Licensing and Disciplinary Systems Flashcards
1
Q
Who grants CPA licenses?
A
State boards of accountancy
2
Q
What does the acronym “JEEP” stand for?
A
The AICPA’s Joint Ethics Enforcement Program
3
Q
List the activities for which a CPA license is needed.
A
- Audit or other SAS engagement
- SSARS review of F/S
- SSAE examination of prospective F/S
- Any engagement meeting Public Company Accounting Oversight Board standards
4
Q
What are the requirements for obtaining a CPA license in most states?
A
- Education (bachelors + 30 hours of college credit) and continuing professional education
- Pass CPA Exam
- Experience (2,000 hours)
5
Q
List the items that can cause an automatic expulsion from the AICPA.
A
Adverse judgment for:
- Felony
- Failure to file tax return
- Filing fraudulent tax return
- Aiding fraudulent tax return
