pg. 1 A6- M7 - the AICPA Code of Professional Conduct Exam|2025 Newest Actual Exam |Complete 170 Questions and Correct Verified Answers| Graded A+
what services do objectivity and independence apply to - ANSWER - -objectivity applies all services provided
-independence applies to members in public practice providing auditing and attestation services
"Due care" principle in the AICPA code of professional conduct - ANSWER - members should continue to improve the competence and quality of their services
"Scope and nature of services" principle in the AICPA code of professional conduct - ANSWER - member should observe the principles of the code of professional conduct in determining the nature and scope of the services to be provided
the principles of the AICPA code of professional conduct (6) - ANSWER - - responsibilities -public interest -integrity -objectivity and independence -due care -scope and nature of services
in order for members to adhere to all the principles of the code of professional conduct;
- ANSWER - the members must:
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pg. 2 -have adequate internal quality control measures to ensure quality work -determine whether conflicts of interest arise for audit clients -assess whether the firms’ activities are consistent with professionalism
standards for the members in public practice - ANSWER - members in public practice follow part 1 of the code of conduct so it’s (1.xxx)
standards for the members in business - ANSWER - members in business follow part 2 of the code of conduct so it’s (2.xxx)
standards for other members - ANSWER - other members follow part 3 of the code of conduct so it’s (3.xxx_
the "rules" portion of the AICPA code of professional conduct - ANSWER - -the "rules" portion of the code consists of rules, interpretations, and rulings that govern the specific performance of members
-the rules that apply to members are based on whether they are a member in public practice, a member in business, or another member
independence rule applies to - ANSWER - independence rule applies to member in public practice
integrity and objectivity rule apply to - ANSWER - member in public practice and member in business
general standards rule applies to - ANSWER - member in public practice and member in business
compliance with standards rule applies to - ANSWER - member in public practice and member in business
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pg. 3 accounting principles rule applies to - ANSWER - member in public practice and member in business
confidential client information rule applies to - ANSWER - member in public practice
contingent fees rule applies to - ANSWER - member in public practice
acts discreditable rule applies to - ANSWER - member in public practice and member in business and other member
advertising and other forms of solicitation rule applies to - ANSWER - member in public practice
commissions and referral fees rule apply to - ANSWER - member in public practice
form of organization and name rule applies to - ANSWER - member in public practice
other members - ANSWER - other members could refer to people who are retired or unemployed
what rules must members in public practice follow - ANSWER - members in public practice follow part 1 of the code of conduct and part 1 is divided into 3 categories
1) covered members: no direct or material indirect interest in the company
2) immediate family members: follow the same rules as covered members
3) close relatives: if you knew or should have known that they: -hold a significant interest in the company -have access to the accounting records; or -have the ability to influence management
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