4 AICPA members who work in industry and government must always adhere to which of the following AICPA rules of conduct: Rule 101 independence Rule 202 Compliance with Standards Rule 301 Confidential Client information Rule 501 Acts Discreditable Question 5Before accepting an engagement to audit a new client, a CPA is required to: Ask the prospective client's consent to make inquiries of the predecessor auditor, if any. Conduct an assessment of the fraud risk factors likely to cause material misstatements. Gain an understanding of the prospective client's industry and business. Obtain the prospective client's signature to a written engagement letter

Auditing involves an independent examination of financial records of an entity with a view to…

Answered: AICPA members who work in industry and…

11th Edition

ISBN:9781337650380

Author:KNAPP

Publisher:KNAPP

Chapter1: Comprehensive Cases

Section1.4: Health Management, Inc.

Problem 7Q

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Question

4 AICPA members who work in industry and government must always adhere to which of the following AICPA rules of conduct:

		Rule 101 independence
		Rule 202 Compliance with Standards
		Rule 301 Confidential Client information
		Rule 501 Acts Discreditable

Question 5

Before accepting an engagement to audit a new client, a CPA is required to:

		Ask the prospective client's consent to make inquiries of the predecessor auditor, if any.
		Conduct an assessment of the fraud risk factors likely to cause material misstatements.
		Gain an understanding of the prospective client's industry and business.
		Obtain the prospective client's signature to a written engagement letter