AICPA Code of Professional Conduct Flashcards
1
Q
Independence rule
A
Member in public practice is independent in the performance of professional services
2
Q
Which engagements don’t require independence?
A
Compilations or non attest
3
Q
Which scenarios regarding covered members affect independence?
A
Direct financial interest and material indirect financial interest
4
Q
What are remediating scenarios for independence?
A
Fully collateralized loan, cash advance or credit below $10k, bank account fully insured
5
Q
Integrity and objectivity
A
Maintaining objectivity and integrity and free from conflict of interests
6
Q
General standards rule
A
professional competence, due professional care, planning and supervision, sufficient relevant data
