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Category > Accounting Posted 03 Oct 2017 My Price 16.00

ACC 576 Week 1 Quiz

·         Question 1

   
 

Which of the following bodies enforce the audit requirements of the Employee Retirement Security Act of 1974 (ERISA) with respect to employee benefit plans?

      

 

      

·         Question 2

   
 

Independence standards of the GAO for audits in accordance with generally accepted government auditing standards describe three types of impairments of independence. Which of the following is one of these types of impairments?

      

 

      

·         Question 3

   
 

The Department of Labor (DOL) most frequently conducts financial and performance audits following

      

 

      

·         Question 4

   
 

The controller of a small utility company has interviewed audit firms proposing to perform the annual audit of their employee benefit plan. According to the guidelines of the Department of Labor (DOL), the selected auditor must be

      

 

      

·         Question 5

   
 

Which of the following is correct concerning General Accountability Office (GAO) audits?

      

 

      

·         Question 6

   
 

When the dependent daughter of a partner in a CPA firm owns ten shares of stock in an audit client, which rule of the Code of Professional Conduct is most directly relevant?

      

 

      

·         Question 7

   
 

According to the PCAOB, which of the following tax services may be provided jointly with the audit of an issuer's financial statements without impairing independence?

      

 

      

·         Question 8

   
 

Which of the following family relationships is most likely to impair a CPA’s independence with respect to a particular audit client on which the CPA works as a “covered member”?

      

 

      

·         Question 9

   
 

Under the ethical standards of the profession, which of the following positions would be considered a position of significant influence in an audit client?

      

 

      

·         Question 10

   
 

Who of the following is an "other member" for code purposes?

      

 

      

·         Question 11

   
 

An auditor’s independence is considered impaired if the auditor has

      

 

      

·         Question 12

   
 

If requested to perform a review engagement for a nonpublic entity in which an accountant has an immaterial direct financial interest, the accountant is

      

 

      

·         Question 13

   
 

Bill Fling, CPA, has posted the general ledger and has maintained the financial records of Wing Corporation.  As a part of his responsibilities he has recorded journal entries and made closing entries.  Which of the following best summarizes the AICPA and SEC views as to the following question:  Is audit independence impaired? 

AICPA

SEC
     

 

      

·         Question 14

   
 

In which of the following situations is there a violation of client confidentiality under the AICPA Code of Professional Conduct?

      

 

      

·         Question 15

   
 

Which of the following actions by a CPA most likely violates the profession’s ethical standards?

      

 

      

·         Question 16

   
 

Which of the following statements is correct?

      

 

      

·         Question 17

   
 

Assuming appropriate disclosure is made, which of the following fee arrangements generally would be permitted under the ethical standards of the profession?

      

 

      

·         Question 18

   
 

A violation of the profession’s ethical standards least likely would have occurred when a CPA

      

 

      

·         Question 19

   
 

The AICPA Code of Professional Conduct's Internal Control Conceptual Framework suggests that CPAs evaluate whether a particular threat would lead which type of person to conclude that an unacceptable risk of non‐independence exists?

      

 

      

·         Question 20

   
 

When a threat to independence arises that is not specifically considered in the Code of Professional Conduct an auditor should consider

      

 

      

Answers

SmartExpert
(118)
Status NEW Posted 03 Oct 2017 04:10 AM My Price 16.00

ACC----------- 57-----------6 W-----------eek----------- 1 -----------Qui-----------z-----------

Attachments

file 1507006788-week 1 quiz.docx preview (1900 words )
Q-----------ues-----------tio-----------n 1----------- W-----------hic-----------h o-----------f t-----------he -----------fol-----------low-----------ing----------- bo-----------die-----------s e-----------nfo-----------rce----------- th-----------e a-----------udi-----------t r-----------equ-----------ire-----------men-----------ts -----------of -----------the----------- Em-----------plo-----------yee----------- Re-----------tir-----------eme-----------nt -----------Sec-----------uri-----------ty -----------Act----------- of----------- 19-----------74 -----------(ER-----------ISA-----------) w-----------ith----------- re-----------spe-----------ct -----------to -----------emp-----------loy-----------ee -----------ben-----------efi-----------t p-----------lan-----------s? -----------Sel-----------ect-----------ed -----------Ans-----------wer-----------: a-----------. -----------The----------- De-----------par-----------tme-----------nt -----------of -----------Lab-----------or.----------- A-----------nsw-----------ers-----------: a-----------. -----------The----------- De-----------par-----------tme-----------nt -----------of -----------Lab-----------or.----------- b-----------. -----------The----------- Se-----------cur-----------iti-----------es -----------and----------- Ex-----------cha-----------nge----------- Co-----------mmi-----------ssi-----------on.----------- c-----------. -----------The----------- De-----------par-----------tme-----------nt -----------of -----------Pro-----------jec-----------t M-----------ana-----------gem-----------ent-----------. -----------d.-----------De-----------par-----------tme-----------nt -----------of -----------Com-----------mer-----------ce.----------- A-----------nsw-----------er -----------Fee-----------dba-----------ck:----------- Th-----------is -----------ans-----------wer----------- is----------- co-----------rre-----------ct -----------bec-----------aus-----------e t-----------he -----------Dep-----------art-----------men-----------t
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