AICPA ETHICS EXAM ACTUAL QUESTIONS AND
CORRECT ANSWERS ALREADY GRADED A+
GUARANTEED SUCCESS
Scope and Nature of Services
1. Responsibilities
In carrying out your professional responsibilities, you should exercise sensitive
professional and moral judgment
2. The Public Interest
You should act in a way that will serve the public interest, honor the public trust,
and demonstrate your commitment to professionalism
3. Integrity
To maintain and broaden public confidence, you should perform all professional
responsibilities with the highest sense of integrity
4. Objectivity and Independence
You should maintain objectivity and be free of conflicts of interest in discharging
your professional duties. If you work for a public accounting firm that provides audit
and other attestation services, you should be independent in fact and in appearance.
5. Due Care
You 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 your ability
6. Scope and Nature of Services
As a member in public practice, you should observe the principles of the Code of
Professional Conduct in determining the scope and nature of services to be
performed
1
,-would you have done anything differently
Professional & Regulatory Bodies
set ethics standards and rules for members of the accounting profession
State CPA licensing boards
AICPA
SEC
PCABO
IFAC
IRS
GAO
DOL
others
State CPA Licensing Boards
issues CPA licesnes and oversee ethical conduct of jurisdiction
AICPA
American Institute of Certified Public Accountants
national professional organization for all CPAs; work with state CPA societies
-PEEC: Professional Ethics Executive Committee promulgates and enforces ethics
and independence rules that apply to all members
SEC
Securities and Exchange Commission
2
, federal agency
establishes and enforces accounting and auditing policies
PCAOB
Public Company Accounting Oversight Board
establishes auditing, attestation, quality control, ethics and independence standards
for public company auditors
IFAC
International Federation of Accountants
develop standards for auditing, education, ethics, and public sector financial
reporting in the accounting profession globally
promotes good ethical practices
IRS
Internal Revenue Service
government agency
authorizes the Secretary of the Treasury to set rules and regulations necessary to
enforce the UT tax laws
Treasury Dept Circular 230 governs federal tax practice before the IRS
IRS Office of Professional Responsibility (OPR) enforces these regulations
GAO
US Government Accountability Office
issues ethics and independence rules that apply to engagements performed under
GAGAS
3
CORRECT ANSWERS ALREADY GRADED A+
GUARANTEED SUCCESS
Scope and Nature of Services
1. Responsibilities
In carrying out your professional responsibilities, you should exercise sensitive
professional and moral judgment
2. The Public Interest
You should act in a way that will serve the public interest, honor the public trust,
and demonstrate your commitment to professionalism
3. Integrity
To maintain and broaden public confidence, you should perform all professional
responsibilities with the highest sense of integrity
4. Objectivity and Independence
You should maintain objectivity and be free of conflicts of interest in discharging
your professional duties. If you work for a public accounting firm that provides audit
and other attestation services, you should be independent in fact and in appearance.
5. Due Care
You 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 your ability
6. Scope and Nature of Services
As a member in public practice, you should observe the principles of the Code of
Professional Conduct in determining the scope and nature of services to be
performed
1
,-would you have done anything differently
Professional & Regulatory Bodies
set ethics standards and rules for members of the accounting profession
State CPA licensing boards
AICPA
SEC
PCABO
IFAC
IRS
GAO
DOL
others
State CPA Licensing Boards
issues CPA licesnes and oversee ethical conduct of jurisdiction
AICPA
American Institute of Certified Public Accountants
national professional organization for all CPAs; work with state CPA societies
-PEEC: Professional Ethics Executive Committee promulgates and enforces ethics
and independence rules that apply to all members
SEC
Securities and Exchange Commission
2
, federal agency
establishes and enforces accounting and auditing policies
PCAOB
Public Company Accounting Oversight Board
establishes auditing, attestation, quality control, ethics and independence standards
for public company auditors
IFAC
International Federation of Accountants
develop standards for auditing, education, ethics, and public sector financial
reporting in the accounting profession globally
promotes good ethical practices
IRS
Internal Revenue Service
government agency
authorizes the Secretary of the Treasury to set rules and regulations necessary to
enforce the UT tax laws
Treasury Dept Circular 230 governs federal tax practice before the IRS
IRS Office of Professional Responsibility (OPR) enforces these regulations
GAO
US Government Accountability Office
issues ethics and independence rules that apply to engagements performed under
GAGAS
3
