Consulting Services

Question 1

T/F

A CPA may perform an analysis of the client’s accounting system in a consulting service engagement

Answer 1

TRUE

CPA develops findings, conclusions, and recommendations for the client in a consulting service engagement

Question 2

T/F

A CPA may perform a review of the client’s prepared business plan in a consulting service engagement

Answer 2

TRUE

CPA develops findings, conclusions, and recommendations for the client in a consulting service engagement

Question 3

T/F

A CPA may perform preparation of information for obtaining financing in a consulting service engagement

Answer 3

TRUE

CPA develops findings, conclusions, and recommendations for the client in a consulting service engagement

Question 4

When undertaking a consulting services engagement, the CPA must tell the client what?

Answer 4

Inform the client of significant reservations concerning the benefits of the engagement

Question 5

What are the six types of consulting services? (CAPITS)

Answer 5

1) Consultations
2) Advisory Services
3) Implementation Services
4) Transaction Services
5) Staff and other Support Services
6) Product Services