Document Software - Aicpa Online For Free

Threats to compliance with the fundamental principles AND independence are: Self-Interest | Self-Review | Advocacy | Familiarity | Intimidation.

The rules of auditor independence vary by jurisdiction but generally include the following: Prohibition of Non-Audit Services: Auditors are generally restricted from providing non-audit services to the clients, such as tax services, consulting, or management functions, to avoid conflicts of interest.

Although a compilation is not an assurance engagement, it is an attest engagement.

The AICPA Audit Risk Assessment Tool is designed to walk an experienced auditor through the risk assessment procedures and document those decisions necessary to prepare an effective and efficient audit program.

There are six principles of the AICPA Code of Professional Conduct. They include responsibilities, public interest, due care, integrity, objectivity and independence, and scope and nature of services.

AICPA's Statements on Standards for Tax Services (SSTSs) are enforceable tax practice standards for members of the AICPA. These standards apply to all members regardless of the jurisdictions in which they practice and the types of taxes with respect to which they are providing services.

(vi) Management functions. Acting, temporarily or permanently, as a director, officer, or employee of an audit client, or performing any decision-making, supervisory, or ongoing monitoring function for the audit client.

AICPA rules state that an accountant's independence will be impaired if the accountant: makes investment decisions on behalf of audit clients or otherwise has discretionary authority over an audit client's investments. executes a transaction to buy or sell an audit client's investment.