100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
Chapter 2: The CPA Profession (PowerPoint). Exam Questions & Answers. Rated A+ CA$13.27   Add to cart
Quickly navigate to
Preview
  2.  
  3. CPA
  4.  
  5. CPA
  6.  
  7. CPA

Exam (elaborations)

Chapter 2: The CPA Profession (PowerPoint). Exam Questions & Answers. Rated A+
 6 views  0 purchase
  • Institution
  • CPA

Chapter 2: The CPA Profession (PowerPoint). Exam Questions & Answers. Rated A+ Activities of CPA Firms - --CPA firms provide audit services as well as other attestation and assurance services. -CPA firms also provide accounting and bookkeeping services, tax services, and management consulti...

[Show more]

Preview 2 out of 5  pages

Document information

  • August 10, 2023
  • 5
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

Subjects

  • chapter 2 the cpa profession powerpoint exam q

Written for

All documents for this subject (759)

Seller

avatar-seller
PassPoint02

Reviews received

Content preview

Chapter 2: The CPA Profession
(PowerPoint). Exam Questions &
Answers. Rated A+

Activities of CPA Firms - ✔✔--CPA firms provide audit services as well as other attestation and assurance
services.



-CPA firms also provide accounting and bookkeeping services, tax services, and management consulting
and risk advisory services.



-Although the Sarbanes-Oxley Act and the SEC restrict auditors from providing many consulting services
to public company audit clients, audit firms are not restricted from providing consulting to private
companies and public companies that are not audit clients.



Sarbanes-Oxley Act - ✔✔-Act—Established the Public Company Accounting Oversight Board (PCAOB)



PCAOB - ✔✔-Provides oversight for auditors of public companies including:



-Establishing auditing, attestation, and quality control standards for public company audits.



-Performing inspections of audit engagements and quality controls.



The Securities Exchange Commission (SEC) - ✔✔-A federal government agency that assists in providing
investors with reliable information upon which to make investing decisions.



The Securities Act of 1933 - ✔✔-Requires most companies planning to issue *new securities* to the
public to submit a registration statement to the SEC for approval.

, The Securities Exchange Act of 1934 - ✔✔-Provides additional protection for investors by requiring
public companies to file detailed annual reports with the commission.



The Securities Acts of 1933 and 1934 - ✔✔-Require financial statements and the opinion of an
independent public accountant as part of the registration statement and subsequent reports.



Several reports required by the SEC are of interest to auditors: - ✔✔--Form S-1

-Form 8-K



-Form 10-K

-Form 10-Q



Form S-1 - ✔✔-"S" forms must be completed prior to issuing new securities to the public



Form 8-K - ✔✔-annual report with detailed financial information, including audited financial statements



Form 10-K - ✔✔-annual report with detailed financial information, including audited financial
statements



Form 10-Q - ✔✔-quarterly report containing certain financial information and auditor reviews of
financial statements



American Institute of Certified Public Accountants (AICPA). - ✔✔-CPAs are licensed by the state in which
they practice, but significant influence is exerted by their professional organization



Membership is restricted to CPAs. Membership is voluntary, so not all CPAs are members, but it is the
*largest professional association* for CPAs in the United States.



The *AICPA* sets standards and rules that all members and other practicing CPAs must follow in four
major areas - ✔✔--Auditing standards

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller PassPoint02. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for CA$13.27. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

72841 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
CA$13.27
  • (0)
  Add to cart