AICPA Independence of Mind
State of mind, without being affected by influences, act with integrity and exercise objectivity and professional skepticism. AKA "Independence in Fact"
True or False - Assurance service professionals would like to reduce litigation to negligible levels
False - Economics suggest that the profession needs litigation
Professional Conduct (AICPA Code)
>Members must adhere to rules of conduct or risk losing their membership. >AICPA Code consists of two sections. (1) The Principles and (2) the Rules >The principles provide the framework for the Rules that govern the performance of professional services by members >Interpretations of Rules of Conduct are provided in the Statements on Auditing Standards (SAS)
Not too easy. Not too difficult.
This is a great course that helps prepare for the AUD section of the CPA and offers great exposure to the audit profession and its foundations.
I learned of the basic philosophies behind successful audit engagements. I was enlightened on the many components of audit.
Hours per week:
Advice for students:
Go to class, listen to lectures, engage in activities and study PowerPoints. If done, this is a relatively easy course.