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Author Question: Seven consulting service standards are contained in Statement on Standards for Consulting Services ... (Read 152 times)

LCritchfi

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on: Jul 6, 2018
Seven consulting service standards are contained in Statement on Standards for Consulting Services No. 1, including the four general standards provided by Rule 201 of the AICPA's Rules of Professional Conduct.
 
  Briefly explain the other three standards.
  What will be an ideal response?

Question 2

The ___________ are the totals of each side of a T account that is normally recorded in small, pencil-written figures.
 a. balances
  b. footings
  c. figures
  d. estimates


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Eunice618

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Reply #1 on: Jul 6, 2018
Answer to Question 1

 Client interest: Requires the member to serve the client while maintaining integrity and objectivity. As previously discussed, integrity requires a member to be honest and candid within the constraints of client confidentiality, while objectivity requires the member to be impartial, intellectually honest, and free of conflicts of interest.
 Understanding with the client: Requires an understanding with the client (written or oral) about each party's respective responsibilities and the nature, scope, and limitations of the engagement.
 Communication with the client: Requires the member to inform the client of conflicts of interest, significant reservations regarding the scope and benefits of the engagement, and significant findings.

Answer to Question 2

B


LCritchfi

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Reply #2 on: Jul 6, 2018
Correct answers!


Eunice618

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Reply #3 on: Jul 6, 2018
Great! Please up vote :D


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