CPA PART 1 - ETHICS, PROFESSIONAL RESPONSIBILITIES, AND GENERAL PRINCIPLES (15-25%) NEWEST 2026/2027 ACTUAL EXAM |COMPLETE 50 EXAM QUESTIONS AND DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) ALREADY GRADED A+

CPA PART 1 - ETHICS,
PROFESSIONAL RESPONSIBILITIES,
AND GENERAL PRINCIPLES (15-25%)
NEWEST 2026/2027 ACTUAL EXAM
|COMPLETE 50 EXAM QUESTIONS
AND DETAILED VERIFIED ANSWERS
(100% CORRECT ANSWERS)
ALREADY GRADED A+
1. Themstandardmcompilationmreportmincludesmwhichmstatementmormphrase?m-
mCORRECTmANSWERmThemobjectivemofmamcompilationmismtomassistmmanagementminmpresen


tingmfinancialminformationminmthemformmofmfinancialmstatements.



2. Whenmcommunicatingminternalmcontrolmrelatedmmattersmnotedminmanmaudit,manmauditor'sm
reportmissuedmonmsignificantmdeficienciesmshouldmindicatemthat:m-
mCORRECTmANSWERmthempurposemofmthemauditmwasmtomreportmonmthemfinancialmstatemen


tsmandmnotmtomprovidemassurancemonminternalmcontrol.



3. Whichmofmthemfollowingmstatementsmismcorrectmconcerningmanmauditor'smrequiredmcommu
nicationmwithmthosemchargedmwithmgovernance?m-
mCORRECTmANSWERmThismcommunicationmshouldmincludemmanagementmchangesminmthem


applicationmofmsignificantmaccountingmpolicies.



4. Whichmofmthemfollowingmismtrue?m-
mCORRECTmANSWERmAmreviewmismanmassurancemengagement,masmwellmasmanmattestmengag


ement.



5. ThemStatementsmonmQualitymControlmStandardsmrequiremappropriatemconsultation.mWhich
mofmthemfollowingmindividualsmwouldmleastmlikelymbemrecognizedmasmamqualifiedmspecialistmt


hatmanmauditmengagementmpartnermmaymconsultmonmsignificantmfinancialmstatementmaudit

, mmattersmofmamnonissuer?m-
mCORRECTmANSWERmAnminformationmtechnologymspecialistmonmpropermvaluationmofmamder


ivativemownedmbymanmemployeembenefitmplan



6. Whichmofmthemfollowingmstatementsmismcorrectmregardingmdisclosuremofmclientmworkingmpa
persmpreparedmbymamCPA?m-
mCORRECTmANSWERmWorkingmpapersmmaymnotmbemtransferredmtomanothermaccountantmwi


thoutmthemclient'smpermission.



7. Themwrittenmcommunicationmregardingmsignificantmdeficienciesmandmmaterialmweaknesses
midentifiedmduringmthemauditmshouldmincludemallmofmthemfollowingmexcept:m-


mCORRECTmANSWERmamparagraphmdescribingmmanagement'smassertionmconcerningmthemef


fectivenessmofminternalmcontrol.



8. Howmoftenmaremregisteredmpublicmaccountingmfirmsmthatmperformmmoremthanm100mannual
mauditsmofmissuersmrequiredmtombeminspectedmbymthemPublicmCompanymAccountingmOversig


htmBoardm(PCAOB)minmaccordancemwithmSectionm104mofmthemSarbanes-OxleymAct?m-
mCORRECTmANSWERmEverymyear




9. AccordingmtomthemSEC,mwhichmofmthemfollowingmbestmdescribesmamnonauditmservicemthat,m
whenmjointlymprovidedmwithmthemauditmofmanmissuer,mwouldmresultminmthemaccountant'smlos
smofmindependence?m-
mCORRECTmANSWERmPreparingmthemclient'smfootnotemdisclosuremofmsignificantmaccounting


mpolicies




10. ThemSecuritiesmActmofm1933:m-
mCORRECTmANSWERmismconcernedmwithmpreventingmfraudminmsecuritiesmsales.




11. ThemPublicmCompanymAccountingmOversightmBoardm(PCAOB)mmayminvestigatemanymactmorm
practicemthatmviolatesmanymprovisionmofmthemSarbanes-
OxleymActmbymwhichmofmthemfollowing?m-