Etica

Question 1

What philosophical principle in ethics places emphasis on the consequences of action, rather than following the rules?

Answer 1

Utilitarianism Principle

Question 2

Define the imperative principle of ethics.

Answer 2

Ethics are a function of moral rules and principles

Question 3

Based on SOX, who is responsible for the independence of the external auditor?

Answer 3

Audit Committee / Board of Directors

Question 4

Why does the SEC require companies to disclose fees paid to independent public accounting firms for audit and consulting services? on audit tab

Answer 4

Client directors and financial statement users should consider all aspects related to auditors’ independence, and information about fees is important.

Question 5

The AICPA Council has designated what Boards to pronounce accounting principles under the Accounting Principles Rule?

Answer 5

Financial Accounting Standards Board
Accounting Principles Board
Governmental Accounting Standards Board

Question 6

Define the Acts Discreditable Rule. on audit tab

Answer 6

A member shall not commit an act discreditable to the profession