CPA Auditing and Attestation (AUD) : Ethics - AICPA
Study concepts, example questions & explanations for CPA Auditing and Attestation (AUD)
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Example Questions
Example Question #1 : Ethics & Professional Responsibility
The Concept of “due care” requires
None of the above
Best of ability
Perfection
Continual improvement
Best of ability
According to AU 230: The auditor’s responsibility to exercise due care: “Due professional care requires the auditor to exercise professional skepticism. The auditor uses the knowledge, skill, and ability called for by the profession of public accounting to diligently perform, in good faith and with integrity, the gathering and objective evaluation of evidence. Under these guidelines, none of the answers suffice.
Example Question #1 : Ethics & Professional Responsibility
“Responsibilities Principle” requires a member to:
uphold a client’s wishes
All of the above
maintain public confidence
Provide information to those requesting
maintain public confidence
Under the AICPA code of professional conduct, the responsibility principle refers to maintaining public trust.
Example Question #3 : Ethics Aicpa
Under the “Scope and nature of services principle; a member is required to:
offer services on request
monitor other members
be annually reviewed by the AICPA
maintain quality of control procedures
maintain quality of control procedures
Under the AICPA code of professional conduct, the “scope and nature of services” principle requires that practitioners work in firms that maintain appropriate quality control procedures.
Example Question #2 : Ethics & Professional Responsibility
An independent auditor must have which of the following?
Technical training that is adequate to meet the requirements of a professional
A background in many different disciplines
A pre-existing and well informed point of view with respect to the audit
Experience in taxation that is sufficient to comply with GAAS
Technical training that is adequate to meet the requirements of a professional
The General Standards Rule of the AICPA Code of Professional Conduct states that the auditor must have adequate technical training as an auditor.
Example Question #5 : Ethics Aicpa
A CPA who is not in public practice is obligated to follow which of the following rules of conduct?
Integrity and objectivity
Independence
Contingent fees
Commissions
Integrity and objectivity
A CPA must maintain objectivity and integrity in the performance of any professional service.
Example Question #6 : Ethics Aicpa
A member of the AICPA performing an audit, review, compilation, or other professional services must abide by:
Professional competence
PCAOB procedures
Strict audit procedures
All of the answer choices are correct
Professional competence
PCAOB procedures are to be obeyed for public company engagements. In addition to professional competence, there is due professional care, planning and supervision, and sufficient relevant data.
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