A) The CPA and XM's president are both on the Board of Directors of COD Corporation.
B) The CPA and XM's president each own 25% of FOB Corporation, a closely held company.
C) The CPA has an automobile loan from XM, a financial institution. The loan is collateralized by the automobile.
D) The CPA reduced XM's usual audit fee by 40% prior to the audit because XM's financial condition was unfavorable.
Which of the following statements include in the advertising of a CPA firm is permissible according to Rule 502, Advertising and Other Forms of Solicitation.
A) "Bob Bullet, CEO of A-One Corp, states that we are the best auditors his company has ever used."
B) "We provide the best audit coverage of any firm in the state."
C) "We audit the five largest manufacturing companies in the state."
D) "We have several tax partners that work closely with Judges and IRS attorneys on high-profile legal issues"
To which group can a CPA provide audit documentation without being subpoenaed and without the client's consent?
A) The IRS
B) The FASB
C) Another CPA firm performing a peer review
D) Another CPA firm considering the purchase of the auditing firm.
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