It is currently very common that a CPA who is hired to audit a firm's finances will also be hired to help design a more efficient financial information system
Indicate whether the statement is true or false.
Answer: FALSE
Explanation: This is illegal under the Sarbanes-Oxley Act of 2002.
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The marketing managers of Havtol Inc., a food products company, want to choose the most effective advertisement for their latest product, Havtol Potato Chips
They create an online discussion site where a chosen group of customers can express their opinion, discuss among themselves, and improvise on the concept for their advertisement. In this scenario, Havtol Inc. uses__________to create an effective advertisement for their product. Fill in the blanks with correct word.
At a confidential meeting, a tax client informed a CPA about the client's illegal insider-trading actions. A year later, the CPA was subpoenaed to appear in federal court to testify in a criminal trial against the client. The CPA was asked to testify to the meeting between the CPA and the client. After receiving immunity, the CPA should do which of the following?
A. Assert the Fifth Amendment and not discuss the meeting. B. Cite the privileged communications aspect of being a CPA. C. Discuss the entire conversation, including illegal acts. D. Discuss only the items that have a direct connection to those items the CPA worked on for the client in the past.