Choose the answer that fails to explain how high ethical standards protect a tax preparer. Providing a quality product that helps them increase client retention. Minimizing the risk of being subject to preparer penalties. Showing integrity in the return preparation process. Eliminating the need for preparer due diligence notes.

Many companies request that their auditors provide them with other services, such as tax or consultancy, as well as the external audit. Discuss the arguments for and against auditors providing non-audit services.

True or false: the new revenue recognition standard is aimed at a few industries and will not affect most companies

In teaching about moral development, instructors often point out the threefold nature of morality: It depends on emotional development (in the form of the ability to feel guilt or shame), social development (manifested by the recognition of the group and the importance of moral behavior for the group’s existence), and cognitive development (especially the ability to adopt another’s perspective). How does this perspective of morality relate to ethical reasoning by accountants and auditors?

In Alberta, lawyers must follow the Law Society of Alberta's Code of Conduct (the "Code"). The Code sets out what is expected of a lawyer both ethically and professionally. Using your legal research skills, find the applicable section of the Code that deals with "Marketing Professional Services" and identify which of the following statements is NOT given as an example of a marketing practice that would likely contravene the code. Select one: a. Raising expectations unjustifiably. b. Using testimonials that do not contain emotional appeals. c. Suggesting or implying the lawyer is aggressive. d. Suggesting qualitative superiority to other lawyers.

Listed below are selected Rules of Conduct and ethical problems. Match the rule with the problem to which it applies. (One Rule of Conduct may apply to more than one ethical problem.) Rules A. Independence B. Integrity and objectivity C. General standards D. Compliance with standards E. Accounting principles F. Contingent fees G. Acts discreditable H. Advertising and other forms of solicitation I. Commissions and referral fees J. Form or practice and name Rules An audit client owes the CPA past-due audit fees. The auditors fail to qualify their opinion on financial statements that do not properly apply FASB standards. A CPA who is the controller for a company knowingly issues misleading financial statements. A CPA performs tax services that the CPA is not competent to perform. A sole practitioner practices in a partnership name. A member violates rules issued by the Accounting and Review Services Committee. A CPA robs a service station. A CPA accepts a percentage of the client's loan…

What are some reasons why the accountants should be involved in the process of developing and reviewing the bill of materials? What would be some risks of not having them involved?