Under the Securities Act of 1933, a third-party plaintiff does not have the
burden of proof that he or she relied on the financial statements or that
the auditor was negligent or fraudulent in doing the audit. Rather, the
plaintiff need only p
Ethical Rulings are:
I. Explanations relating to broad hypothetical circumstances.
II. Not enforceable, but one must justify departure.
III. Explanations relating to specific factual circumstances.
Rule 101, Independence,
The generally accepted auditing standard that requires "Adequate
technical training and proficiency" is normally interpreted as requiring the
auditor to have:
formal education in auditing and
Sarbanes-Oxley and the Securi
In the audit of historical financial statements, what accounting criteria is
Generally accepted accounting
Which of the following services provides the lowest level of assurance on a
CPA firms are never allowed to provide bookkeeping services for clients.
One objective of an operational audit is to:
make recommendations for improving
The use of the Certified Public Accountant title