Cpa Ethics Exam Questions With Correct And Verified Answers 2024 (Graded A+)

A member is told by the president of an audit client that she has named the member as executor of her estate. The president owns about 30 percent of the stock in the client. Being named as executor impair the members's independence with her company. (a) does (b) does not {Ans: (b) is correct. Being named as executor does not impair independence (Ruling 11).}The accounting profession 's public includes (a) Governmental agencies. (b) Credit grantors. (c) Investors. (d) All of the above {Ans: (d) is the correct answer. As (see Article II) the CPA's public includes everyone that relies on them. This then would include (a) governmental agencies, (b) credit grantors and (c) investors.}In a mixed partnership of members (CPAs) and non-CPAs, the members be held ethically responsible for the acts of the non-CPAs. (a) may not (b) may {Ans: (b) is correct. The member may be held responsible under the Code of Professional Conduct for the actions of non-CPA owners (Council Resolution Concerning Rule 505 A. 4.).}Compliance with the AICPA Code of Professional Conduct depends primarily on: (a) Public opinion and reinforcement of one's attestation peers. (b) Disciplinary proceedings when the code is violated. (c) Member's