Ethics and Professional Conduct for Colorado CPAs CR&R. Course #4000N Exam Packet

Transcription

1 Ethics and Professional Conduct for Colorado CPAs CR&R Course #4000N Exam Packet

2 ETHICS AND PROFESSIONAL CONDUCT FOR COLORADO CPAS CR&R (COURSE #4000N) COURSE DESCRIPTION This course is designed to meet the specific ethics requirements for the state of Colorado. Uses the materials entitled Ethics and Professional Conduct for Colorado CPAs CR&R. No prerequisites. Course level: Basic. Course #4000N 2 CPE hours. LEARNING ASSIGNMENTS AND OBJECTIVES As a result of studying each assignment, you should be able to meet the objectives listed below each individual assignment. ASSIGNMENT SUBJECT 1 Introduction Chapter 1: Colorado Revised Statutes Chapter 2: The Board Rules Chapter 3: The Board Policies Study the course materials from I-1 to 3-15 Complete the review questions at the end of each chapter Answer the final exam questions 1 to 10 Objectives: To identify the various sources of Colorado regulations to solve ethical dilemmas To explain the functions of the Board of Accountancy Exam Page -1

3 ASSIGNMENT 2 Complete the Answer Sheet and Course Evaluation and mail to PES for credit NOTICE This course and test have been adapted from materials and information contained in materials entitled Ethics and Professional Conduct for Colorado CPAs CR&R and any supplemental material provided. This course is sold with the understanding that the publisher is not engaged in rendering legal, accounting, or other professional advice and assumes no liability whatsoever in connection with its use. Since laws are constantly changing, and are subject to differing interpretations, we urge you to do additional research and consult appropriate experts before relying on the information contained in this course to render professional advice. Professional Education Services, LP 2011 Program publication date 8/30/11 Exam Page -2

4 ETHICS AND PROFESSIONAL CONDUCT FOR COLORADO CPAS CR&R (COURSE #4000N) EXAM OUTLINE COURSE EXPIRATION DATE: Per AICPA and NASBA standards, this course must be completed within one year from the date of purchase. TEST FORMAT: The following final exam, consisting of 10 true/false and/or multiple choice questions, is based specifically on the material included in this course. The answer sheet must be completed and returned to PES for CPE certification. You will find the answer sheet at the back of this exam packet so that you may easily remove it and use it while taking your test. LICENSE RENEWAL INFORMATION: The Ethics and Professional Conduct for Colorado CPAs CR&R course (#4000N) qualifies for 2 CPE hours. PROCESSING: Your exam will be graded promptly. You must score 70% or better to pass. When you pass, your certificate of completion will be mailed. If you do not pass, we will give you a courtesy call to inform you of this and then another answer sheet will be sent to you free of charge. GRADING OPTIONS: Please choose only one of the following. There is no additional charge for any of these grading options. Make sure to fill out your answer sheet completely prior to submitting it. ONLINE GRADING Visit our website at Login to your account (if you are a first-time user you must set up a new user account). Go to the MY CPE tab and click the My CPE Exams in Progress folder. If your exam is not already located in this folder, click Add Exam Previously Purchased and follow the instructions. MAIL Your exam will be graded and your certificate of completion mailed to you the same day we receive it. Your certificate will be dated according to the postmark date; therefore, you do not need to overnight your exam. Please mail your answer sheet to: Professional Education Services, LP 4208 Douglas Blvd., Ste 50 Granite Bay, CA FAX Your exam will be graded and you will be contacted either via phone or fax with your results within 4 business hours of receipt. A copy of your graded exam and certificate of completion will be mailed to you the same day we receive it. Your certificate will be dated according to the fax date. If you choose to fax your exam, please do not mail it. Your fax will serve as the original. Please refer to the attached answer sheet for further instructions on fax grading. Fax number (916) Thank you for using Professional Education Services. We appreciate your business!! Exam Page -3

5 ETHICS AND PROFESSIONAL CONDUCT FOR COLORADO CPAS CR&R (COURSE #4000N) FINAL EXAM The following questions are either true or false and/or multiple choice. Please indicate your choice on the enclosed Answer Sheet. 1. A person who has not received a certificate of his qualifications to practice as a CPA may use which of the following titles: a) certified accountant b) chartered accountant c) public accountant d) none of the above 2. Which of the following is true regarding the registration of a partnership in the practice of public accounting as certified public accountants in Colorado: a) at least one partner working in Colorado must be a Colorado CPA b) all of the owners must be a CPA of some state c) all of the CPAs in the partnership must be licensed in Colorado d) a majority of the ownership must be CPAs licensed in Colorado 3. Inactive certificants: a) are not required to comply with the continuing education requirements b) must register once every two years with the Board in the same manner as active certificate holders c) cannot perform acts restricted to active certified public accountants d) all of the above 4. Generally, a certificant shall, at the request of the Board, respond to communications from the Board within of the mailing of any communication by registered or certified mail. a) 90 days b) 60 days c) 30 days d) 10 days 5. CPA certificates always remain the property of the Board. a) true b) false 6. As a condition of renewal of an active status certificate, each certificate holder must: a) complete 2 hours of CR&R courses during each reporting period b) complete at least 20 hours of acceptable continuing education each year during the reporting period c) complete at least 32 hours of ethics or CR&R courses during a reporting period d) complete 80 hours of acceptable continuing education during a reporting period 7. Which of the following is not an acceptable subject area for continuing education: a) behavioral ethics b) sales excellence c) taxes d) auditing 8. Which of the following would be considered a misrepresentation of fact or subordination of judgment as it relates to a certificate holder s integrity and objectivity: a) misrepresenting or failing to disclose material facts to an external or internal auditor, or accountant b) taking a position in a tax return that does not have a realistic possibility of being sustained on its merits in an administrative or judicial review unless the position is not frivolous and is adequately disclosed c) knowingly making, permitting, or directing another to make false and misleading entries in an entity s financial statements or records d) all of the above Exam Page -4

6 9. A Colorado certificate holder offering to perform professional services via the Internet must generally provide certain data on the Internet. Which of the following is not required to be disclosed on the Internet by a certificate holder offering services via the Internet: a) name of the CPA s professional liability insurance carrier b) principal place of business c) business telephone number d) Colorado certificate number and/or Colorado firm registration number 10. Information provided to the Board in a firm renewal application or notice of other changes in the firm required to be reported to the Board, will be deemed satisfaction of the firm s individual owners change of name, address, or status that is otherwise required to be reported. a) true b) false Congratulations you ve completed the exam! Exam Page -5

7 ETHICS AND PROFESSIONAL CONDUCT FOR COLORADO CPAS CR&R #4000N (2 CPE hours) ANSWER SHEET (8/11) Important Note: For certification, this answer sheet must be completed and submitted to PES for grading within one year from the date of purchase. Please use black ink and print for quicker processing thank you. Name (as it appears on your license) Address City State Zip Home Work Daytime Phone ( ) address (for online grading) License Number State Expiration Date CPA, CFP, EA (circle one) If course was ordered by another party, please indicate name here: GRADING OPTIONS Please choose only ONE of the following: ONLINE GRADING Visit our website at o Login to your account (if you are a first-time user, you must set up a new user account). o Go to the MY CPE tab and click the My CPE Exams in Progress folder. o If your exam is not already located in this folder, click Add Exam Previously Purchased and follow the instructions. Mail Mail your exam to: PES, 4208 Douglas Blvd., Ste 50, Granite Bay, CA Fax Fax your exam to (916) and choose one of the following options: Please: mail my results only or fax phone my results to: ( ) PLEASE INDICATE YOUR ANSWER BY FILLING IN THE APPROPRIATE CIRCLE A B C D A B C D 1. O O O O 6. O O O O 2. O O O O 7. O O O O 3. O O O O 8. O O O O 4. O O O O 9. O O O O 5. O O O O 10. O O O O Please complete the attached course evaluation your opinion is extremely valuable. Exam Page -6

8 Ethics and Professional Conduct for Colorado CPAs CR&R #4000N - Course Evaluation Rate on a scale of 1-10 with 1 being poor and 10 being excellent. 1. The course met the course objectives described in the promotional material. 2. The course was up to date, held my interest, was timely, and effective. 3. The course materials were understandable, valuable, and suitable for a correspondence course. 4. The amount of advance knowledge and stated prerequisites were appropriate. 5. The completion time was appropriate for the number of credits allowed. 6. The course met my professional education needs. Please answer the following questions mark/rate any and all that may apply 1. How would you rate PES s order desk customer service 2. What can PES do to keep you as a valued customer? 3. Any other comments regarding this course or our company would be appreciated. 4. What other courses/subjects would you like to see PES offer in the future? Mail to: Professional Education Services, LP 4208 Douglas Blvd., Ste 50, Granite Bay, CA Exam Page -7