Author Question: How is A Guide for Complying with Rules 102-505 (2008) useful in making and acting on informed ... (Read 71 times)

mckennatimberlake · **on:** Jul 6, 2018

How is A Guide for Complying with Rules 102-505 (2008) useful in making and acting on informed ethical decisions? Briefly explain the threats and safeguard approach described in A Guide for Complying with Rules 102-505 (2008).

What will be an ideal response?

Question 2

A ______________ means that the digits of a number have been switched around.
a. slide
b. matching error
c. transposition
d. none of the answers listed

Madisongo23 · **Reply #1 on:** Jul 6, 2018

Answer to Question 1

A Guide for Complying with Rules 102-505 (2008) provides an approach, known as the threats and safeguard approach, for evaluating situations and circumstances not explicitly addressed in the AICPA Professional Code of Conduct or its interpretations and rulings.
The threats and safeguard approach is a three-step process, including:
. identifying threats to compliance with the Code
. evaluating the significance of any threats identified, and
. determining whether safeguards are available to eliminate the threats or reduce them to an acceptable level.

Answer to Question 2

C