What are the specific threats to independence when a cpa accepts gifts or entertainment from an attest client? does it matter whether the amount of the gift or entertainment was significant?

Respuesta :

Specifically, the Committee concluded that the acceptance of a gift or entertainment by a member can result in a financial self-interest and undue influence threat to independence, as described in the Conceptual Framework for AICPA Independence Standards.

What is AICPA?

  • The American Institute of Certified Public Accountants( AICPA) is the public professional association of Certified Public Accountants( CPAs) in the United States, with further than, 000 members in 130 countries.
  • Founded in 1887 as the American Association of Public Accountants( AAPA), the association sets ethical morals and U.S. auditing morals.
  • It also develops and grades the Outfit CPA Examination.
  • The AICPA maintains services in New York City; Washington, DC; Durham, NC; and Ewing, NJ.

What is the primary part of AICPA?

  • The AICPA provides educational guidance paraphernalia; develops and grades the Outfit CPA Examination; and spectators and enforces compliance within the profession.
  • There are present, 000 laboriously certified CPAs around the globe.

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