Week 1 Individual Memo - MEMO To: Sharon Smith From: Laura...

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MEMO To: Sharon Smith From: Laura Munger Date: June 20, 2011 Subject: External CPA Review of XYZ LLC As a Certified Public Accountant (CPA), I must follow the guidelines of professional conduct that are provided by the American Institute of CPAs (AICPA, 2011). The areas covered by these guidelines are the professional behavior that a CPA exhibits concerning their responsibilities, when dealing with the public interest, their integrity and objectivity, and services provide. I am providing the following information per your request for a summary of the answers to the questions by the external CPAs regarding deferred taxes, accounting changes and error corrections, and the rationale behind establishing the subsidiary as a corporation. In addition, I am providing further information regarding my responsibilities as the CPA for ABC, Inc. and the difference between a review and an audit. If you have any further questions please feel free to contact me. As the CPA of ABC, Inc. my responsibilities are to provide professional accounting services to my client. As a CPA I also have the responsibility to work with my fellow CPAs to improve the methods of accounting, maintain public’s confidence, and maintain the responsibilities of independence and an unbiased opinion (AICPA, 2011). In addition, have to always keep the interest of the public in mind as they keep the interest of their client in mind as well. A CPA of a company is responsible with preparing the financial reports of the company that decisions will be made from by the investors and creditors and they depend on the CPA that they will be accurate. As the CPA of ABC, Inc., I also have to answer
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This note was uploaded on 07/17/2011 for the course ACC 545 ACC 545 taught by Professor Donna during the Spring '09 term at University of Phoenix.

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Week 1 Individual Memo - MEMO To: Sharon Smith From: Laura...

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