Can't do that
Moral Meltdown
More Rules
What to disclose
Acronyms
100
A form of communication that can't be done in a manner that is false, misleading, or deceptive.
What is Advertising and Solicitation?
100
unreasonable and unrealistic obsession with meeting quantative goals
What is Pressure to Maintain Numbers?
100
Should not misrepresent facts by making, or permitting or directing others to make materially false and misleading entries in an entity's financial statement or records.
What is Integrity and Objective?
100
Explains CPAs responsibilities to their clients and the tax system in which they practice
What is Statement on Standards for Tax Services?
100
association dedicated to enhancing the effectivenes of the country's 55 state boards of accountancy
What is NASBA - National Association of State Boards of Accountancy?
200
Client provided records in the custory or control of the CPA should be returned to the client at the client's requist.
What is Acts Discreditable - client books and records, CPA workpapers?
200
Received a $425,000 donation to his favorite charity from HealtSouth just prior to going on the board
What is Conflict of interest overlooked or unaddressed?
200
Obligates CPAs to follow professional standands including SSTS.
What is Compliance with Professional Standards?
200
Standard is satisfied if the position is reasonably based on one or more authorities, taking into account the relevance and persuasiveness of those authorities.
What is reasonable basis?
200
facilitates the movement of CPAs from state to state
What is UAA Uniform Accountancy Act?
300
A CPA who receives, expects or agrees to receive, pays, expects to pay other compensation in exchange for servies or products must disclose to the client in writing the nature, source and amount of compensation.
What is Commissions and Referral Fees?
300
Kill the Messenger Syndrome
What is Fear of Reprisals?
300
Could compromise the CPA's professional judgment or could it be effectively mitigated or eliminated.
What is Independence?
300
Involves no economic risk and were designed solely to minimize taxes
What is Tax Shelters?
300
oversees the audits of public companies to protect interest of investors.
What is PCAOB - Public Company Accounting Oversight Board?
400
Failure to follow standards in audits, Failure to file tax returns or pay tax liability
What is Acts Discreditable - negligence in preparation of financial statements or records?
400
young'uns and a bigger-than-life CEO
What is Loyalty to the Boss?
400
To perform services competently, accurately and completely
What is Professional Competence and Due Care?
400
An objective standard and is satisfied if the weight of the authorities supporting the position is substantial compared to the weight of authorities supporting a contrary treatment.
What is Substantial Authority?
400
a joint intiative of five private organizations that provide leadership on organizational governance, business ethics, internal control….
What is COSO - Commission of Sponsoring Organizations (Treadway Commission)
500
Must contain the name corporation, professional corporation, LLP or Prof. LLP or professional LLC.
What is Form of Organization and Name?
500
characterizes virtually all companies with major accounting frauds in early part of 2000s
What is Weak board of directors?
500
State of mind that permits the performance of an attest service without being affected by influences.
What is Independence?
500
standard is generally sastified if there is approximately a one in three likelihood that the position will be upheld on it merits if it is challenged.
What is realistic possibility of success?
500
enforceable tax practice standards for members of the AICPA
What is SSTS - Statement of Standards for Tax Services?
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