Busy. Please wait.
Log in with Clever

show password
Forgot Password?

Don't have an account?  Sign up 
Sign up using Clever

Username is available taken
show password

Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account.
Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
Didn't know it?
click below
Knew it?
click below
Don't Know
Remaining cards (0)
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

3160 Ch 3 - Ethics

ethics a set of moral principles or values
ethical principles 1 trustworthiness 2 respect 3 responsibility 4 fairness 5 caring 6 citizenship
reasons a person may act unethical 1 the persons ethical standards differ from the societies 2 the person acts selfishly
ethical dilemma a situation in which a decision must be made about the appropriate behavior
ways the rationalize unethical behavior 1 everyone does it 2 if its legal its ethical 3 likelihood of discovery and consequences
steps to resolving ethical dilemmas 1 obtain facts 2 identify ethical issues from facts 3 determine who affected by outcomes and how is affected 4 identify alternatives available 5 identify the likely consequence of each alternative 6 decide on the appropriate action
principles ideal standards of ethical conduct in philosophical terms that are not enforceable
rules of conduct minimum standards of ethical conduct stated as specific rules that are enforceable
client the person engaged in the practice of public accounting for the performance of professional services
firm a partnership engaged in the practice of public accounting
member a member of the CICA or CGAAC
practice of public accounting representing oneself as a PA and at the same time performing for a client one or more types of services rendered by PA
independence impartiality in performing professional services
independence in fact the auditors ability to take an unbiased viewpoint in the performance of professional services
independence in appearance the auditors ability to maintain an unbiased viewpoint in the eyes of others
threats to independence 1 self interest threat 2 self review threat 3 advocacy threat 4 familiarity threat 5 intimidation threat
self interest threat member has financial interest in the client or in the financial results of the client
self review threat PA is in position of having to audit his own work during the period
advocacy threat member is perceived to promote the clients position
familiarity threat difficult to behave with professional skepticism during the engagement
intimidation threat the client intimidates the public accounting firm or its staff with respect to the content of the financial statements or with respect to the conduct of the audit
listed entity entity whose debts or shares are listed on a stock exchange and that has market capitalization and total assets > 10,000
independent threat analysis assessment of independence threats for a particular engagement
audit committee selected members of a clients board of directors who provide a forum for the auditors to remain independent of mgt
confidential client information that may not be disclosed without the specific consent of the client except under authoritative professional or legal investigation
Created by: markcanderson
Popular Accounting sets




Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!
"Know" box contains:
Time elapsed:
restart all cards