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information protection, and disclosure of business practices?
Question 17
A CPA in public practice is required to comply with the provisions
of the Statements on Standards for Attestation Engagements
(SSAE) when
Question 18
An accountant's report expressing an opinion on a nonissuer's
internal control over financial reporting should state that
Question 19
In a state jurisdiction having an accountant-client privilege statute,
to whom may a CPA turn over work papers without a client's
permission?
Question 20
Mell Corp. engaged Davis & Co., CPAs. to audit Mell's financial
statements. Mell's management informed Davis it suspected that the
accounts receivable were materially overstated. Although the
financial statements did include a materially overstated accounts
receivable balance, Davis issued an unqualified opinion.Mell relied
on the financial statements in deciding to obtain a loan from County
Bank to expand its operations. County relied on the financial
statements in making the loan to Mell. As a result of the overstated
accounts receivable balance, Mell has defaulted on the loan and has
incurred a substantial loss.
If County sues Davis for fraud, must Davis furnish County with the
audit working papers?
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