Questions from Auditing and Assurance

Q: In what circumstances are the various conceptual frameworks within the Code of

In what circumstances are the various conceptual frameworks within the Code of Professional Conduct considered by accountants?

Q: Describe several business situations that would create a need for a report

Describe several business situations that would create a need for a report by an independent public accountant concerning the fairness of a company’s financial statements.

Q: List the major types of audit working papers and give a brief

List the major types of audit working papers and give a brief explanation of each. For example: One type of audit working paper is an account analysis. This working paper shows the changes that occurr...

Q: In preparing a client’s income tax return, a CPA feels that

In preparing a client’s income tax return, a CPA feels that certain expenses are unreasonably high and probably are overstated. Explain the CPA’s responsibilities in this situation.

Q: What board establishes international ethical standards for accountants? How do these

What board establishes international ethical standards for accountants? How do these standards compare to the AICPA Code of Professional Conduct?

Q: Since internal auditors are employees, they have no ethical responsibilities to

Since internal auditors are employees, they have no ethical responsibilities to others beyond their employers.” Comment on this statement.

Q: What is the basic purpose of a code of ethics for a

What is the basic purpose of a code of ethics for a profession?

Q: Describe the relationships among the AICPA Code of Professional Conduct’s principles,

Describe the relationships among the AICPA Code of Professional Conduct’s principles, rules, and interpretations.

Q: List the broad categories of threats to independence included in the AICPA

List the broad categories of threats to independence included in the AICPA Conceptual Framework for Independence Standards.

Q: How does the AICPA Code of Professional Conduct relate, if at

How does the AICPA Code of Professional Conduct relate, if at all, to Statements on Auditing Standards?