Exam 6: Greed, Corruption, and Collusion

A musician believed that his record company was not paying him the agreed-upon royalty on all songs downloaded by fans from a well-known music Internet site. This musician hired a CPA to perform a royalty audit of the record company's sales revenues. The musician and the CPA agreed that that the CPA will be entitled to receive 5% of all amounts recovered by the musician as a result of this royalty audit. They also agreed to keep the results private. This arrangement is:

(Multiple Choice)

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Question 21

What is the policy rationale underlying the United States' rules governing the payment of facilitation payments?

(Short Answer)

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Question 22

When are contingency fees permissible in rendering tax services?

(Short Answer)

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Question 23

Discuss the pros and cons of contingency fees from a client's standpoint.

(Essay)

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Question 24

The key difference between bribery of a public official and bribery of a corporate employee is that:

(Multiple Choice)

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Question 25

A facilitation payment:

(Multiple Choice)

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Question 26

A CPA wishes to accept a commission from one client for marketing the client's software product to other clients served by the CPA. The CPA:

(Multiple Choice)

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Question 27

In California, a CPA may:

(Multiple Choice)

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Question 28

What are the different approaches that jurisdictions apply in regulating or punishing accountants who accept bribes in their capacities as employees of privately-held companies? How do you believe that this offense should be treated?

(Essay)

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Question 29

A company makes a payment to a political campaign committee that supports the reelection of a foreign government official. The company's goal was to ensure that the government official authorizes goods that are not entitled to be exported into that country to indeed be allowed to enter that country. However, the company never had any direct communications with that government official. The company has given:

(Multiple Choice)

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Question 30

An auditor has discovered that its audit client made numerous facilitation payments to foreign officials over the past two years. This client's stock trades on the New York Stock Exchange. The auditor should:

(Multiple Choice)

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Question 31

Under the insider trading rules, a staff accountant who manages the collection and recording of a publicly-traded company's Accounts Receivable is:

(Multiple Choice)

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Question 32

Showing 21 - 32 of 32

What is the policy rationale underlying the United States' rules governing the payment of facilitation payments?

When are contingency fees permissible in rendering tax services?

Discuss the pros and cons of contingency fees from a client's standpoint.

The key difference between bribery of a public official and bribery of a corporate employee is that:

A facilitation payment:

A CPA wishes to accept a commission from one client for marketing the client's software product to other clients served by the CPA. The CPA:

In California, a CPA may:

What are the different approaches that jurisdictions apply in regulating or punishing accountants who accept bribes in their capacities as employees of privately-held companies? How do you believe that this offense should be treated?

An auditor has discovered that its audit client made numerous facilitation payments to foreign officials over the past two years. This client's stock trades on the New York Stock Exchange. The auditor should:

Under the insider trading rules, a staff accountant who manages the collection and recording of a publicly-traded company's Accounts Receivable is:

Introduction to Ethics

Ethical Principles and Reasoning

The Core Philosophies

Virtue, Justice, and Social Responsibility

Why We Cheat

Fraud and Earnings Management

Discreditable Acts: Discrimination, Deceit, and Disclosure

Confidentiality

Independence and Moral Seduction

Conflicts of Interest

Duties As a Whistleblower

Duties of Public-Company Auditors: the Sarbanesoxley Act

Duties of Tax Professionals

Duties of Fiduciaries: Financial Planners, Trustees, and Executors

Duties in the Accounting Workplace Online Only

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