AICPA Final Exam – Accounting Standards & Auditing
Concepts – complete exam material
The Principles state that a member has responsibility to colleagues, to clients and to the profession. -
CORRECT ANSWER ✔✔(False)
Rules are the cornerstone of ethical behavior. - CORRECT ANSWER ✔✔(False)
In performing an attest engagement, a member should only rely on the AICPA rules of conduct regarding
independence. - CORRECT ANSWER ✔✔(False)
The principles apply the rules of conduct and interpretations to particular circumstances. - CORRECT
ANSWER ✔✔(False)
Professional services include all services performed by a member in private practice. - CORRECT
ANSWER ✔✔(False)
The code, interpretations and rulings are not designed to impact your behavior. - CORRECT ANSWER
✔✔(False)
Objectivity relates to an auditor's honesty, while integrity is the ability to be neutral during the conduct
of the engagement and the preparation of the auditor's report. - CORRECT ANSWER ✔✔(False)
Compliance with the Code of Professional Conduct depends primarily on public opinion and
reinforcement by one's peers. - CORRECT ANSWER ✔✔(False)
Interpretations are issued by the AICPA to better explain the code of professional conduct. - CORRECT
ANSWER ✔✔(True)
A code of ethics provides guidance for professional decision making - CORRECT ANSWER ✔✔(True)
, A code of ethics serves as an official public statement by a profession of ethical standards and
expectations of members. - CORRECT ANSWER ✔✔(True)
The Rules of Conduct does not extend to individuals who carry out tasks on behalf of an AICPA member.
- CORRECT ANSWER ✔✔(False)
The Principles in the Code of Professional Conduct are enforceable under their own terms - CORRECT
ANSWER ✔✔.(False)
AICPA members should accept the obligation to act in a way that will serve their self interest. - CORRECT
ANSWER ✔✔(False)
A member of the AICPA should observe the profession's technical and ethical standards, strive
continually to improve competence and the quality of services, and discharge professional responsibility
to the best of the member's ability. - CORRECT ANSWER ✔✔(True)
A distinguishing mark of a profession is the esteem with which it is held by the public. - CORRECT
ANSWER ✔✔(True)
All CPAs must observe the AICPA Rules of Professional Conduct. - CORRECT ANSWER ✔✔(False)
A member of the AICPA must observe all the Rules of Conduct. - CORRECT ANSWER ✔✔(False)
To maintain and broaden public confidence, members should perform all professional responsibilities
with the highest sense of integrity. - CORRECT ANSWER ✔✔(True)
According to the AICPA's Rules of Professional Conduct, the interests of clients and employees of AICPA
members are best served when the members fulfill their responsibility to the public. - CORRECT
ANSWER ✔✔(True)
Compliance with AICPA rules of conduct depends primarily on reinforcement by peers and public
opinion. - CORRECT ANSWER ✔✔(False)
Concepts – complete exam material
The Principles state that a member has responsibility to colleagues, to clients and to the profession. -
CORRECT ANSWER ✔✔(False)
Rules are the cornerstone of ethical behavior. - CORRECT ANSWER ✔✔(False)
In performing an attest engagement, a member should only rely on the AICPA rules of conduct regarding
independence. - CORRECT ANSWER ✔✔(False)
The principles apply the rules of conduct and interpretations to particular circumstances. - CORRECT
ANSWER ✔✔(False)
Professional services include all services performed by a member in private practice. - CORRECT
ANSWER ✔✔(False)
The code, interpretations and rulings are not designed to impact your behavior. - CORRECT ANSWER
✔✔(False)
Objectivity relates to an auditor's honesty, while integrity is the ability to be neutral during the conduct
of the engagement and the preparation of the auditor's report. - CORRECT ANSWER ✔✔(False)
Compliance with the Code of Professional Conduct depends primarily on public opinion and
reinforcement by one's peers. - CORRECT ANSWER ✔✔(False)
Interpretations are issued by the AICPA to better explain the code of professional conduct. - CORRECT
ANSWER ✔✔(True)
A code of ethics provides guidance for professional decision making - CORRECT ANSWER ✔✔(True)
, A code of ethics serves as an official public statement by a profession of ethical standards and
expectations of members. - CORRECT ANSWER ✔✔(True)
The Rules of Conduct does not extend to individuals who carry out tasks on behalf of an AICPA member.
- CORRECT ANSWER ✔✔(False)
The Principles in the Code of Professional Conduct are enforceable under their own terms - CORRECT
ANSWER ✔✔.(False)
AICPA members should accept the obligation to act in a way that will serve their self interest. - CORRECT
ANSWER ✔✔(False)
A member of the AICPA should observe the profession's technical and ethical standards, strive
continually to improve competence and the quality of services, and discharge professional responsibility
to the best of the member's ability. - CORRECT ANSWER ✔✔(True)
A distinguishing mark of a profession is the esteem with which it is held by the public. - CORRECT
ANSWER ✔✔(True)
All CPAs must observe the AICPA Rules of Professional Conduct. - CORRECT ANSWER ✔✔(False)
A member of the AICPA must observe all the Rules of Conduct. - CORRECT ANSWER ✔✔(False)
To maintain and broaden public confidence, members should perform all professional responsibilities
with the highest sense of integrity. - CORRECT ANSWER ✔✔(True)
According to the AICPA's Rules of Professional Conduct, the interests of clients and employees of AICPA
members are best served when the members fulfill their responsibility to the public. - CORRECT
ANSWER ✔✔(True)
Compliance with AICPA rules of conduct depends primarily on reinforcement by peers and public
opinion. - CORRECT ANSWER ✔✔(False)
