Unit V Power Point Risk Assessment Compliance The purpose of the PowerPoint presentation is to correlate compliance with applicable laws to the risk management scope. This is important in mitigating the strategies in the risk management plan. From the list below, select one of the laws/compliance for your PowerPoint presentation: Health Insurance Portability and Accountability […]
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Explain how an engagement letter might affect an auditor’s liability to clients under common law.
REVIEW QUESTIONS 5-1 (OBJECTIVE 5-1) Lawsuits against CPA firms continue to increase. State your opinion of the positive and negative effects of the increased litigation on CPAs and on society. 5-2 (OBJECTIVE 5-2) Distinguish between audit risk and audit failure. Why is there at least some level of audit risk on every audit engagement? 5-3 […]
Explain the importance of ethical conduct for the accounting profession.
PROFESSIONAL ETHICS After studying this chapter, you should be able to 4-1 Distinguish ethical from unethical behavior in personal and professional contexts. 4-2 Resolve ethical dilemmas using an ethical framework. 4-3 Explain the importance of ethical conduct for the accounting profession. 4-4 Describe the purpose and content of the AICPA Code of Professional Conduct. 4-5 […]
