Which of the following “bodies designated by Council” have been authorized to promulgategeneral standards enforceable under the General Standards Rule of the AICPA Code of Professional Conduct?a. AICPA Division of Professional Ethics.b. Financial Accounting Standards Board.c. Government Accounting Standards Board.d. Accounting and Review Services Committee.

Q: 6) Which pronouncements have the highest level of authority for state and local governments? A)…

A: GASB statements means Governmental Accounting Standards Board Statements. These statements are…

Q: Which International body issued the Code of Ethics for Professional Accountants? a. IESBA b. IFRS c.…

A: IESBA: The IESBA's goal is to offer the public interest by establishing ethics standards, such as…

Q: Which type of auditor audits the financial information prepared by various federal government…

A: Note: As per the policy, we are supposed to solve one question at a time. Kindly repost the…

Q: Governmental auditing can extend beyond audits of financial statements to include audits ofan…

A:

Q: Who appoints the internal auditor? a. Management b. Government c. External stakeholders d. Members

A: Internal auditor performs internal audit functions.

Q: Which of the following stakeholders rely on internal audit report? a. General public b. Investors c.…

A: Audit is the examination or review of books of account in order to ensure that whether these…

Q: The use of the Certified Public Accountant title is regulated by Select one a the Securities and…

A: Corporate finance is referred as the decision of the firm to take capital investments and other…

Q: Which of the following is true regarding the organization of the comprehensive annual financial…

A: The GASB is the board that provides the guideline to the governmental units about proper accounting…

Q: Board of Director

A: Correct Answer :- D Board  of Director.

Q: Identify the need for and state TWO of the major issues the Internal Audit Charter must cover in a…

A: The Internal Audit Charter is a Formal doc that states the purpose, responsibility, authority and…

Q: Explain why special purpose frameworks (also known as other comprehensive bases of accounting) may…

A: Special purpose framework is a non-GAAP framework which is used for financial purposes and includes…

Q: The authority to appoint first independent auditor is vested to __________ a. The shareholders b.…

A: The first auditor of a company shall be appointed by board of directors with 30 days from the date…

Q: briefly describe the responsibilities of the Board of Director

A: Governance committee is for looking governance in company. Board of directors who guide and govern…

Q: General-purpose fi nancial statements are prepared primarily for:a. internal users.b. external…

A:

Q: Who must register with the Public Company Accounting Oversight Board?

A: Public Company Accounting Oversight Board refers to the non-profit organization which regulates…

Q: Under Section 5 of RA 9298, who shall appoint the members of the Professional Regulatory Board of…

A: Republic act NO 9298 was enacted with a view to regulate the accounting practice in the Philippines.

Q: we discussed the role of an active board of 'directors' audit committee from different aspects. In…

A: The primary function of the audit committee of the company is to provide oversight of the financial…

Q: Which of the following is the federal, independent agency that provides oversight of public…

A:

Q: " Accounting is shaped by , reflects , and reinforces particular characteristics unique to its…

A: The accounting system is considered to be the backbone of the nation's development as it will…

Q: Various organizations develop standards for audits and regulate CPA firms. Compare and contrast the…

A: (a)Compare and contrast the roles of AICPA, PCAOB and the boards of Accountancy dimensions of…

Q: Who makes recommendations in relation to appointment, reappointment and removal of external auditor?…

A: Introduction: Auditing: Auditing means inspection of processes and Accounting books to eliminate the…

Q: Which of the following parties is responsible for the fairness of the representations made in…

A: Financial statements include the Income Statement, Balance Sheet, Statement of Cash flows, and…

Q: Identify the different entities that makeethics rules for CPAs and public accountingfirms.

A: Ethics:     “That branch of philosophy which is the systematic study of reflective choice, of the…

Q: Which of the following groups is responsible for developing auditing standards for public firms in…

A: American Institution of Certified Public Accountant (AICPA) is a professional body in the US that…

Q: Explain the relationship between the SEC and the various private sector standard-setting bodies that…

A: SEC has the power to prescribe the accounting practices and principles to be employed by the…

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A: In the public monetary administration cycle, bookkeeping follows planning and and surveying an…

Q: While listing the functional Committees of the Board and explaining their significance, explain the…

A:

Q: The Government Accountability Office (GAO) describes expanded-scope governmentalauditing to include…

A:

Q: Which of the following statements is true? a.    The IASB has the same number of members as the…

A: International Accounting Standards Board (IASB): IASB is the board which frames, develops, approves,…

Q: Discuss the common goal that IASB, FASB and other regional accounting bodies intend to achieve by…

A: A conceptual frame work is defined as the systematic formation of ideas and objectives leading to…

Q: The scope of external audit is decided by the: a. Shareholders b. Government c. Management d. Audit…

A: Audit means checking and authenticating the financial statements of the company whether they are…

Q: What rule/procedure must be observed so that formal meetings like that of the Board of Directors or…

A: Here given the details of the rules and procedures which are involved to arrange the meeting…

Q: GAAP stands for: a.    governmental auditing and accounting practices. b.    generally accepted…

A: Financial accounting: Financial accounting is the process of recording, summarizing, and reporting…

Q: Choose the correct. Which of the following statements is correct with respect to the IFRS accounting…

A: International Accounting Standards Board (IASB): IASB is the board which frames, develops, approves,…

Q: Which of the following groups sets standards for audits of federal financial assistance recipients?…

A: As per GASB, the accounting for funds of a governmental unit is different from that of private…

Q: The responsibility for adopting sound accounting policies, maintaining internal control, fair…

A: The primary responsibility of adopting sound accounting policies, their effective implementation,…

Q: Who can conduct FCA for a local government? Group of answer choices Internal management team Outside…

A: FCA is  financial conduct analysis

Q: The Sarbanes-Oxley Act provides for requirements with respect to which committee(s) of a company's…

A: The Sarbanes-Oxley Act (or SOX Act) refers to a form of federal law incorporated by United states…

Q: With respect to the Single Audit Act of 1984 and amendment of 1996 relating to state and local…

A:

Q: What should you tell your friend about the presence of accounting standards in theUnited States? Who…

A: Worldwide monetary scene huge change. These advancements have been inferable, to some degree, to…