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makvit [3.9K]
3 years ago
7

Jones, a consulting manager of Miller & Co., is considering membership on an audit client’s board of directors. Jones does n

ot provide any services to this client. Which statement describing this situation is correct under AICPA rules?
Business
2 answers:
sergey [27]3 years ago
7 0

<u>Under ACIPA rules, jones can not become the director of the company, as he is a member of the audit for that company.  </u>

Further Explanation:

AICPA:

The full form of AICPA is the American institute of certified public accountants. This is a body that provides the law and certificate to the chartered accountant. This association provides help to the company for maintaining the rules, regulation and procedures according to the company law.  

According to the AICPA rules, any professional firm is providing the services to the company, then the professional firm can not become the director of the company. The professional firm can not join the board of directors. If the professional firm wants to join the company as the board of directors, then the firm has to leave the professional work.  

The professional firm includes the all types of services. The professional firm includes taxation, chartered accountant, company secretary, consulting services and any other service which may help to run the company in a smooth manner.  

Therefore, if the jones wants to join the company as the board of directors. Then the jones has to resign from his current position of manager.  

Learn more:

1. Learn more about position in organization

<u>brainly.com/question/6449808 </u>

2. Learn more about moral values

<u>brainly.com/question/9724636 </u>

3. Learn more about depreciation expense

<u>brainly.com/question/11220357 </u>

Answer details:

Grade: Middle School

Subject: Business

Chapter: AICPA rules

Keywords:

Under ACIPA rules, jones can not become, the director, as he is a member, of the , audit company,American institute of certified public accountants rules, regulation and procedures.  

lord [1]3 years ago
5 0
<span>The AICPA rules would enforce that he is not allowed to join the board since he would be considered a firm professional. This would prevent a conflict of interest where he would serve as a director of a client. The AICPA is the American Institute of Certified Public Accountants.</span>
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