Integrity requires a member to be,
among other things, honest and candid within the constraints of client confidentiality
. Service and the public trust should not be subordinated to personal gain and advantage. … Integrity also requires a member to observe the principles of objectivity and independence and of due care.
Which of the following best describes competence as defined in the aicpa code of professional conduct?
The correct answer is b.
The application of skill and knowledge with reasonable care and diligence
.
Which of the following phrases is used in the aicpa code of professional conduct to describe integrity?
Which phrase is used by the Code of Professional Conduct to describe integrity?
Candid, within the constraints of client confidentiality
.
What are the principles of the aicpa code of professional conduct?
PRINCIPLES OF THE AICPA CODE OF PROFESSIONAL CONDUCT
The principles are:
Responsibilities Principle, The Public Interest Principle, The Integrity Principle, Objectivity and Independence Principle, Due Care Principle, and the Scope and Nature of Services Principle
.
Which statement best describes the aicpa ethical rules relating to members failure to file his or her personal tax return?
Correct answer: Option C) The failure to file a personal tax return in a timely manner is
usually considered an act discreditable to the profession
.
Which phrase is used by the code of Professional Conduct?
Which phrase is used by the Code of Professional Conduct to describe integrity?
Candid, within the constraints of client confidentiality
.
How does an employee show integrity?
People with integrity value
other people by showing them respect at work
. They do their best to be on time to meetings, meet project deadlines and keep other’s feelings in mind. You can demonstrate this trait by exercising punctuality, care with your words and careful consideration of people’s ideas.
Which one of the following best describes professional judgment?
Professional judgment is the process of using relevant training, knowledge, and experience to
reach a decision
or draw a conclusion in evaluating evidence, estimating probabilities, or selecting between options.
Which of the following best describes a significant similarity between the AICPA and Iesba codes?
The correct answer is 1) Both codes
incorporate the conceptual framework approach for evaluating threats when specific rules on a
matter do not exist. It must be specified, however, the the AICPA and IESBA do not use the same conceptual framework even though there is some overlap between the two.
Which of the following describes competence?
The answer is B.
The application of skill and knowledge with reasonable care and diligence
.
What are the principles of professional conduct?
- Adhere to the highest standards of professional conduct.
- Strive for impartiality and objectivity when dealing with others.
- Communicate openly and honestly with colleagues and clientele.
- Maintain confidentiality in professional relationships.
Who does the aicpa Code of Professional Conduct apply to?
1. Whom does the Code of Professional Conduct govern? Bylaw section 230 explains that the Code applies to
all individuals that are members of the American Institute of Certified Public Accountants
.
What is the purpose of the aicpa code of professional conduct?
The code
establishes standards for auditor independence, integrity and objectivity, responsibilities to clients and colleagues and acts discreditable to the accounting profession
. The AICPA is responsible for drafting, revising and reissuing the code annually, on June 1.
Is Jane’s independence impaired under the aicpa code?
Is Jane’s independence impaired under the AICPA code? A.)
No
, because Jane is not on the attest team or able to influence the engagement.
In which situations may you disclose confidential?
In response to a validly issued and enforceable subpoena.
At the request of another client that needs the information to file its tax return
. As an example in a seminar given for CPE credit. In a proposal to a potential client.
When a member performs Nonattest services for an attest client management is required to?
Question: When a member performs non attest services for an attest client, management is required to
designate an individual to oversee those services
.
