Term
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Definition
| BoD committee that oversees the independent and internal auditors. must be independent directors |
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Term
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Definition
| parent, sibling, nondepedent child |
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Term
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Definition
| (a)individual on attest engagement team (b)person in a position influence the attest engagement (c)partner/manager who provides non attest services to client (d)parter in the main attest office (e) |
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Term
| Direct financial interest |
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Definition
| personal investment under direct control of investor. |
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Term
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Definition
| spouse, spousal equiv, dependent |
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Term
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Definition
| 2 components: of mind and of appearance |
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Term
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Definition
| state of mind that permits performance of attest service without any conflict. Can exercise objectivity and professional skepticism |
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Term
| Independence of appearance |
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Definition
| Avoidance of circumstances that would cause a reasonable informed 3rd party to conclude that the integrity, objectivity or professional skepticism of auditor is compromised |
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Term
| Indirect Financial Interest |
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Definition
| specific financial decisions are not under direct control of the investor |
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Term
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Definition
| Guidelines issued by the AICPA for the scope and application of the Rules of Conduct |
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Term
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Definition
| the AICPA code of Professional Conduct. Provides a framework for the Rules |
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Term
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Definition
| A group of enforceable ethical stds included in the AICPA Code of Professional Conduct |
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Term
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Definition
| ability of an investor to exercise signif influence ober an entity >20% interest |
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