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AICPA Ethics Certification Course (Module 5) Exam With 100% Correct And Verified Answers
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AICPA Ethics Certification Course (Module 5) Exam With 100% Correct And Verified Answers
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AICPA Ethics Certification Course (Module5) Exam With 100% Correct And Verified
Answers
Performing Nonattest Services - Correct
Answer-- consulting or tax services
- may raise self-review, management
participation, or advocacy threats to
independence
General Requirements to Perform Nonattest
Services: Clients Must Assumes These
Responsibilities: - Correct Answer-- Perform
all management responsibilities
- Oversee the services by designating an
individual (preferably from senior
management) with suitable skill, knowledge,
or experience
- Evaluate the adequacy and results of
services
- Accept responsibility for the results of the
services
Overseer of Nonattest Service Should Have: -
Correct Answer-Suitable skill, knowledge or
experience:
- knows the client's business,
- knows the client's industry, and
- has general business knowledge
Vendarsol
, Audit Firm Should Not Assume No Mgmt.
Responsibilities - Correct Answer-- Authorize,
execute, or consummate a transaction
exercising authority on behalf of a client.
- Prepare source documents (in electronic or
other form) evidencing the occurrence of a
transaction.
- Take custody of client assets, data, or
records.- Supervise client employees as they
perform their normal recurring activities.
- Other: Determine which of your firm's
recommendations the client should
implement.; Report to the board of directors
on management's behalf.
Before Performing Nonattest Services,
Required to Establish and Document
Understanding of: - Correct Answer-- the
objectives of the engagement,
- the services to be performed,
- the client's acceptance of its
responsibilities,
- the firm's responsibilities, and
- any limitations of the engagement
Failure to Document Understanding With
Client - Correct Answer-- violation of
COmpliance with Standards RUle
Vendarsol
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