AICPA
How many rules are in the AICPA Code of Professional Conduct?
6
What does IMA stand for?
Institute of Management Accountants
Who is required to comply with PCAOB standards?
Registered public accounting firms
What does PIE stand for?
Public interest entity
What are the three sections of the code?
members in public, members not in public, and all other members
In what year was the IMA organized?
1919
Communication of fee-related information helps the public in assessing their judgments about ______.
Auditor's independence
The _____ principle is defined as keeping the best interest of the client in mind as services are performed with diligence and competence.
Due care
What are the 4 IMA standards?
A registered public accounting firm must describe in writing to the audit committee, in writing, all relationships that bear on independence when?
Prior to accepting an engagement
The IESBA sets its standards under the oversight of the _______.
Public Interest Oversight Board
A member would be considered in violation of _______ if the member cannot demonstrate that safeguards were applied that eliminated or reduced significant threats to an acceptable level.
Acts Discreditable Rule
Performing professional duties in accordance with relevant laws, regulations, and technical standards is defined in which IMA Standard?
Competence
Would independence be impaired if a member provides extensive advisory services under ET section 191?
No, independence would not be impaired
Determining whether an activity is a management responsibility depends on the circumstances and requires the exercise of ______.
Professional judgment
According to the AICPA Code of Professional Conduct, an individual in a position to influence an attest engagement is a what?
Covered member
Honesty, fairness, objectivity, and responsibility
Who is in charge of overseeing the accounting financial reporting process of the entity and audits of the financial statement if no audit committee exists?
Board of directors
Revisions of the Definitions of Listed Entity and Public Interest Entity in the Code under the IESBA will be in effect when?
on or after December 15, 2024