Rivers, a California CPA, is a partner in the firm of Rivers &...

Rivers, a California CPA, is a partner in the firm of Rivers & Griffin, CPA's. The firm was found to have knowingly prepared materially misleading financial statements, for the second time. What is the maximum administrative penalty the firm can receive for this second offense?

·      $50,000

·      $100,000

·      $1,000,000

·      $5,000,000

Which of the following services is not considered to be a hosting service and, as such, will not impair independence if performed for an attest client?

·      Acting as the sole host of a financial or non-financial information system of an attest client

·      Having possession of a depreciation schedule prepared by the member, provided the deprecation schedule and calculation are given to the attest client so that attest client's books and records are complete.

·      Providing electronic security or back-up services for an attest client's data or records

·      All of the above are not considered to be a hosting service.