Term
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Definition
independence
A member in public practice shall be independent whenever
Attest services are preformed
Financial statement audits
Financial statement reviews
Other attest services as defined in the statements on standards for Attestation Engagements |
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Term
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Definition
integrity and objectivity
Don’t mess up the facts on purpose
No conflicts of interest, if you are a pro life, southern Baptist Christian, you shouldn’t audit planned parenthood |
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Term
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Definition
General standards
Members shall comply with standards and with interpretations thereof by bodies designated by the council
Professional competence
Only let the people that you know are gonna work well work
Due professional care
Take pride in your work
Planning and supervision
What it says
Sufficient relevant data
Make it affordable, but don’t skip important things |
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Term
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Definition
Compliance with standards
Follow da rulez |
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Term
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Definition
Accounting principals
Don't say anything for certain
Don't say you can't guarantee anything either
Must be reasonable assurance |
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Term
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Definition
Confidential client information
Members can not disclose information without consent
BUT CPAs can |
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Term
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Definition
contingency fees
can't take extra money for finding things the company wants to them to find, it can impair independence |
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Term
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Definition
| don't do anything to discredit the profession |
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Term
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Definition
advertising and other forms of solicitation
Don't lie in your advertising |
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Term
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Definition
commission and referral fees
Can't take any if you are dealing with financial info; if you don't go against this rule, you have to disclose you are getting a referral fee |
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Term
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Definition
form organization and name
don't lie in your name, pretty simple |
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