🎯AICPA Independence Rules and Interpretations TF

Instructions on how to complete the quiz:

Click on “Start Quiz” to start.
“Check” to submit your answer and reveal the solution.
“Skip Question” to skip the question for now.
“Review” to mark question for review later.
“Feedback” to inquire about the question or provide us your feedback.
- Please make sure to reference the number of the question in your inquiry such as # 4
“Quiz Summary” to finish/submit the whole quiz

Not completed yet

Submit the full quiz to mark it complete.

Please log in to view your report card.

Responses

You must be logged in to post a comment.

Wilson Muzhuthettu 25 January 2025

Isn’t this false? If the CPA is an honorary director AND is participating in management, wouldn’t that impair the CPA’s independence?

Log in to Reply
1. Maroun, CPA 27 January 2025
  
  Hello Wilson,
  
  You are absolutely correct! I’ve updated the correct answer choice selection to “false” and updated the explanation to emphasize that the statement is false.
  Thank you for pointing this out!
  
  Log in to Reply
SONNY SINGH 12 March 2025

Q 6 – is not updated to False Answer, it still shows True. Thanks.

Log in to Reply
1. Maroun, CPA 15 March 2025
  
  Hello Sonny,
  
  You referred to question number 6 in your query.
  I’ve tried to answer it and the correct answer was indeed “FALSE” (Not all litigations between a CPA firm and its audit client will impair the firm’s independence.)
  Please let me know if you were referring to a different question.
  
  Log in to Reply
Davis Gibson 28 June 2025

It appears that Question 1 might be poorly worded. It asks if bookkeeping services have been prohibited, which they have not. Is it supposed to be taken as given that the relevant context is between auditors and audit clients?

Log in to Reply
1. Maroun, CPA 30 June 2025
  
  Hello Davis,
  
  Your observation is valid. The question wording wasn’t sufficiently clear. You’re correct: bookkeeping services are prohibited specifically in the context of auditors providing those services to their publicly held audit clients (per SEC rules and Sarbanes-Oxley Act).
  
  I’ve updated the question to clarify this context explicitly, making it clear that the prohibition applies specifically to audit clients.
  
  Thank you for pointing this out!
  
  Log in to Reply

AUD Gleim Audit Supplemental Course

WELCOME! PLEASE START HERE.

Participants 2355

🎯AICPA Independence Rules and Interpretations TF

Responses