This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Which of the following statements best defines the rule of compliance as per AICPA's Code of ... (Read 98 times)

HudsonKB16

  • Hero Member
  • *****
  • Posts: 535
on: Jul 6, 2018
Which of the following statements best defines the rule of compliance as per AICPA's Code of Professional Conduct, ET Sec. 200, Rule 202?
 
  A) It requires a member to be honest and candid within the constraints of client confidentiality.
  B) It urges the members to adhere the standards promulgated by various professional bodies designated by Council.
  C) It precludes relationships that may appear to impair a member's objectivity in rendering various professional services.
  D) It induces members to disclose any confidential client information without the specific consent of the client.

Question 2

Use of bank statements to confirm components of financial statements and tax returns is an example of third-party data.
 
  Indicate whether the statement is true or false


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

SamMuagrove

  • Sr. Member
  • ****
  • Posts: 312
Reply #1 on: Jul 6, 2018
Answer to Question 1

B
Explanation: B) The rule of compliance urges the members to adhere the standards promulgated by various professional bodies designated by Council.

Answer to Question 2

TRUE
Explanation: Third-party data are obtained from entities that maintain records regarding the subject. For example, bank statements can be used to confirm components of financial statements and tax returns, such as cash balances, reported expenses, and loan payments.


HudsonKB16

  • Member
  • Posts: 535
Reply 2 on: Jul 6, 2018
Great answer, keep it coming :)

jojobee318

  • Member
  • Posts: 298
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Although the Roman numeral for the number 4 has always been taught to have been "IV," according to historians, the ancient Romans probably used "IIII" most of the time. This is partially backed up by the fact that early grandfather clocks displayed IIII for the number 4 instead of IV. Early clockmakers apparently thought that the IIII balanced out the VIII (used for the number 8) on the clock face and that it just looked better.

Did you know?

In 1864, the first barbiturate (barbituric acid) was synthesized.

Did you know?

Earwax has antimicrobial properties that reduce the viability of bacteria and fungus in the human ear.

Did you know?

There are approximately 3 million unintended pregnancies in the United States each year.

Did you know?

Chronic marijuana use can damage the white blood cells and reduce the immune system's ability to respond to disease by as much as 40%. Without a strong immune system, the body is vulnerable to all kinds of degenerative and infectious diseases.

Examples of Mission Statements Examples of Mission Statements
How to convert verbal statements into algebraic equations (Part 3) How to convert verbal statements into algebraic equations (Part 3)
How to use Cramer's rule to solve a second-order determinant (Question 1) How to use Cramer's rule to solve a second-order determinant (Question 1)
Are these the correct answers for finding the derivative using the power rule? Are these the correct answers for finding the derivative using the power rule?
Use the product rule to find derivative Use the product rule to find derivative
Use the product rule to find derivative Use the product rule to find derivative
Video: EpiPen Animation (Part 1)

For a complete list of videos, visit our video library