AUDITING+ASSURANCE 12MONTH ACCESS CARD
17th Edition
ISBN: 9780135635131
Author: ARENS
Publisher: WILEY
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Question
Chapter 1, Problem 25DQP
a.
To determine
Provide the educational criteria that are eligible for a person to attend CPA exam in state.
b.
To determine
Identify the work experience required in the state and also state whether it would a person with experience in accounting or internal auditor are qualified to become CPA.
c.
To determine
Provide a frequently asked question that is related to experience and education for the state.
d.
To determine
Explain the Elijah Watt Sells award.
e.
To determine
Provide the passing percentage for each section in CPA exam for the recent quarter.
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Students have asked these similar questions
List four circumstances where a CPA licensee from another state would require approval from the California board of Accountancy before practicing public accounting in California. In cases where prior approval is not necessary, what are the requirements for the out of state licensee to practice public accounting. Express your opinions on these requirements.
Under what circumstances is a CPA required to notify a client that a CPA is licensed by the California Board of Accountancy? What are the permissible means of making this notification? Why do you think this is a requirement?
Under what circumstances can a CPA be paid on a commission basis? Why do you think the regulation impose these restrictions?
Which section of the regulations require a CPA to comply with Generally Accepted Accounting Principles and Generally Accepted Auditing Standards? If compliance is required by other organizations (PCAOB, AICPA, etc.) why do you think this requirement is also included in the regulations?
If…
4. The Certified Public Accountant (CPA) exam is a uniform exam that is administered by a national organization. Licenses, however, are issued by individual states.
Explain why you think each state is responsible for issuing CPA licenses.
Choose two to three states, and compare and contrast the requirements to become a CPA. Are they fairly consistent or drastically different from each other? A helpful resource is https://www.thiswaytocpa.com/. You may also find it helpful to search the board of accountancy for each state.
Tax preparation is a large part of what many CPAs do. Students may be interested to know that a CPA (or any other licensing) is not required to prepare tax returns. Assume you know two friends who prepare tax returns for others, one is a CPA and one is not. Assume that both friends intend to move next year and will, therefore, prepare taxes in another state. Analyze this situation.
(Students should visit the SEC website, www.sec.gov, for supplemental resources.)
What is incorporation by reference?
Chapter 1 Solutions
AUDITING+ASSURANCE 12MONTH ACCESS CARD
Ch. 1 - What are the information and established criteria...Ch. 1 - Prob. 2RQCh. 1 - Discuss changes in accounting and business...Ch. 1 - Prob. 4RQCh. 1 - Identify the three main ways information risk can...Ch. 1 - Prob. 6RQCh. 1 - Prob. 7RQCh. 1 - Prob. 8RQCh. 1 - Prob. 9RQCh. 1 - Prob. 10RQ
Ch. 1 - Prob. 11RQCh. 1 - Prob. 12RQCh. 1 - Prob. 13.1MCQCh. 1 - Prob. 13.2MCQCh. 1 - Prob. 13.3MCQCh. 1 - Prob. 14.1MCQCh. 1 - Prob. 14.2MCQCh. 1 - Prob. 14.3MCQCh. 1 - Prob. 15.1MCQCh. 1 - Prob. 15.2MCQCh. 1 - Prob. 15.3MCQCh. 1 - Prob. 16DQPCh. 1 - Prob. 17DQPCh. 1 - Prob. 18DQPCh. 1 - Prob. 19DQPCh. 1 - Prob. 20DQPCh. 1 - Prob. 21DQPCh. 1 - Prob. 22DQPCh. 1 - Prob. 23DQPCh. 1 - As discussed in the chapter opening vignette and...Ch. 1 - Prob. 25DQP
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Similar questions
- Under what circumstances is a CPA required to notify a client that a CPA is licensed by the California Board of Accountancy? What are the permissible means of making this notification? Why do you think this is a requirement?arrow_forward(Students should visit the SEC website, www.sec.gov, for supplemental resources.) What is covered by Regulation S–K?arrow_forwardThe use of the Certified Public Accountant title is regulated by Select one a. the Securities and Exchange Commission D. the American Institute of Certiied Public Accountants through the licensing departments of the tax and auditing committees c. the federal government d. state law through a licensing department or agency of each statearrow_forward
- Provide a list and brief description of the items covered in the AICPA Code of Professional Conduct.arrow_forwardWhich of the following correctly identify the requirements for both legal and personal competence for a fiduciary? Must be a U.S. citizen Must meet a minimum age requirement as specified by state law Must be capable of analyzing a situation and making decisions Must be mentally competent as required by state lawarrow_forwardwhy you think each state is responsible for issuing CPA licenses.arrow_forward
- (Students should visit the SEC website, www.sec.gov, for supplemental resources.) When is a Form 8–K issued by a company? What specific information does a Form 8–K convey?arrow_forward(Students should visit the SEC website, www.sec.gov, for supplemental resources.) What are some of the major divisions and offices within the SEC?arrow_forward(Students should visit the SEC website, www.sec.gov, for supplemental resources.) Why is the content of a proxy statement considered to be so important?arrow_forward
- Write a literature review on the impact of covid-19 on accounting professions.arrow_forward(Students should visit the SEC website, www.sec.gov, for supplemental resources.) What is a wraparound filing?arrow_forward(Students should visit the SEC website, www.sec.gov, for supplemental resources.) What are the goals of the SEC?arrow_forward
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