Accounting Ethics AICPA Ethics Code Latest
Update 2025-2026 Actual Exam 65 Questions
with 100% Verified Correct Answers Guaranteed
A+ Verified by Professor
6 pillars of the aicpa code - CORRECT ANSWER: 1) responsibilities
2) public interest
3) integrity
4) objectivity and independence
5) due care
6) scope and nature of services
acceptable level - CORRECT ANSWER: the level at which reasonable and informed
third party who is aware of relevant information would conclude your compliance with
the rules
acts discreditable to the profession - CORRECT ANSWER: these are acts that could
harm the good name or reputation of the accounting profession
-ex: illegal acts like theft of funds or insider trading obviously come under this heading
adverse interest threat - CORRECT ANSWER: threat that you will not act with objectivity
because your interest are opposed to your clients intersts
aicpa - CORRECT ANSWER: this is a national professional org for CPAs, providing
resources and information to members and coordinate activities with state cpa societies
aicpa conceptual framework for independence - CORRECT ANSWER: this framework is
used to set independence standards and to resolve cases where an issue is not
specifically addressed
, attest client - CORRECT ANSWER: an entity whose financial statements or other
information is being audited, reviewed, or attested to (giving an opinion)
attest services - CORRECT ANSWER: cpa's expression of an opinion (qualified or
unqualified) or some other form of assurance that the information being reported on is
free of material misstatement
client provided records - CORRECT ANSWER: records belonging to the client or
provided to the cpa by or on behalf of the client
should return these upon request even if there state allows a lien on the client records
client records that you prepared - CORRECT ANSWER: a tax return that you prepared
or general ledgers (that the cpa was engaged to perform)
should return these upon request BUT these can be withheld if the engagement is
incomplete or the cpa is owed fees for his work
conceptual framework - CORRECT ANSWER: code's interpretations provide guidelines
and requirements for complying with the rules in many situations a member may
encounter (practical app of the code)
confidential client information - CORRECT ANSWER: client investments in research and
development
tax information
information on profit margins in a private company
these are examples of what?
confidential client information - CORRECT ANSWER: includes any information obtained
from the client not available to the public (from public sources)
Update 2025-2026 Actual Exam 65 Questions
with 100% Verified Correct Answers Guaranteed
A+ Verified by Professor
6 pillars of the aicpa code - CORRECT ANSWER: 1) responsibilities
2) public interest
3) integrity
4) objectivity and independence
5) due care
6) scope and nature of services
acceptable level - CORRECT ANSWER: the level at which reasonable and informed
third party who is aware of relevant information would conclude your compliance with
the rules
acts discreditable to the profession - CORRECT ANSWER: these are acts that could
harm the good name or reputation of the accounting profession
-ex: illegal acts like theft of funds or insider trading obviously come under this heading
adverse interest threat - CORRECT ANSWER: threat that you will not act with objectivity
because your interest are opposed to your clients intersts
aicpa - CORRECT ANSWER: this is a national professional org for CPAs, providing
resources and information to members and coordinate activities with state cpa societies
aicpa conceptual framework for independence - CORRECT ANSWER: this framework is
used to set independence standards and to resolve cases where an issue is not
specifically addressed
, attest client - CORRECT ANSWER: an entity whose financial statements or other
information is being audited, reviewed, or attested to (giving an opinion)
attest services - CORRECT ANSWER: cpa's expression of an opinion (qualified or
unqualified) or some other form of assurance that the information being reported on is
free of material misstatement
client provided records - CORRECT ANSWER: records belonging to the client or
provided to the cpa by or on behalf of the client
should return these upon request even if there state allows a lien on the client records
client records that you prepared - CORRECT ANSWER: a tax return that you prepared
or general ledgers (that the cpa was engaged to perform)
should return these upon request BUT these can be withheld if the engagement is
incomplete or the cpa is owed fees for his work
conceptual framework - CORRECT ANSWER: code's interpretations provide guidelines
and requirements for complying with the rules in many situations a member may
encounter (practical app of the code)
confidential client information - CORRECT ANSWER: client investments in research and
development
tax information
information on profit margins in a private company
these are examples of what?
confidential client information - CORRECT ANSWER: includes any information obtained
from the client not available to the public (from public sources)
