Overview

The newly updated fast-reference problem solver

The Complete CPA Desk Reference—the convenient, comprehensive reference professionals have relied on for nearly fifteen years—is now updated in a new Fifth Edition to give today's busy executives and accountants the helpful information they need in a quick-reference format. Packed with practical techniques and rules of thumb for solving day-to-day accounting issues, the new edition helps you quickly pinpoint what to look for, what ...

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The Complete CPA Reference

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Overview

The newly updated fast-reference problem solver

The Complete CPA Desk Reference—the convenient, comprehensive reference professionals have relied on for nearly fifteen years—is now updated in a new Fifth Edition to give today's busy executives and accountants the helpful information they need in a quick-reference format. Packed with practical techniques and rules of thumb for solving day-to-day accounting issues, the new edition helps you quickly pinpoint what to look for, what to watch out for, what to do, and how to do it. In an easy-to-use Q & A format, it covers such useful topics as IFRS standards, internal control over financial reporting financial measures, ratios, and procedures.

  • Includes complete coverage of the Risk Assessment Auditing Standards and Standards of the PCAOB
  • Incorporates Accounting Standards Codification (ASC) throughout the book
  • Adds new chapters on professional ethics and quality controls for CPA firms
  • Features a new section on International Financial Reporting Standards (IFRS)

Packed with checklists, samples, and worked-out solutions to a variety of accounting problems, this reliable reference tool is a powerful companion for the complex, ever-changing world of accounting.

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Product Details

  • ISBN-13: 9781118237618
  • Publisher: Wiley
  • Publication date: 1/10/2013
  • Sold by: Barnes & Noble
  • Format: eBook
  • Edition number: 5
  • Pages: 800
  • Sales rank: 673,694
  • File size: 8 MB

Meet the Author

Nick Dauber, MS, CPA, is the author of four books and has served as book reviewer for major book publishers and has had articles published in many professional accounting journals. He is Instructor of Auditing and Taxation at Queens College of the City University of New York and has been in professional practice for over twenty-five years.

Jae K. Shim, PHD, CPA, a prolific accounting and finance expert, has over fifty college and professional books to his credit. He is Professor of Accounting and Finance at California State University, Long Beach, and is CEO of Delta Consulting Company, a financial consulting and training firm.

Joel G. Siegel, PHD, CPA, is the author of over fifty books and has written hundreds of articles for accounting and financial journals. Siegel was a member of the audit staff of Coopers & Lybrand and has consulted many organizations, including IT&T, Citicorp, and Person-Wolinsky CPA Review. He is Professor of Accounting at Queens College of the City University of New York.

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Table of Contents

About the Authors xxi

Acknowledgments xxiii

Introduction xxv

PART I COMMONLY USED GENERALLY ACCEPTED ACCOUNTING PRINCIPLES

CHAPTER 1 Financial Statement Reporting: The Income Statement 3

Income Statement Format 4

Comprehensive Income 4

Extraordinary Items 5

Nonrecurring Items 6

Discontinued Operations 6

Revenue Recognition 8

Realization 9

At the Completion of Production 9

Requirements 9

During Production 9

Cash Basis 12

Recognition of Franchise Fee Revenue by the Franchisor 15

Other Revenue Considerations 18

Multiple Deliverables 18

Software Revenue Recognition 19

Research and Development Costs 20

Advertising Costs 23

Restructuring Charges 23

Other Expense Considerations 23

Earnings per Share 23

Diluted Earnings per Share 26

Antidilutive Securities 29

CHAPTER 2 Financial Statement Reporting: The Balance Sheet 33

Assets 33

Accounts Receivable 34

Inventory 36

Fixed Assets 41

Depreciation 42

Capitalized Interest 44

Nonmonetary Transactions 45

Impairment or Disposal of Long-Lived Assets 46

Involuntary Conversion 48

Asset Retirement Obligations 49

Disclosure 49

Intangibles 49

Financial Assets 54

Insurance 54

Liabilities 57

Bonds Payable 57

Extinguishment of Debt 62

Estimated Liabilities 65

Accounting for Compensated Absences 67

Accounting for Special Termination Benefits to Employees 68

Refinancing of Short-Term Debt to Long-Term Debt 68

Callable Obligations by the Creditor 69

Disclosure of Long-Term Purchase Obligations 70

Exit or Disposal Activities 70

Fair Value Measurements 71

Fair Value Option for Financial Assets and Financial Liabilities 73

Electing the Fair Value Option 74

Events 74

Instrument Application 74

Balance Sheet 75

Statement of Cash Flows 75

Disclosures 75

Eligible Items at Effective Date 76

Available-for-Sale and Held-to-Maturity Securities 77

Stockholders’ Equity 77

Preferred Stock 78

Stock Retirement 79

Appropriation of Retained Earnings (Reserve) 80

Treasury Stock 80

Cost Method 81

Par Value Method 81

Quasi-Reorganization 82

Dividends 84

Stock Split 86

Stock Options 86

Debt Issued with Stock Warrants 87

Fractional Share Warrants 88

Disclosure 89

CHAPTER 3 Financial Statement Reporting: Statement of Cash Flows and Other Disclosures 91

Statement of Cash Flows 91

Interim Reporting 103

Personal Financial Statements 107

Incorporation of a Business 110

Partnerships 110

Bonus Method 111

Goodwill Method 112

CHAPTER 4 Accounting and Disclosures 113

Hierarchy of GAAP 113

FASB Accounting Standards Codification 113

Accounting Changes 114

Change in Accounting Principle 115

Change in Accounting Estimate 118

Change in Reporting Entity 119

Correction of an Error 120

Prior-Period Adjustments 121

Disclosure of Accounting Policies 122

Development-Stage Companies 123

Troubled Debt Restructuring 124

Debtor 125

Creditor 126

Segmental Reporting 127

Imputing Interest on Notes 133

Accounting for Futures Contracts 135

Oil- and Gas-Producing Companies 138

CHAPTER 5 Key Financial Accounting Areas 139

Consolidations 139

Noncontrolling Interests in Consolidated Financial Statements 142

Business Combinations 143

Investments in Securities 148

Stock Investments 148

Market Value Adjusted 148

Equity Method 152

Leases 156

Lessee 157

Lessor 160

Sales-Leaseback Arrangement 167

Subleases and Similar Transactions 167

Leveraged Leases 168

Pension Plans 170

Defined Contribution Pension Plan 171

Defined Benefit Pension Plan 172

Trustee Reporting for a Defined Benefit Pension Plan 182

Balance Sheet 182

Other Postretirement Benefits 183

Income Tax Accounting 184

Temporary Differences 184

Permanent Differences 185

Financial Statement Presentation 185

Intraperiod Tax Allocation 185

Loss Carrybacks and Carryforwards 185

Deferred Tax Liability versus Deferred Tax Asset 186

Tax Rates 187

Indefinite Reversal 188

Foreign Currency Translation and Transactions 189

Translation Process 192

Balance Sheet 193

Income Statement 193

Translation Adjustments 193

Foreign Currency Transactions 194

Forward Exchange Contracts 197

Hedging 198

Derivative Products 198

Insurance Contracts 200

U.S. GAAP versus IFRS 200

Cash and Cash Equivalents 202

Receivables 202

Inventories 202

Investments 203

Equity-Method Investments 203

Property, Plant, and Equipment 203

Revaluations Involving Depreciable Assets 205

Intangible Assets and Goodwill 206

Contingent Liabilities 207

Defined Benefit Plans 207

Income Tax Deferrals 208

Lease Accounting 209

Equity 209

Revenue Recognition 210

Sale of Goods 210

Bill-and-Hold Transactions 211

Multiple-Element Arrangements 211

Long-Term Construction Contracts 212

Customer Loyalty Programs 212

Discontinued Operations 213

Share-Based Payment 213

Impairment 213

Intangible Impairment 214

Property, Plant, and Equipment Impairment 214

Earnings per Share 214

Subsequent Events 215

PART II ANALYZING FINANCIAL STATEMENTS

CHAPTER 6 Financial Statement Analysis 219

Introduction 219

Industry Comparison 220

Trend Analysis 221

Horizontal and Vertical Analysis 221

Balance Sheet Analysis 222

Assets 222

Cash 223

Accounts Receivable 223

Inventory 224

Investments 226

Fixed Assets 227

Intangibles 229

Deferred Charges 230

Unrecorded Assets 231

Liabilities 232

Evaluation of Liquidity 234

Appraising Corporate Solvency 236

Income Statement Analysis 239

Cash Flow from Operations 239

Discretionary Costs 240

Accounting Policies 242

Degree of Certainty in Accounting Estimates 243

Residual Income 244

Taxable Income 245

Foreign Operations 245

Discontinued Operations 245

Stability of Earnings 246

Operating Leverage 247

Profitability Measures 248

Growth Rate 248

Market Value Measures 248

Bankruptcy Prediction 249

Liquidation Value 251

PART III MANAGERIAL ACCOUNTING APPLICATIONS

CHAPTER 7 Appraising Segmental Performance 255

The What and Why of Responsibility Accounting 255

Cost Center 256

Profit Center 256

Investment Center 256

Cost Center Performance and Standard Costs 258

Materials Variances 259

Labor Variances 261

Variable Overhead Variances 261

Fixed Overhead Variances 264

Mix and Yield Variances 267

Flexible Budgets and Performance Reports 276

Profit Centers and Segmented Reporting 278

Profit Variance Analysis 281

Types of Standards in Profit Variance Analysis 281

Single-Product Firms 282

Multiproduct Firms 282

Managerial Planning and Decision Making 287

Sales Mix Analysis 288

Performance Reports 288

How to Measure the Performance of Investment Centers 288

Rate of Return on Investment 289

Residual Income 291

Residual Income and Economic Value Added 291

Investment Decisions under ROI and RI 292

More on Economic Value Added 293

EVA and Value Creation 295

Corporate Balanced Scorecard 295

How to Price Goods and Services Transferred 296

Alternative Transfer Pricing Schemes 297

Budgeting and Financial Planning 299

Computer-Based Budgeting 302

Case 1 302

Case 2 302

Budgeting Software 305

Budget Maestro 305

Microsoft Business Solutions for Analytics—Forecaster 305

Host Budget 306

SAP BusinessObjects Budgeting and Consolidation 307

Latest Generation of Budgeting and Planning Software 307

CHAPTER 8 Analysis of Projects, Proposals, and Special Situations 309

Cost–Volume–Profit and Breakeven Analysis 309

Contribution Margin 310

Target Income Volume and Margin of Safety 313

Sales Mix Analysis 318

Short-Term, Nonroutine Decisions 320

Theory of Constraints 327

Life-Cycle Costs and Target Costing 327

Activity-Based Costing 331

Cost of Measurement 334

Indirect Measures and the Degree of Correlation 334

Just-in-Time and Total Quality Management 334

Taguchi Method of Quality Control 338

Backflush Costing 339

Environmental Costs and Ecoefficiency 342

Time Value Fundamentals 346

Capital Budgeting 350

Payback Period 352

Accounting (Simple) Rate of Return 353

Net Present Value 354

Internal Rate of Return (or Time-Adjusted Rate of Return) 355

Profitability Index (or Excess Present Value Index) 358

Limited Funds for Capital Spending 360

Effects of Income Tax Factors on Capital Budgeting Decisions 361

MACRS Rule 363

CHAPTER 9 Quantitative Applications and Modeling in Accounting 369

Statistical Analysis and Evaluation 369

Mean 369

Standard Deviation 372

Regression Analysis 374

Method of Least Squares 374

Use of a Spreadsheet Program for Regression 376

Trend Analysis 378

Regression Statistics 380

Quantitative Methods for Accounting 386

Decision Making 387

Decision Making under Certainty 387

Decision Making under Uncertainty 388

Decision Matrix 390

Expected Value of Perfect Information 391

Decision Tree 392

Linear Programming and Shadow Prices 394

Shadow Prices (Opportunity Costs) 397

Goal Programming and Multiple Goals 398

Learning Curve 402

Inventory Planning and Control 404

Economic Order Quantity 405

Reorder Point 408

Safety Stock and Reorder Point 410

Program Evaluation and Review Technique 411

Project Budgeting and Control Using Earned Value Analysis 416

Forecasting Project Parameters Using Earned Value Methodology 420

Schedule Variance (SV) 420

Cost Variance (CV) 420

Schedule Performance Index (SPI) 420

Cost Performance Index (CPI) 420

Estimate at Completion (EAC) 421

PART IV AUDITING, COMPILING, AND REVIEWING FINANCIAL STATEMENTS

CHAPTER 10 Auditing Procedures 425

Risk Assessment Procedures 425

The Entity and Its Environment 426

Internal Control 426

Substantive Procedures 442

Audit Reports 451

Unqualified Opinion 453

Qualified Opinion 455

Disclaimer of Opinion 459

Adverse Opinion 460

CHAPTER 11 Compilation, Review, and Other Reporting Services 463

Compilation of Financial Statements 463

Review of Financial Statements 470

Accountant’s Consideration of Obtaining an Updating Representation Letter from Management 480

Documentation in a Review Engagement 481

Reports on Reviewed Financial Statements 481

Departures from the Applicable Financial Reporting Framework 484

Supplementary Information 484

Emphasis of a Matter 485

Restricting the Use of an Accountant’s Compilation or Review Report 485

Consideration of an Entity’s Ability to Continue as a Going Concern 486

Subsequent Events 486

Subsequent Discovery of Facts Existing at the Date of the Report 487

Change in Engagement from Audit or Review to Compilation 487

Reporting on Prescribed Forms 488

Communication between Successor and Predecessor Accountants 490

Compilation of Specified Elements, Accounts, or Items of a Financial Statement 490

Compilation of Pro Forma Financial Information 494

Communicating to Management and Others in a Compilation or Review Engagement 498

Reports on Prospective Financial Statements 499

Modification and Other Issues 506

Range of Values 506

Departure from AICPA Presentation Guidelines 506

Significant Assumption Does Not Provide Reasonable Basis 506

Scope Limitation 507

Emphasis of a Matter 507

Division of Responsibility 507

Agreed-Upon Procedures 507

Attest Engagements 511

Examination Engagements 512

Review Engagements 514

Engagements to Apply Agreed-Upon Procedures 517

Examination of an Entity’s Internal Control over Financial Reporting That Is Integrated with an Audit of Its Financial Statements (SSAE 15) 518

Integration with the Financial Statement Audit 534

Reporting on Controls at a Service Organization 546

Compliance Attestation 555

Management’s Discussion and Analysis 557

Personal Financial Statements Included in Written Personal Financial Plans 557

Reporting on Comparative Statements 559

Same Level of Service 562

Higher Level of Service 563

Guideline 563

Lower Level of Service 563

Special Reports 564

Specific Elements, Accounts, or Items in a Basic Set of Financial Statements 567

Compliance with Contracts or Regulations Relating to Audited Financial Statements 569

Financial Information Included in Prescribed Forms 571

CHAPTER 12 Auditing Standards 573

SAS 1—Codification of Auditing Standards and Procedures 573

SAS 2—Reports on Audited Financial Statements 574

SAS 3—The Effects of EDP on the Auditor’s Study and Evaluation of Internal Control 575

SAS 4—Quality Control Considerations for a Firm of Independent Auditors 575

SAS 5—The Meaning of “Present Fairly in Conformity with Generally Accepted Accounting Principles” in the Independent Auditor’s Report 575

SAS 6—Related Party Transactions 575

SAS 7—Communication between Predecessor and Successor Auditor 575

SAS 8—Other Information in Documents Containing Audited Financial Statements 575

SAS 9—The Effect of an Internal Audit Function on the Scope of the Independent Auditor’s Examination 575

SAS 10—Limited Review of Interim Financial Information 575

SAS 11—Using the Work of a Specialist 575

SAS 12—Inquiry of a Client’s Lawyer Concerning Litigation, Claims, and Assessments 576

SAS 13—Reports on a Limited Review of Interim Financial Information 578

SAS 14—Special Reports 578

SAS 15—Reports on Comparative Financial Statements 578

SAS 16—The Independent Auditor’s Responsibility for the Detection of Errors or Irregularities 578

SAS 17—Illegal Acts by Clients 578

SAS 18—Unaudited Replacement Cost Information 578

SAS 19—Client Representations 578

SAS 20—Required Communication of Material Weaknesses in Internal Accounting Control 579

SAS 21—Segment Information 579

SAS 22—Planning and Supervision 579

SAS 23—Analytical Review Procedures 579

SAS 24—Review of Interim Financial Information 579

SAS 25—The Relationship of Generally Accepted Auditing Standards to Quality Control Standards 579

SAS 26—Association with Financial Statements 580

SAS 27—Supplementary Information Required by the Financial Accounting Standards Board 580

SAS 28—Supplementary Information on the Effects of Changing Prices 580

SAS 29—Reporting on Information Accompanying the Basic Financial Statements in Auditor-Submitted Documents 580

SAS 30—Reporting on Internal Accounting Control 581

SAS 31—Evidential Matter 581

SAS 32—Adequacy of Disclosure in Financial Statements 581

SAS 33—Supplementary Oil and Gas Reserve Information 581

SAS 34—The Auditor’s Considerations When a Question Arises about an Entity’s Continued Existence 581

SAS 35—Special Reports: Applying Agreed-Upon Procedures to Specified Elements, Accounts, or Items of a Financial Statement 581

SAS 36—Review of Interim Financial Information 581

SAS 37—Filings under Federal Securities Statutes 582

SAS 38—Letters for Underwriters 582

SAS 39—Audit Sampling 582

SAS 40—Supplementary Mineral Reserve Information 583

SAS 41—Working Papers 583

SAS 42—Reporting on Condensed Financial Statements and Selected Financial Data 583

Condensed Financial Statements 583

Selected Financial Data 584

SAS 43—Omnibus Statement on Auditing Standards 585

SAS 44—Special-Purpose Reports on Internal Accounting Control at Service Organizations 585

SAS 45—Omnibus Statement on Auditing Standards—1983 585

Related Parties 585

SAS 46—Consideration of Omitted Procedures after the Report Date 586

SAS 47—Audit Risk and Materiality in Conducting an Audit 586

SAS 48—The Effects of Computer Processing on the Audit of Financial Statements 586

SAS 49—Letters for Underwriters 587

SAS 50—Reports on the Application of Accounting Principles 587

SAS 51—Reporting on Financial Statements Prepared for Use in Other Countries 589

SAS 52—Omnibus Statement on Auditing Standards—1987 590

SAS 53—The Auditor’s Responsibility to Detect and Report Errors and Irregularities 590

SAS 54—Illegal Acts by Clients 590

SAS 55—Consideration of Internal Control in a Financial Statement Audit 591

SAS 56—Analytical Procedures 591

SAS 57—Auditing Accounting Estimates 591

SAS 58—Reports on Audited Financial Statements 592

SAS 59—The Auditor’s Consideration of an Entity’s Ability to Continue as a Going Concern 592

SAS 60—Communication of Internal Control Related Matters Noted in an Audit 594

SAS 61—Communication with Audit Committees 594

SAS 62—Special Reports 594

SAS 63—Compliance Auditing Applicable to Governmental Entities and Other Recipients of Governmental Financial Assistance 594

SAS 64—Omnibus Statement on Auditing Standards 594

SAS 65—The Auditor’s Consideration of the Internal Audit Function in an Audit of Financial Statements 594

SAS 66—Communication of Matters about Interim Financial Information Filed or to Be Filed with Specified Regulatory Agencies 595

SAS 67—The Confirmation Process 595

SAS 68—Compliance Auditing Applicable to Governmental Entities and Other Recipients of Governmental Financial Assistance 597

SAS 69—The Meaning of Present Fairly in Conformity with Generally Accepted Accounting Principles in the Independent Auditor’s Report 597

SAS 70—Service Organizations 597

SAS 71—Interim Financial Information 598

SAS 72—Letters for Underwriters and Certain Other Requesting Parties 598

SAS 73—Using the Work of a Specialist 599

SAS 74—Compliance Auditing Considerations in Audits of Governmental Entities and Recipients of Governmental Financial Assistance 600

SAS 75—Engagements to Apply Agreed-Upon Procedures to Specified Elements, Accounts, or Items of a Financial Statement 600

SAS 76—Amendments to Statement on Auditing Standards No. 72, Letters for Underwriters and Certain Other Requesting Parties 600

SAS 77—Amendments to Statements on Auditing Standards No. 22, Planning and Supervision; No. 59, The Auditor’s Consideration of an Entity’s Ability to Continue as a Going Concern; and No. 62, Special Reports 600

SAS 78—Consideration of Internal Control in a Financial Statement Audit: An Amendment to SAS 55 600

SAS 79—Amendment to Statement on Auditing Standards No. 58, Reports on Audited Financial Statements 600

SAS 80—Amendment to Statement on Auditing Standards No. 31, Evidential Matter 601

SAS 81—Auditing Investments 601

SAS 82—Consideration of Fraud in a Financial Statement Audit 601

SAS 83—Establishing an Understanding with the Client 601

SAS 84—Communications between Predecessor and Successor Accountants 602

SAS 85—Management Representations 603

SAS 86—Amendment to Statement on Auditing Standards No. 72, Letters for Underwriters and Certain Other Requesting Parties 607

SAS 87—Restricting the Use of an Auditor’s Report 607

SAS 88—Service Organizations and Reporting on Consistency 608

SAS 89—Audit Adjustments 608

SAS 90—Audit Committee Communications 608

SAS 91—Federal GAAP Hierarchy 608

SAS 92—Auditing Derivative Instruments, Hedging Activities, and Investments in Securities 609

Existence or Occurrence 610

Completeness 610

Rights and Obligations 611

Valuation 611

Impairment Losses 612

SAS 93—Omnibus Statement on Auditing Standards—2000 614

SAS 94—The Effect of Information Technology on the Auditor’s Consideration of Internal Control in a Financial Statement Audit 614

SAS 95—Generally Accepted Auditing Standards 614

SAS 96—Audit Documentation 614

SAS 97—Amendment to Statement on Auditing Standards No. 50, Reports on the Application of Accounting Principles 614

SAS 98—Omnibus Statement on Auditing Standards—2002 614

SAS 99—Consideration of Fraud in a Financial Statement Audit 615

SAS 100—Interim Financial Information 623

SAS 101—Auditing Fair Value Measurements and Disclosures 623

SAS 102—Defining Professional Requirements in Statements on Auditing Standards 625

SAS 103—Audit Documentation 625

SAS 104—Amendment to SAS 1, Codification of Auditing Standards and Procedures (“Due Professional Care in the Performance of Work”) 629

SAS 105—Amendment to SAS 95—Generally Accepted Auditing Standards 629

SAS 106—Audit Evidence 630

SAS 107—Audit Risk and Materiality in Conducting an Audit 632

SAS 108—Planning and Supervision 634

SAS 109—Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement 636

SAS 110—Performing Audit Procedures in Response to Assessed Risks and Evaluating the Audit Evidence Obtained 637

SAS 111—Amendment to Statement on Auditing Standards No. 39, Audit Sampling 640

SAS 112—Communication of Internal Control–Related Matters Identified in an Audit 641

SAS 113—Omnibus 2006 641

SAS 114—The Auditor’s Communication with Those Charged with Governance 641

SAS 115—Communicating Internal Control Related Matters Identified in an Audit 642

SAS 116—Interim Financial Information 647

SAS 117—Compliance Audits 648

SAS 118—Other Information in Documents Containing Audited Financial Statements 648

SAS 119—Supplementary Information in Relation to the Financial Statements as a Whole 650

SAS 120—Required Supplementary Information 654

SAS 121—Revised Applicability of Statement on Auditing

Standards No. 100, Interim Financial Information 655

AS 1—References in Auditor’s Reports to the Standards of the Public Company Accounting Oversight Board 656

AS 2—An Audit of Internal Control over Financial Reporting Performed in Conjunction with an Audit of Financial Statements 656

AS 3—Audit Documentation 656

AS 4—Reporting on Whether a Previously Reported Material Weakness Continues to Exist 657

AS 5—An Audit of Internal Control over Financial Reporting That Is Integrated with an Audit of Financial Statements 662

Definitions 664

AS 6—Evaluating Consistency of Financial Statements 670

AS 7—Engagement Quality Review 671

AS 8—Audit Risk 672

AS 9—Audit Planning 673

AS 10—Supervision of the Audit Engagement 674

AS 11—Consideration of Materiality in Planning and Performing an Audit 675

AS 12—Identifying and Assessing Risks of Material Misstatements 677

AS 13—The Auditor’s Responses to the Risks of Material Misstatement 680

AS 14—Evaluating Audit Results 681

AS 15—Audit Evidence 682

CHAPTER 13 Sarbanes-Oxley Act of 2002 685

Auditor Independence 685

Partner Rotation 686

Public Company Accounting Oversight Board 686

PART V TAXATION

CHAPTER 14 Tax Research 691

Sources of Tax Law 691

The Court System 692

PART VI OTHER PROFESSIONAL STANDARDS

CHAPTER 15 Consulting Services 697

CHAPTER 16 Quality Control 699

CHAPTER 17 Code of Professional Conduct 703

Rule 101—Independence 703

Rule 102—Integrity and Objectivity 705

Rule 201—General Standards 705

Rule 202—Compliance with Standards 705

Rule 203—Accounting Principles 706

Rule 301—Confidential Client Information 706

Rule 302—Contingent Fees 706

Rule 501—Acts Discreditable 707

Rule 502—Advertising and Other Forms of Solicitations 707

Rule 503—Commissions and Referral Fees 707

Rule 505—Form of Organization and Name 707

Index 709

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