Assume that after completion of all fieldwork on the audit of Andler Company, but prior to issuance of the audit report, the senior on the engagement informed the engagement partner that he just discovered that his wife has an immaterial investment in Andler Company stock. Which of the following is most accurate as to AICPA Code of Professional Conduct requirements?

Assume that after completion of all fieldwork on the audit of Andler Company, but prior to issuance of the audit report, the senior on the engagement informed the engagement partner that he just discovered that his wife has an immaterial investment in Andler Company stock. Which of the following is most accurate as to AICPA Code of Professional Conduct requirements?   Multiple Choice   The CPA firm must resign the engagement.   No action is necessary since he was unaware of his wife’s investment while performing the audit.   The CPA firm should evaluate the significance of the breach on the engagement team’s integrity, objectivity and professional skepticism and ability to issue an audit report and then take proper action.   The senior’s performance on the audit should be reviewed by the engagement partner to determine that the work performance was acceptable.

Assume you are the partner in charge of the 2019 audit of Becker Corporation, a private company. The audit reporthas not yet been prepared. In each independent situation following (1-8), indicate the appropriate action (a-g) tobe taken. The possible actions are as follows:a. Issue an unmodified opinion audit report.b. Qualify both the scope and opinion paragraphs.c. Qualify the opinion paragraph.d. Issue an unmodified opinion with an explanatory paragraph.e. Issue an unmodified opinion with revised wording (no explanatory paragraph).f. Issue an adverse opinion.g. Disclaim an opinion.The situations are as follows:________ 1. Becker Corporation carries its property, plant, and equipment accounts at current market values.Current market values exceed historical cost by a highly material amount, and the effects are pervasive throughoutthe financial statements.________ 2. Management of Becker Corporation refuses to allow you to observe, or make, any counts of inventory.The recorded book…

In the following case, identify all the violations of the rules of conduct of the Code of Professional Ethics, indicate the rule and explain why it was violated. Carmen and Carlos formed a corporation called CPA al servicio. 50% of all issued shares are divided between the two owner shareholders. Carmen in CPA and member of the AICPA Carlos is an appraiser. They announce themselves as members of the AICPA. They were hired to do an audit, the payment of which will be based on the findings of the CPA. Carmen commented with another CPA colleague on important aspects of the case to be audited. During the audit Carmen found deviations from the Generally Accepted Accounting Principles. Carmen gave an opinion in the report of her "unqualified without qualification."102 Integrity and objectivity } 201 General standards } 202 Compliance with standards } 203 Accounting Principles } 301 Confidential customer information } 302 Contingency expenses } 501 Acts of discredit } 502 Promotion or…