41.
In the PeopleSoft case, the auditors violated what aspect of independence?
42.
On January 24, 2014, KPMG agreed to pay $8.2 million to settle charges by the SEC that
the firm violated auditor independence rules because it:
43.
On July 1, 2015, the SEC charged Deloitte & Touche with violating auditor independence
because:
44.
The insider trading case against Scott London focused on:
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45.
The insider trading case against Thomas Flanagan focused on:
46.
What is “Operation Broken Gate?”
47.
A conflict of interest exists when:
48.
Which of the following is NOT an example of a conflict of interest?
49.
A CPA can accept a gift from a client as long as:
50.
Michael has been approached by the CEO of an audit client and offered two tickets to the
FIFA tournament during the Rio 2016 Olympic Games. The CEO knows that Michael’s wife
is from Rio and thought this was a nice way to thank him for twenty-years of excellent
professional services. From an ethical perspective in deciding whether to accept the gift
Michael should consider whether:
51.
To prevent subordination of judgment, a CPA should evaluate threats to:
52.
CPAs in business face threats to independence just as CPAs in public practice. Which of
the following threats do not exist for CPAs in business?
53.
An example of a self-review threat for CPAs in business is:
54.
Which of the following is NOT a safeguard to mitigate threats to compliance with the rules
for CPAs in business or reduce them to an acceptable level?
55.
Ethical conflicts for CPAs in business can occur when:
56.
Which of the following is NOT an example of a conflict situation for CPAs in business that
may lead to subordination of judgment?
57.
Which of the following is NOT an outright restriction on providing nonattest services for an
attest client?
58.
Under the Sarbanes-Oxley Act, the auditor’s responsibility with respect to internal controls
can best be stated as:
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59.
The due care principle in the AICPA code:
60.
Which rule of professional conduct in the AICPA Code does not apply both to internal and
external accountants who are CPAs and members of the Institute?
61.
The confidentiality standard in the AICPA code provides a blanket exception to the rule in
each of the following situations except:
62.
A common requirement/effect of the commissions and contingent fees rule is:
63.
Ethics rules in the AICPA Code apply to:
64.
A CPA can accept a contingent fee in providing tax services for an attest client if:
65.
Objectivity may be impaired when a CPA prepares a tax return for a client because:
66.
CPAs can advertise and solicit clients as long as such practices are:
67.
Circular 230 applies to CPAs who:
68.
Statement on Standards for Tax Services No. 1 establishes as a basic principle of
providing tax services that the CPA:
69.
The requirement that there should be reasonable support for a tax return position before a
CPA recommends it to a client most directly aligns with which tax standard?
70.
The CPA firm that became involved in tax shelter controversies with the IRS is:
71.
Which of the following is NOT something the CPA should do in tax planning?
72.
The PCAOB rules prohibit auditors from:
73.
To whom does the CPA owe ultimate allegiance in carrying out professional obligations?
74.
Integrity is measured in terms of what is right and just. What is a question that a CPA can
ask to test decisions?
75.
Why don’t auditors prepare financial statements, as well as audit them?
76.
Which statement is correct with respect to a CPA’s ethical obligation to return client books
and records and CPA work papers?
77.
George has been asked by his audit client to provide income tax services including tax
planning. Prior to providing such services, George should be certain that:
78.
Diane is a CFO at We Do What We Want, Inc. She was just instructed by her boss, the
CEO, to accelerate the recording of revenue into an earlier year to meet financial analysts’
earnings projections. In order to meet the ethical standards of the accounting profession,
Diane must be certain that she:
79.
Which of the following statements best reflect the ethical obligation of CPAs with respect
to working with outside advertising agencies to market professional services for the CPA?
80.
One of the differences between the ethical obligations of CPAs and lawyers is: