice)

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Question 26

In which of the following circumstances would a CPA who audits XM Corporation lack independence?

(Multiple Choice)

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Question 27

In which one of the following situations would a CPA be in violation of the AICPA Code of Professional Conduct in determining a fee?

(Multiple Choice)

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Question 28

When auditing a public company, which of the following impairs an auditor's independence?

(Multiple Choice)

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Question 29

The term "ethics" refers to a person's propensity to follow the laws of the land.

(True/False)

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Question 30

A CPA firm's personnel partner periodically studies the CPA firm's personnel advancement experience to ascertain whether the individuals who were assigned increased degrees of responsibility met predetermined criteria. This is evidence of the CPA firm's adherence to prescribed standards of:

(Multiple Choice)

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Question 31

According to the Code of Professional Conduct, which of the following individuals is not in a position to influence an attest engagement (i.e., not a covered member)?

(Multiple Choice)

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Question 32

With respect to ethics, the justice-based approach:

(Multiple Choice)

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Question 33

An indirect financial interest is defined as a financial interest that is owned or is under the control of an individual or entity.

(True/False)

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Question 34

According to the ethical standards of the profession, which of the following acts is generally prohibited?

(Multiple Choice)

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Question 35

The profession's ethical standards would most likely be considered to have been violated when the CPA represents that specific consulting services will be performed for a stated fee and it is apparent at the time of the representation that the:

(Multiple Choice)

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Question 36

With respect to ethics, the rights-based approach:

(Multiple Choice)

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Question 37

According to the ethical standards of the profession, which of the following acts is generally prohibited?

(Multiple Choice)

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Question 38

Which of the following bodies ordinarily would have the authority to suspend or revoke a CPA's license to practice public accounting?

(Multiple Choice)

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Question 39

With respect to ethics, the utilitarian theory:

(Multiple Choice)

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Question 40

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Exam 19: Professional Conduct, Independence, and Quality Control

The SEC's rules with respect to services provided by auditors are predicated on three basic principles of auditor objectivity and independence. What are the three basic principles?

A violation of the profession's ethical standards would most likely have occurred when a CPA:

The quality control standards are concerned with:

Under which of the following circumstances would the independence of a CPA be considered impaired if the CPA, who also is an attorney, serves as auditor and provides legal services to the same private client?

When can a CPA disclose confidential information without the client's consent?

In determining estimates of fees, an auditor may take into account each of the following, except the:

In which of the following circumstances would a CPA who audits XM Corporation lack independence?

In which one of the following situations would a CPA be in violation of the AICPA Code of Professional Conduct in determining a fee?

When auditing a public company, which of the following impairs an auditor's independence?

The term "ethics" refers to a person's propensity to follow the laws of the land.

A CPA firm's personnel partner periodically studies the CPA firm's personnel advancement experience to ascertain whether the individuals who were assigned increased degrees of responsibility met predetermined criteria. This is evidence of the CPA firm's adherence to prescribed standards of:

According to the Code of Professional Conduct, which of the following individuals is not in a position to influence an attest engagement (i.e., not a covered member)?

With respect to ethics, the justice-based approach:

An indirect financial interest is defined as a financial interest that is owned or is under the control of an individual or entity.

According to the ethical standards of the profession, which of the following acts is generally prohibited?

The profession's ethical standards would most likely be considered to have been violated when the CPA represents that specific consulting services will be performed for a stated fee and it is apparent at the time of the representation that the:

With respect to ethics, the rights-based approach:

According to the ethical standards of the profession, which of the following acts is generally prohibited?

Which of the following bodies ordinarily would have the authority to suspend or revoke a CPA's license to practice public accounting?

With respect to ethics, the utilitarian theory:

An Introduction to Assurance and Financial Statement Auditing

The Financial Statement Auditing Environment

Audit Planning, Types of Audit Tests, and Materiality

Risk Assessment

Evidence and Documentation

Internal Control in a Financial Statement Audit

Auditing Internal Control Over Financial Reporting

Audit Sampling: An Overview and Application to Tests of Controls

Audit Sampling: An Application to Substantive Tests of Account Balances

Auditing the Revenue Process

Auditing the Purchasing Process

Auditing the Human Resource Management Process

Auditing the Inventory Management Process

Auditing the Financinginvesting Process: Prepaid Expenses, Intangible Assets, and Property, Plant, and Equipment

Auditing the Financinginvesting Process: Long-Term Liabilities, Stockholders' Equity, and Income Statement Accounts

Auditing the Financinginvesting Process: Cash and Investments

Completing the Audit Engagement

Reports on Audited Financial Statements

Legal Liability

Assurance, Attestation, and Internal Auditing Services

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