A CPA's Standard Report on Audited Financial Statements Would Be

question 586

Multiple Choice

A CPA's standard report on audited financial statements would be inappropriate if it referred to:

• A) Management's responsibility for the financial statements.
• B) An assessment of the entity's accounting principles.
• C) Significant estimates made by management.
• D) The CPA's assessment of sampling risk factors.

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Definitions:

APA Ethics Code

A set of guidelines developed by the American Psychological Association to ensure ethical conduct in psychological research and practice.

Integrity

The quality of being honest and having strong moral principles; moral uprightness.

Beneficence

A principle in ethics that refers to the act of doing good or providing benefits to others.

Confidentiality

The ethical and often legal duty to protect personal information from unauthorized disclosure.