| Read 'Chapter 1: Ethics And Ethical Reasoning' & answer the following question(s): |
| 1. | Plato maintained that all “wrong-doing” is involuntary and arises from ignorance. |
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| 2. | Which of the following statements best explains why the accounting profession has found it essential to promulgate ethical standards and to establish means for ensuring their observance? |
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| Read 'Chapter 2: Ethical Reasoning and Accountants' & answer the following question(s): |
| 3. | The concept of materiality is least important to an auditor when considering the |
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| 4. | According to the profession's ethical standards, an auditor would be considered independent in which of the following instances? |
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| 5. | In which of the following circumstances would a CPA who audits XM Corporation lack independence? |
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| 6. | On June 1, 2004, a CPA obtained a $100,000 personal loan from a financial institution client for whom the CPA provided compilation services. The loan was fully secured and considered material to the CPA's net worth. The CPA paid the loan in full on December 31, 2004. On April 3, 2005, the client asked the CPA to audit the client's financial statements for the year ended December 31, 2005. Is the CPA considered independent with respect to the audit of the client's December 31, 2005, financial statements? |
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| 7. | According to the profession's ethical standards, which of the following events may justify a departure from a Statement of Financial Accounting Standards? New Evolution of a New Form Legislation of Business Transaction |
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| 8. | Which of the following actions by a CPA most likely violates the profession's ethical standards? |
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| 9. | According to the profession's ethical standards, an auditor would be considered independent in which of the following instances? |
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| 10. | Adams is the executive partner of Adams & Co., CPAs. One of its smaller clients is a large nonprofit charitable organization. The organization has asked Adams to be on its board of directors, which consists of a large number of the community's leaders. Membership on the board is honorary. Adams & Co. would be considered to be independent |
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| Read 'Chapter 3: Conclusions and Implications' & answer the following question(s): |
| Read 'Chapter 4: Definitions' & answer the following question(s): |
| Read 'Chapter 5: Culture, Motivation, Power, and Business Ethics' & answer the following question(s): |
| Read 'Chapter 6: AICPA’s Code of Professional Conduct' & answer the following question(s): |
| Read 'Chapter 7: Interpretations and Rulings' & answer the following question(s): |
| Read 'Chapter 8: Corporate Responsibility law (Sarbanes-Oxley act)' & answer the following question(s): |
| Read 'Chapter 9: Standards of Ethical Conduct for Practitioners' & answer the following question(s): |
| Read 'Chapter 10: Montana Ethics' & answer the following question(s): |
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