|The AICPA Code of Professional Conduct: |
|[pic] |does not apply to CPAs who function as tax advisors only. | |[pic] |does not apply to CPAs who hold positions below the rank of partner, manager, or senior in a national CPA firm. | |[pic] |does not apply to CPAs whose work is limited to consulting services. | |[pic] |applies to all of the above categories. |
|Current auditing standards do not allow which of the following types of loans from a financial institution | |audit client? |
|[pic] |Credit card loans up to a specified limit. | |[pic] |Loans of surrender value of an insurance policy. | |[pic] |Home mortgage loans. | |[pic] |Borrowings collateralized by cash deposits | |The Code of Professional Conduct requires independence for all: |
|[pic] |services performed except tax engagements. | |[pic] |audit and other accounting engagements. | |[pic] |financial statement audits. | |[pic] |services performed. | |Listed below are selected Rules of Conduct and ethical problems. Select the rule with the problem to which it | |applies. (One Rule of Conduct may apply to more than one ethical problem.) |
| Rules | | | A| Rule 101 | "Independence" | | B| Rule 102 | "Integrity and objectivity" | | C| Rule 201 | "General standards" | | D| Rule 202 | "Compliance with standards" | | E| Rule 203 | "Accounting principles" | | F| Rule 302 | "Contingent fees" | | G| Rule 501 | "Acts discreditable" | | H| Rule 502 | "Advertising and other forms of solicitation" | | I| Rule 503 | "Commissions and referral fees" | | J| Rule 505 | "Form of organization and name" | |[pic] |
| Rules | | | [pic] | An audit client owes the CPA past-due audit fees. | | [pic] | The auditors fail to qualify their opinion on financial statements that do not properly apply FASB | | |standards. | | [pic] | A CPA who is the controller for a company knowingly issues misleading financial statements. | | [pic] | A CPA performs tax services that the CPA is not competent to...
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