The term “expectations gap” has been coined to describe: a) The difference between what the public thinks it is receiving in audited financial statements‚ and what the public is actually receiving. b) The expectation that business exists to serve the needs of the shareholders and society. c) The opinion of the public that the public’s physical wellbeing‚ and the wellbeing of some workers‚ is threatened by corporate activity. d) That directors‚ executives and managers are human‚ and make mistakes
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Developing the Canadian CPA certification program was an immediate priority of the merged organization. By drawing on the best of existing programs‚ we are creating a certification program aimed at producing Canada’s pre-eminent professional accountants. The new program will: • • Be recognized as being at least as rigorous as all current programs. Require an undergraduate degree and specific subject area coverage for admission to the graduate-level CPA Professional Education Program (CPA PEP) being developed
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|AUDITING THEORY | | | |Comprehensive Reviewer | |Preliminary Grading Period
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decision which answers why I want to become a CPA and how I can become a CPA. “Never call an accountant a credit to his profession; a good accountant is a debit to his profession” (Charles Lyell). Accountancy is one of the most respected careers and CAP’s are considered as one of the highest paid professionals. It is not just the income which attracts people towards this profession‚ but also the respect attached to it. Certified Public Accountant (CPA) is the statutory title of qualified accountants
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with core CPA competencies to deliver superior services. CPAs must staying current with technology for increased efficiency and expansion of services. It is important to keep the stakeholders and investors up to date in real time to increase transparency. CPAs must embrace mobile technologies and social media to modernize and enhance interaction and collaboration with clients and colleagues. Fraud can be easier to commit than to detect or prevent. CPAS have a responsibility to ensure
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fee is an action that is | | | Prohibited under the AICPA Code of Professional Conduct. | | A violation of GAAS. | | Not addressed by the AICPA Code of Professional Conduct. | | Acceptable if sanctioned by state law. | | Smith‚ CPA‚ is a partner of Johnson Accounting Firm. Johnson audited the books of Hometown Bank. Smith’s independence would be impaired under which of the following circumstances? | | | Smith had an account with Hometown Bank 2 years ago. | | Smith
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prevent lawsuits by third parties against the auditors. Answer: False Difficulty: Medium Multiple Choice Questions 11. A CPA issued an unqualified opinion on the financial statements of a company that sold common stock in a public offering subject to the Securities Act of 1933. Based on a misstatement in the financial statements‚ the CPA is being sued by an investor who purchased shares
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Accounting/ACC548 MEMORANDUM Date: ------------------------------------------------- To: CPA Senior Partner ------------------------------------------------- From: ------------------------------------------------- Subject: Reporting Requirements ------------------------------------------------- Objectives This memo is prepared with
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American Institute of Certified Public Accountants (AICPA) is an organization that provides voluntary membership to more than 350‚000 certified public accountants (CPAs) from 128 countries. With so many CPAs belonging to the association‚ the code of professional conduct is typically used to discuss the ethical obligations of the CPAs. The principles of the code of professional conduct are responsibility‚ public interest‚ objectivity and independence‚ due care‚ and scope and nature of services. The
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Joanne S. The CPA Journal80.2 (Feb 2010): 7. Turn on hit highlighting for speaking browsers by selecting the Enter button Show highlighting Abstract (summary) TranslateAbstract One of the basic tenets of the CPA profession is to serve the public interest. Working with the Wenchester County Association and the Business Council of Wenchester‚ it took weeks for the task force of about 20 CPAs to attend budget hearings and various meetings‚ well as to pore over the proposed budget. CPAs have much to
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