Unit 2 Questions 3-30, 3-35, and 4-20 - Unit 2 Homework Questions 3-30 1 A Rule 203 Accounting Principle B an Auditor knows a material modification is

Unit 2 Questions 3-30, 3-35, and 4-20 - Unit 2 Homework...

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Unit # 2 – Homework Questions # 3-30 1) A. Rule 203 Accounting Principle B. an Auditor knows a material modification is needed but does not make it. 2) A. Rule 501 Acts discreditable – failure to follow standards and procedures or other requirements in governmental audits. B. An auditor discloses CPA exam questions and answers. 3) A. Rule 502 Advertising and other forms of solicitation B. An auditor is harassing a marketing firm is in violation of rule 502. 4) A. Rule 503 – Commissions and referral fees. B. A public practice member should disclose to the client the fact that the members are prohibited from accepting commission and referral to clients of product or services to others. 5) A. Rule 302 – Contingent Fees B. A member prepares an amended tax return for a flat fee and quotes the flat fee for future services. 6) A. Rule 301 – Confidential client information B. A member discloses a client confidential information for his own personal gain. 7) A member may not serve as a trustee for any pension trust of the client during the period covered by the financial statements. = Rule 101-1 Independence a financial relationships another situation: A member may not have a direct or material indirect interest in the client. 8) A member shall adequately plan and supervise an engagement. = Rule 201 General standards a planning and supervision another situation: A member should exercise due professional care. 9) A member may not have or be committed to acquire any direct financial interest in the client. = Rule 101-15 Independence - including obligations to acquire interest in client another situation: A member cannot own interest in a trust in which the client has an interest. 10) A member shall not practice under a misleading firm name. = Rule 505 Form of Organization and name another situation: A firm may not say they are members of the AICPA unless all the CPA owners are members of the AICPA.
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11) A member shall not knowingly subordinate his or her judgment to others. = Rule 102-3
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