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earnstyle [38]
3 years ago
14

Upon discovering fraudulent data in a client’s tax return that the client would not correct, a CPA withdraws from the engagement

. How should the CPA respond if asked by the successor CPA why the relationship was terminated?
Business
2 answers:
ExtremeBDS [4]3 years ago
7 0

Answer:

Even though a client cannot force CPA to engage in illegal activities, like any other employer cannot force an employee to commit a crime, there exists a -accountant-client privilege that cannot be violated. This means that the accountant cannot disclose any information regarding past clients unless ordered by a court or authorized by the client himself/herself.

So, before discussing any previous events, the successor CPA must obtain the client's permission to discuss any events related to the previous relationship.

Allushta [10]3 years ago
3 0

Answer:

I would suggest that the client requests permission for us to discuss all matters on a platter.

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3 years ago
Identify which of the following statements are true for the corporate form of organization. (You may select more than one answer
Likurg_2 [28]

Answer:

a) Ownership rights cannot be easily transferred. - True

b) Ownership rights cannot be easily transferred.  - False

c) Owners have unlimited liability for corporate debts.  - False

d) Capital is more easily accumulated than with most other forms of organization.  - True

e) Corporate income that is distributed to shareholders is usually taxed twice.  - True

f) It is a separate legal entity. It has a limited life.  - False

g) Owners are not agents of the corporation. - True

Explanation:

A corporation is an organization established by the issuance (and purchase) of shares. It is identified as a separate legal entity from the owners and the liabilities of the owners is limited to the amount invested (in form of shares or stock). Ownership rights can easily be transferred through various means. One of such means is the sale of shares or stock in the secondary market.

The company pays company income tax on income earned while the shareholders (owners) also paid tax on dividend income. It has an unlimited life and is expected to continue to perpetuity.

The board of directors, managers of the company are the agents of the corporation acting on behalf of the owners.

5 0
3 years ago
Carrvour Inc. is a company that manufactures steel, cement, cars, and consumer electronics under a single brand. The top managem
CaHeK987 [17]

Answer:

D) Corporate strategy

Explanation:

Corporate strategy is an strategic plan used to define the vision and direction of an organization, its goals and how they will be achieved. Is defined by highest manager hierarchically.

I hope you find this information useful and interesting! Good luck!

6 0
4 years ago
What is the importance of clay in human life
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Explanation:

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qaws [65]

Answer:

d. Shopping

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Based on the scenario being described within the question it can be said that this flight is an example of a shopping product. This term refers to a product that consumers purchase very rarely, and because of this choose to compare prices between all the available options in the market because they do not know what a regular price range actually is for that product.

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