When may a covered member disclose confidential information?

Q: What are the requirements for nonattest engagements?

A: Non-attest engagements or services   The non-attest services are the engagements with a client and…

Q: What is insiders?

A: An insider is a member of an organization who has unlimited and privileged access to the information…

Q: Under what law is a registration statement filed?

A: Securities Exchange Commission (SEC): This is the government agency that governs the working of…

Q: What is confidentiality? Give an example showing a violation of confidentiality.

A: Confidentiality is one of code of ethics for Auditor.

Q: why should the client represantion letter be prepared foreach examination?

A: SOLUTION  REPRESENTATION LETTER  IS A LETTER WRITTEN FROM THE ASSOCIATION TO ITS  ACCOUNTANT…

Q: Describe about the full disclosure principle. Also tell the different ways in which information is…

A: Full disclosure principle: According to the principle of full disclosure, all the events occurred in…

Q: countant encounter when trying to decide on “full disclo

A: Accountant role is quite complicated and he has to honest and committed to principal of accounting.

Q: Which of the following is prohibited by the AICPA Code of Professional Conduct?

A: T o help  respond effectively to new ethical challenges they face in serving…

Q: 2 Why do predecessor auditors need to obtain the client’s consent to give information to…

A: Auditing:   It is an independent examination of the financial information of an organization to test…

Q: What are the general steps involved in filing a registration statement with the SEC?

A: Securities Exchange Commission (SEC) is the government agency that governs the working of…

Q: What is the auditor's obligation in light of the prudent person concept?

A: An auditor is a person who reviews the financial statements of a company and gives his opinion. The…

Q: advantages of external private audit?

A: External Private audit: An independent review and investigation of financial statements which are…

Q: Which standards apply to consulting engagements?

A: Certified Public Accountant (CPA): It is a position which is provided to the person who passes the…

Q: Can you tell me the difference between confidentiality and privacy? Explain

A: This question tells about the difference between confidentiality and privacy:

Q: What is privacy in the context of information security? Is perception of privacy the same for all…

A: In the context of information security, what exactly is privacy? Is there a difference in the sense…

Q: Which organizations are normally exempted from the SEC’s registration requirements?

A: According to the Securities Act 1933, all securities which are issued by companies and their…

Q: How should recommendations and suggestions by a covered member to a client be handled?

A: Auditing means the inspection of financial accounts of the company to determine if the records are…

Q: What are the characteristics of a Covered Member?

A: Covered member is an individual on the attest engagement team. Covered member is an individual in a…

Q: Is Emily's report in accordance with professional standards? If not, what should she have done under…

A: Unaudited financial statements are those statements which has not been audited by the auditor and…

Q: Does the organization conduct pre-employment backgroundchecks to identify previous dishonest or…

A: Background check : It is the process which helps in finding the employee who has the right integrity…

Q: What is CPA?

A: CPA is certified public accountant.

Q: What forms of protection and regulation do regulators of FI's impose to ensure their safety and…

A: The financial institutions should regulate the economy in an efficient manner. The financial…

Q: What is the importance of date of declaration, date of record, and date of payment?

A: Following are the importance of declaration date, record date and payment date in accordance with…

Q: What are the rights and duties of the CPA?  What obligation does the CPA have to a user of the…

A: Duties of CPA: Auditing and maintaining the financial records of the company Creating and Analyzing…

Q: What does Compensation for employee services includes?

A: Introduction Compensation is the cash paid to employees for their service that they provided for the…

Q: What audit procedures can be used to verify officers’ compensation?

A: Audit procedures are those procedures or techniques which are followed through the auditors, in…

Q: In addition to EPS numbers themselves, what additional disclosures should be provided concerning the…

A: Earning per share (EPS) refers to the measure of earnings that are available to each share in a…

Q: What is a whistleblower?

A: A whistleblower anybody who has insider info of the criminal behavior taking place in an…

Q: What major types of items are reported in the retainedearnings statement?

A:

Q: What is the typical content of attorney letters?

A: Attorney letter is a formal business letter prepared by the client as per auditors' request, and…

Q: A person's personnel file should include what kinds of documents

A: Answer: Person Personnel file is the record that is maintained by employer for the employee that…

Q: What is the significance of an engagement lette

A: Auditing:   Auditing refers to an independent examination of financial information of any…

Q: What shall the internal auditor pay attention in reviewing the Executive Compensation Benefits and…

A: Internal Auditor:- An internal auditor is trained professional, who is employed by the firms in…

Q: when should th

A: When should the client representation letter be obtained? -The Clients Representation should be…

Q: Distinguish between the legal concepts of actually foreseen third-party users and reasonably…

A:

Q: Why should you discuss the rights and responsibilities of all parties with a client?

A: A customer who enters into a service contract must furnish the provider with all information he…

Q: What is disclosure? Write down about disclosure notes.

A: Disclosure means disclose the information properly for the users. Disclosure should be complete and…