AICPA Ethics Rules CPA Exam

AICPA Ethics Rules & CPA Exam Questions With Complete Solutions Which of the following are not example of stakeholders?A.Employees

• Customers
• Suppliers
• Borrowers
• All above could be stakeholders - Correct Answers ✅E

According to the AICPA Code of Professional Conduct, Rule 101-Independence, an audit requires that an individual perform his or her services with integrity and objectivity.There must be reasonable assurance that this is being done during the Page 4 of 5 engagement. What must an accountant do to be in compliance with the generally accepted auditing standards?

• Be independent in fact.
• Be independent in appearance.
• Both.
• Neither - Correct Answers ✅C

To whom does the AICPA Code of Professional Conduct apply:

• Members in Public practice
• Members in Industry
• Members in Government 1 / 2

AICPA Ethics Rules & CPA Exam Questions With Complete Solutions

• Members in Education
• All of the above - Correct Answers ✅E

T/F: According to AICPA Code of Professional Conduct, a CPA

may receive a contingent fee for performing an audit of a financial statement? - Correct Answers ✅False

AICPA members should act in a way that will:

• Serve the public interest
• Honor the public trust
• Demonstrate commitment to professionalism
• All of the above
• None of the above. - Correct Answers ✅D

Regarding the fees of registered independent accounting

firms on a audit engagement the following is true:

• The firm may charge a client a commission based on

recovery received due to finding an issue on the financials.

• The firm may charge a flat fee for all work.
• The firm may charge a fee based on the number of errors

it find in the clients financials.

• The firm can receive commissions from third parties for

work performed on a client. - Correct Answers ✅B

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