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Match Each Term Below with Its Definition as Provided by the AICPA

Question 73

Matching

Match each term below with its definition as provided by the AICPA Rules of Conduct.

Premises:

Responses:

Partner

Examples include financial statement audits, reviews, and examinations of prospective financial information

Professional services

Any person or entity, other than the member's employer, that engages a member or a member's firm to perform professional services

Practice of public accounting

Any action initiated by a member that informs others of his or her status as a CPA or AICPA-accredited specialist

Client

A proprietor, part owner, or any individual who assumes the risks and benefits of firm ownership or who is otherwise held out by the firm to be the equivalent of any of the aforementioned

Attest engagement

The performance for a client by a member or a member's firm while holding out as CPA(s) of the professional services of accounting, tax, personal financial planning, litigation support services, and those professional services for which standards are promulgated by bodies designated by Council

Holding out

All services performed by member while holding out as a CPA

Premises:

Partner

Professional services

Practice of public accounting

Client

Attest engagement

Holding out

Responses:

Examples include financial statement audits, reviews, and examinations of prospective financial information

Any person or entity, other than the member's employer, that engages a member or a member's firm to perform professional services

Any action initiated by a member that informs others of his or her status as a CPA or AICPA-accredited specialist

A proprietor, part owner, or any individual who assumes the risks and benefits of firm ownership or who is otherwise held out by the firm to be the equivalent of any of the aforementioned

All services performed by member while holding out as a CPA

Correct Answer:

Premises:

Responses:

Partner

Professional services

Practice of public accounting

Client

Attest engagement

Holding out

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