AICPA ETHICS EXAM A, B & STUDY GUIDE LATEST UPDATE THIS YEAR COMPLETE 400+ QUESTIONS AND CORRECT DETAILED ANSWERS - JUST RELEASED
QUESTION 1: Which category contains the ethical standards,
a violation of which makes a member liable to disciplinary
action?
(a) Ethics Rulings.
(b) Interpretations of the Rules.
(c) Rules.
CORRECT ANSWER: (c) is the CORRECT ANSWER.
Code of Professional Conduct, Structure, says that infraction
of any of the rules makes a member liable to disciplinary
action. (a) is wrong since members who depart from the
guidance in ethical rulings in similar circumstances will be
asked to justify such departure. They cannot however be
charged with violating a ruling. (b) is also wrong since a
member cannot be charged with violating an interpretation. In
a disciplinary hearing where the member was charged with
violating a rule, the member would have the burden of
justifying any departure from interpretations of that rule.
QUESTION 2: The Trial Board may, after a hearing, do two
of the three things listed below. Mark the one that the Trial
Board cannot do.
(a) Suspend a member.
(b) Suspend the member's CPA certificate.
(c) Expel a member.
CORRECT ANSWER: (b) is the CORRECT ANSWER.
Code of Professional Conduct, Enforcement, says a Trial
Board may admonish, suspend or expel a member. The Trial
Board has no jurisdiction over a member's CPA certificate.
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