Shared Flashcard Set

Details

Da Rulez
Auditing rules set by the AICPA
11
Accounting
Undergraduate 4
09/27/2011

Additional Accounting Flashcards

 


 

Cards

Term
101
Definition
independence

A member in public practice shall be independent whenever
Attest services are preformed
Financial statement audits
Financial statement reviews
Other attest services as defined in the statements on standards for Attestation Engagements
Term
102
Definition
integrity and objectivity


Don’t mess up the facts on purpose
No conflicts of interest, if you are a pro life, southern Baptist Christian, you shouldn’t audit planned parenthood
Term
210
Definition
General standards

Members shall comply with standards and with interpretations thereof by bodies designated by the council
Professional competence
Only let the people that you know are gonna work well work
Due professional care
Take pride in your work
Planning and supervision
What it says
Sufficient relevant data
Make it affordable, but don’t skip important things
Term
202
Definition
Compliance with standards

Follow da rulez
Term
203
Definition
Accounting principals

Don't say anything for certain
Don't say you can't guarantee anything either
Must be reasonable assurance
Term
301
Definition
Confidential client information

Members can not disclose information without consent
BUT CPAs can
Term
302
Definition
contingency fees


can't take extra money for finding things the company wants to them to find, it can impair independence
Term
501
Definition
don't do anything to discredit the profession
Term
502
Definition
advertising and other forms of solicitation


Don't lie in your advertising
Term
503
Definition
commission and referral fees


Can't take any if you are dealing with financial info; if you don't go against this rule, you have to disclose you are getting a referral fee
Term
505
Definition
form organization and name

don't lie in your name, pretty simple
Supporting users have an ad free experience!