Code of Professional Conduct Flashcards
1
Q
A CPA is permitted to disclose confidential client information without the consent of the client to…
A
a state CPA society voluntary quality control review board
2
Q
7 threats that may interfere with compliance of the Code?
A
Self-interest Self-review Advocacy Familiarity Undue influence Management participation Structural threats
3
Q
What are the three key terms in the Conceptual Framework?
A
Threats, safeguards, and acceptable level.
4
Q
How long do accountants have to produce records after a client has requested them?
A
45 days, absent unusual circumstances.
5
Q
What 4 parts are the Code broken into?
A
Preface (to all members)- six topics: Part 1 (Members in Public Practice) Part 2 (Members in industry) Part 3 (Other members)
6
Q
What does Topic 200 in the Preface to the Code refer to?
A
Describes the structure of the Code and indicates its applicability
- Consider, think about matters being addressed
- Evaluate, measure matters significance
- Determine conclusion related to the matter
7
Q
What does Topic 300 in the Preface to the Code refer to?
A
Describes the principles of the Code, and supports these premises: Responsibilities Public interest Integrity Objectivity and Independence Due care Scope and nature of services
