Forgotten Stakeholders." The CPA Journal (2006). Retrieved on 16 September 2006 . Bernardi‚ Richard A.‚ and LaCross‚ Catherine C. "Corporate Transparency: Code of Ethics Disclosure." The CPA Journal (2005). Retrieved on 16 September 2006 . Romal‚ Jane B.‚ and Hibschweiler‚ Arlene M. "Improving Professionals Ethics: Steps for Implementing Change." The CPA Journal (2004). Retrieved on 16 September 2006 . Turner‚ Robert M. "Ethics and Professionalism: The CPA in Industry." The CPA Journal (1999). Retrieved
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jeans. a.) In what ways are the services provided by Consumers Union similar to assurance services provided by CPA firms? The services provided by Consumers Union are very similar to assurance services provided by CA firms. The services provided by Consumers Union and assurance services provided by CPA firms are designed to improve the quality of information for decision makers. CPAs are valued for their independence and the reports provided by Consumers Union are valued because Consumers Union
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Strayer ACC 562 Advance Auditing MIDTERM EXAM (CH 1 – 3) Question 1 CPAs are licensed by the Correct Answer: state’s board of accountancy. Question 2 The Certified Internal Auditor program is administered by the Correct Answer: IIA. Question 3 The objective of an operational audit is to Correct Answer: evaluate the effectiveness and efficiency with which resources are employed. Question 4 As it relates to an audit‚ materiality is Correct Answer: determined
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Running head: CAREER INVESTIGATION ASSIGNMENT Career Investigation Assignment: My Ideal Career Stephanie Culver Davenport University FRSM100 Career and Education Seminar Introduction My ideal career is in accounting. I have determined that this field is best suited for me through career assessment tests‚ learning styles assessments and by actually working in this field for several years. I have been interested in accounting since taking my first accounting class
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AICPA Code of Professional Conduct Founded in 1887‚ the American Institute of Certified Public Accountants (AICPA)‚ a voluntary association of CPAs‚ created a strict code of professional conduct (AICPA‚ 2012‚ pg. 1). The purpose of the code of conduct is to discuss the ethical obligations of CPAs and to provide guidance and rules to the members. The AICPA code consists of six principles or purposes for which the members abide‚ honor‚ and respect. “The principles include responsibilities; the
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at initial recognition‚ to fresh-start measurements and to amortization techniques based on future cash flows. CPAs should not apply it to measurements based on the amount of cash or other assets an entity pays or receives or on observations of fair values in the marketplace. If such transactions or observations exist‚ CPAs should base measurements on them‚ not on future cash flows.A CPA who uses accounting measurements at initial recognition and when making fresh-start measurements should try to
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and underlying records for conformance with generally accepted accounting principles (GAAP). C. Tests for compliance with laws and regulations. D. Both B and C. 2. Audits of state and local governments may be performed by A. Independent CPAs. B. State audit agencies. C. Federal grantor agencies. D. All of the above. 3. In the auditor ’s report the financial statements on which the opinion is being expressed are specified in the A. Scope paragraph. B. Opinion paragraph. C
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importance to this is that it’s not a regulatory body issuing rules‚ the Code was established and agreed to voluntarily by CPAs who are members of the AICPA. The main objectives of the AICPA ’s Code of Professional Conduct states that a distinguishing mark of a profession is acceptance of its responsibility to the public. This imposes a public interest responsibility for CPAs. The public interest is defined as the collective well-being of the community of people and institutions the profession serves
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Although Lam & Company‚ the audit firm had previously audited Peninsula‚ Jimmy has recently become aware of the CPA firm of Zhou & Company from his friend. His interest in the firm was heightened when he discovered that Zhou & Company audited the primary bank with which he did business. During March of 2015‚ Jimmy contacted his banker who arranged for Jimmy to have lunch with one of the CPA firm’s partners. At that time‚ a wide-ranging conversation was held concerning Peninsula as well as Zhou & Company
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CHAPTER 1 The Role of the Public Accountant in the American Economy Review Questions 1-1 The “crisis of credibility” largely arose from the number of companies that restated their previously issued financial statements as a result of accounting irregularities and fraud. Especially responsible were the very visible Enron and WorldCom fraud cases. Both companies filed for bankruptcy and constituted the largest companies in American history to do so. The extent of the accounting irregularities
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