Term
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Definition
| a set of moral principles or values |
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Term
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Definition
| a situation or person faces in which a decision must be made about the appropriate behavior. |
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Term
| AICPA Code of Professional Conduct |
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Definition
| provides both general standards of ideal conduct and specific enforceable rule of conduct. |
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Term
| 4 parts of the Code of Professional conduct |
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Definition
| Principles, rules of conduct, interpretations of the rules of conduct, ethical rulings |
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Term
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Definition
| ideal standards of ethical conduct stated in philosophical terms. They are not enforceable |
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Term
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Definition
| minimum standards of ethical conduct stated as specific rules. They are enforceable |
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Term
| Interpretations of the rules of conduct |
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Definition
| interpretations of the rules of conduct by the AICPA division of professional ethics. they are not enforceable, but a practitioner must justify departure |
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Term
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Definition
| Responsibilities, the public interest, integrity, objectivity and independence, due care, scope and nature of services |
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Term
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Definition
| reflects the auditors state of mind that permits the audit to be performed with an unbiased attitude. reflects a long-standing requirement that member be independent in fact. |
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Term
| Independence in appearance |
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Definition
| result of other's interpretations of this independence. |
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Term
| Prohibited Nonaudit Services |
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Definition
| bookkeeping and other accounting services, financial information systems design and implementation, appraisal or valuation services, actuarial services, internal audit outsourcing, management or human resource functions, broker or dealer or investment adviser or investment banker services, legal and expert services unrelated to the audit, any other service that the PCAOB determines by regulation is impermissible |
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Term
| Prohibited Nonaudit Services |
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Definition
| bookkeeping and other accounting services, financial information systems design and implementation, appraisal or valuation services, actuarial services, internal audit outsourcing, management or human resource functions, broker or dealer or investment adviser or investment banker services, legal and expert services unrelated to the audit, any other service that the PCAOB determines by regulation is impermissible |
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Term
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Definition
| 1. individuals on the attest engagement team. 2. An individual in a position to influence the attest engagement, such as individuals who supervise or evalute the engagement partner 3. a partner or manager who provides nonattest services to the client 4. a partner in the office of the partner responsible for the attest engagement 5. the firm and its employee benefit plans 6. an entity that can be controlled by any of the covered members listed above or by two or more of the covered individuals or entities operating together |
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Term
| direct financial interest |
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Definition
| the ownership of stock or other equity shares and debt securities by members or their immediate family |
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Term
| indirect financial interest |
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Definition
| there is a close, but not a direct, ownership relationship between the auditor and the client. |
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