Author Question: Which of the following is a fundamental principle of NACVA's Professional Standards? A) Accept ... (Read 78 times)

mcmcdaniel · **on:** Jul 6, 2018

Which of the following is a fundamental principle of NACVA's Professional Standards?

A) Accept all assignments that can reasonably be completed within the time provided by clients.
B) Always do exactly what a client wants no matter what the circumstances.
C) Express an opinion with qualification that the member or a firm has financial interest or contemplated interest in the subject business.
D) Serve the client's interest by seeking to accomplish the objectives established with the client, while maintaining integrity and objectivity.

Question 2

As per the research conducted by Churyk and Clinton, significantly fewer colons in the management discussion and analysis section of annual reports are an indication of financial statement deception.

Indicate whether the statement is true or false

Jbrasil · **Reply #1 on:** Jul 6, 2018

Answer to Question 1

D
Explanation: D) Serving the client's interest by seeking to accomplish the objectives established with the client, while maintaining integrity and objectivity is the fundamental principle of client interest.

Answer to Question 2

TRUE
Explanation: Research conducted by Churyk and Clinton (2008 ) identified certain tells or communication characteristics in the context of the MD&A section of annual reports, related to financial statement deception. One such characteristic is significantly fewer colons.