ACC 333 Exam 4 Review

Federal laws make it illegal for employers to inquire about all of the following EXCEPT:

The duty of impartiality is most likely to arise when an accountant serves as the trustee of a

Accounting firms may be justified in probing into various business and personal affairs of employees

Under Dodd-Frank Whistleblower Program (SOX), employee-informant identity is protected

An Audit Committee is compromised of members of the Company's Board of Directors

A qui tam case can proceed to court if

The Reasonable Basis standard requires at least what chances of success?

An auditor that properly satisfies the Independence Rule will, with regard to an audit client, never be a fiduciary

Which of the following is NOT a motivation for whistleblowers?

Under the IRS Whistleblower Program, awards are granted only if potential recoveries exceed

If the taxpayer refuses to amend a prior year return for a material error, the tax return preparer is required to resign

A CPA acting as an executor of an estate owes a duty of loyalty to

Which of the following are indicators of a fiduciary relationship?

A lead partner on an audit client must rotate off the client

Once engagement is complete, tax practitioners are generally relieved of all further duties

In 2020, what was the average ratio of CEO pay to that of the typical worker?

The clawback provision of the Sarbanes-Oxley Act applies to

Giving your employer reasonable notice of your decision to leave the company is legally required

Which of the following roles CAN collect rewards under the Dodd-Frank Whistleblower Program?

SOX permits publicly traded companies to grant or arrange loans for directors and officers

The Worker Retraining and Notification Act

Which of the following traits is NOT legally protected from employer inquiry?

Type of trust that does not take effect until the grantor dies

A tax return preparer has the duty to verify all information provided by the client

The Substantial Authority standard requires at least what chances of success?

A CPA firm may never prepare the tax return for an audit client

The Statements of Standards on Tax Services (SSTS) govern:

The cooling off period applies to all of the following positions, except

If an accountant identifies an unintentional, material error on a prior tax return, they have a duty to

Which of the following is a reportable event under SOX?

Which of the following would likely be considered wrongful termination?

Original information must be provided to collect a reward under

Under IRS Whistleblower Program employee-informant is protected against retailiation

A CPA is most likely to be held to the standards of a fiduciary when he:

Which of the following is NOT a characteristic of a trade secret?

Under SOX, the use of a concurring partner on an audit engagement is

The use of estimates on a tax return should be prominently disclosed on the face of the tax return if

Which of the following is NOT a duty of a trustee?

When an employer creates a phony reason to punish a whistleblower, it is called