A6 Flashcards

1
Q

What is the standard of professional behavior?

A

An auditor’s best effort in the performance of professional services in accordance with the relevant technical and professional standards.

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2
Q

Define the public interest standard

A

Collective well-being of the community of the people and entities served by the auditor

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3
Q

In a preparation engagement - if the accountant is unable to include the statement “no assurance is provided” on each page, what can the auditor do?

A
  1. Issue disclaimer that makes clear no assurance is provided on the F/S
  2. Perform a compilation engagement
  3. Withdraw from the engagement
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4
Q

What are the Generally accepted government auditing standards?

A
  1. Serving the public interest
  2. integrity
  3. objectivity
  4. proper use of government information
  5. resources and positions
  6. professional behavior
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5
Q

What is the issuer and nonissuer standards relating to a lead partner rotating engagements?

A

Issuer: Every 5 years
Nonissuer: none

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6
Q

What is an example of exercising due care?

A

Consultation or referral when professional engagement exceeds the CPA’s personal competence

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