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Good CPAs
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CPA Requirements
CPA Regulators
Chapters 18 & 21
100

A certified public accountant will not express this if he or she is aware that an individual in the firm is not independent and that the individual is a covered certified public accountant or is otherwise required to be independent.

What is an opinion? [61H1-21.001]

100
A candidate who has not received credit for all sections within the time frame allotted.

What is a re-examination candidate? [61H1-28.0011(b)]

100
The number of hours of work experience currently required for CPA applicants.

What is 2,000 hours? [61H1-27.0041]

100
This is who appoints members to the Board of Accountancy.

Who is the governor (of Florida)? [473.303(1)]

100
A legal structure all Big Six auditors used as of 1994 to protect partners' personal assets

What is a Limited Liability Partnership (LLP)? [Chapter 21]

200
Offering to perform or performing for the public one or more types of services involving the expression of an opinion on financial statements

What is “Practicing public accountancy” or “public accounting” or Practice of public accounting/ancy” [473.302(8)(a)]

200
Payment rendered in exchange for a particular finding, whether for public accounting or tax filings.

What are contingent fees? [473.319]

200
A three-month period in which candidates have an opportunity to take the CPA Examination

What is an examination window? [61H1-28.0011(2)]

200
This is the length of time CPA members on the Board of Accountancy must have practiced public accounting.

What is 5 years? [473.303(1)]

200
Auditors' liability to third parties under common law hinges on a legal concept called this

What is privity of contract? [Chapter 18]

300

The number of hours of CPE credit required every 2 years.

What is 80? [61H1-33.003(1)(a)]

300
The maximum fine the Board can impose.

What is $5,000 [61H1-36.004]

300
Number of additional CPE hours required if the education requirement is not met by December 31st

What are 16 hours? [61H1-33.003(b)]

300
The Board of Accountancy membership includes this many CPAs and this many non-CPAs

What are 7 CPAs and 2 non-CPAs? [473.303(1)]

300
Under the Securities Act of 1933, investors must prove these two things in order to win a lawsuit against an auditor.
What are that they suffered damages and that the audited financial statements contain a material misstatement or omission.
400

Each Florida certified public accountant shall commence his/her reestablishment period for continuing education on the date indicated on his/her Florida certificate, and the period will end on this year and date following the *initial* date indicated on the certification.

What is the third June 30th following the initial designation? [61H1-33.001(2)]

400
The minimum penalty for knowingly making or filing a false report.

What is a reprimand and (one year) probation? [61H1-36.004(d)]

400
A requirement for licensure meaning a personal history of honesty, fairness, and respect for the rights of others and for the laws of this state and nation

What is good moral character? [473-308(6)(a)]

400
In the context of Chapter 473 of the Florida Statutes, this is the full name of the term "Department"

What is the Department of Business and Professional Regulation (DBPR) [473.302(2)]

400
According to Chapter 18, these two legal innovations that gained popularity during the 1970’s changed the risk/return calculus of suing accounting firms.
What are contingency fees and class action lawsuits?
500
A separate document accompanying all assembled financial statements that is issued after those financial statements are free from obvious, material errors.

What is a transmittal letter? [61H1-20.0053(4) and (5)]

500
Three of the four general standards for competence.

What are 1) Professional competence, 2) Due professional care, 3) Planning and supervision, and 4) sufficient relevant data [61H1-22.001]

500
CPE requirements include: (1) at least this many hours in accounting and auditing subjects and (2) no more than this many hours in behavioral subjects (name both)

What are 20 and 20? [61H1-33.003(1)(a)]

500
At least one member of the Board must be this age

What is 60? [473.303(1)]

500
Two of the three "flaws" in the tort liability system named by the white paper discussed in Chapter 21
What are 1) the doctrine of joint and several liability, 2) the fact that victorious defendants couldn’t recover legal costs, and 3) the unfairness of punitive damages.