Occurs when, by virtue of a close relationship, a professional accountant becomes too sympathetic to the client’s interests.

Occurs as a result of the financial and other interests of a professional accountant or of an immediate or close family member

Occurs when a professional judgment needs to be re-evaluated by the professional accountant responsible for that judgment

In their fiduciary role, the professional accountant owe their primary loyalty to:

Which of the following is a distinguishing mark of the accountancy profession?

A professional accountant should comply with relevant laws and regulations and should avoid any action that discredits the profession. This is a fundamental principle of:

Which of the following is not one of the fundamental principles of ethical conduct for professional accountants?

Which fundamental principle is seriously threatened by an engagement that is compensated based on the net proceeds on loans received by the client from a commercial bank?

“A professional accountant should be straight-forward and honest in all his professional and business relationships.” This description appropriately describes the fundamental principles of:

Which of the following fundamental principles is compromised when a professional accountant is associated with reports or returns that are significantly misleading?

If a professional accountant is billing an audit client a number of hours greater than those actually worked, which of the following fundamental principles is likely violated?

The requirement of which principle is of particular importance in an assurance engagement in ensuring that the conclusion of the professional accountant has value to the intended user?

A professional accountant is auditing Maiden Company and providing consulting services to Widow Company. Both clients are in the same industry. If the professional accountant uses specific information from Maiden’s audit to prepare a business plan for Widow, he will be violating the principle of:

What kind of threat to noncompliance to fundamental principles is created if the professional fees due from a financial statement audit client remain unpaid for a long time?

If the firm is involved in the preparation of accounting records or financial statements and those financial statements are subsequently the subject matter of an audit engagement of the firm, this will most likely create

A director, an officer or an employee of the assurance client in a position to exert direct and significant influence over the subject matter of the assurance engagement has been a member of the assurance team or partner of the firm. This situation least likely create

A former officer, director or employee of the assurance client serves as a member of the assurance team. This situation will least likely create

A CPA-lawyer, acting as a legal counsel to one of his audit client, is an example of

A professional accountant has been the partner-in-charge of a particular audit client for the past eight years. This situation could result to the following threat to professional independence:

If the firm performs a simultaneous services of auditing the client’s financial statements and bookkeeping services, the CPA may potentially face a

There are fundamental principles that the professional accountants has to observe when performing assurance engagements. The requirement of which principle is of particular importance in an assurance engagement in ensuring that the conclusion of the professional accountant has value to the intended user?