An Example of a Self-Review Threat for CPAs in Business

question 27

Multiple Choice

An example of a self-review threat for CPAs in business is:

• A) Serving as both the CFO of a company and member of its audit committee
• B) Owning stock in the company the CPA works for
• C) Internal auditor accepts work she previously performed in a different position
• D) Serving as both the CFO of a company and member of the board of directors

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Definitions:

Utilitarian Case

An argument based on the principle that the best action is the one that maximizes overall happiness or minimizes overall suffering.

Voluntary Euthanasia

Euthanasia conducted with the consent of the patient.

Solid Human Organs

Internal body organs that are solid in structure, such as the heart, liver, and kidneys, often considered for transplant in medical procedures.

Illegal

Activities or actions that are forbidden by law or statute and subject to criminal penalties or sanctions.