Mylab Accounting With Pearson Etext -- Access Card -- For Auditing And Assurance Services (17th Edition)
17th Edition
ISBN: 9780135176115
Author: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Chris E. Hogan
Publisher: PEARSON
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Question
Chapter 4, Problem 14RQ
To determine
Identify two examples of acts or behavior by CPAs that is considered acts discreditable to the profession.
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What are some civil and criminal consequences if CPAs/auditors fail to follow professional standards?
Determine at least two AICPA professional conduct principles most likely to be violated. Provide your supporting rationale.
Identify two examples of acts or behavior by CPAs that would beconsidered discreditable to the profession under Rule 501.
Chapter 4 Solutions
Mylab Accounting With Pearson Etext -- Access Card -- For Auditing And Assurance Services (17th Edition)
Ch. 4 - Prob. 1RQCh. 4 - Describe an ethical dilemma. How does a person...Ch. 4 - Prob. 3RQCh. 4 - Prob. 4RQCh. 4 - Prob. 5RQCh. 4 - Prob. 6RQCh. 4 - Prob. 7RQCh. 4 - Prob. 8RQCh. 4 - Prob. 9RQCh. 4 - Prob. 10RQ
Ch. 4 - Prob. 11RQCh. 4 - Prob. 12RQCh. 4 - Prob. 13RQCh. 4 - Prob. 14RQCh. 4 - Prob. 15RQCh. 4 - Prob. 16RQCh. 4 - Prob. 17RQCh. 4 - Prob. 18.1MCQCh. 4 - Prob. 18.2MCQCh. 4 - Prob. 18.3MCQCh. 4 - Prob. 19.1MCQCh. 4 - Prob. 19.2MCQCh. 4 - Prob. 19.3MCQCh. 4 - Prob. 20.1MCQCh. 4 - Prob. 20.2MCQCh. 4 - Prob. 20.3MCQCh. 4 - Prob. 21DQPCh. 4 - Prob. 22DQPCh. 4 - Prob. 23DQPCh. 4 - Prob. 24DQPCh. 4 - Prob. 25DQPCh. 4 - Prob. 26DQPCh. 4 - Prob. 27DQPCh. 4 - Prob. 28DQPCh. 4 - Prob. 30CCh. 4 - Prob. 31CCh. 4 - Prob. 32C
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Similar questions
- If committing unethical practices and fraudulent activities are considered "subjective," cite two factors or reasons why a person or a group of persons commit such bad behavior.arrow_forwardWhich of the following is considered a type of threat to compliance with the Rules of the Code of Professional Conduct? A. Self interest B. Illegitimate skepticism C. Lack of management participation D. Irrevocabilityarrow_forwardDescribe some civil and criminal consequences if CPAS/auditors fail to follow professional standards. I Summarize some things that CPAS can do to limit their liability and prevent lawsuits. Determine whether the liability risk to CPAS/auditors is appropriate, too high, or too low.arrow_forward
- A CPA's duty of due care to a client most likely be breached when a CPA:arrow_forwardAICPA independence requirements suggest that a CPA should evaluate whether a particular threat to independence would lead a reasonable person, aware of all the relevant facts, to conclude that: a A questioning mind reveals doubt as to independence. b An unacceptable risk of non-independence exists. c The accountant is definitely not independent. d There is substantial cause for a legal finding of non-independence.arrow_forwardWhat elements does a plaintiff have to prove to be successful in a case against a negligent auditor?arrow_forward
- Describe one professional experience in which you used evidence as the basis for decision making and one experience in which you made a decision without evidence for support. For each of the situations described, explain how the use of evidence (or the lack of it) impacted the outcome of your decision making. Be specific in terms of positive and negative impacts.arrow_forwardWhich of the following factors is not an example of a risk relevant to the client continuance decision? a. Client entity characteristics. b. Independence risk factors. c. Third-party/due diligence risk factors. d. Advocacy threat.arrow_forwardGive typing answer with explanation and conclusion What action did they undertake that involved a violation of the FP Code of Conduct?arrow_forward
- Which of the following would be considered a self-interest threat? When a member of the assurance team was previously a director or officer of the assurance client Acting as the client’s advocate in a legal proceeding Potential employment with an assurance client A member of the assurance team has a close family member who is a director or officer of the assurance clientWhich of the following would be considered a self-interest threat? When a member of the assurance team was previously a director or officer of the assurance client Acting as the client’s advocate in a legal proceeding Potential employment with an assurance client A member of the assurance team has a close family member who is a director or officer of the assurance clientarrow_forwardWhich of the following ethical principles states that "A professional accountant should avoid any action that discredits the profession"? a. Integrity b. Objectivity c. Professional behavior d. Professional competencearrow_forward
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