Question

A former client of charlie hayes, cpa, filed a lawsuit in state court alleging that charlie failed to exercise due care in the performance of tax and compilation services performed in 2011. charlie firmly believes that he performed his services with competence and diligence. in his defense, he plans to admit to making one minor error which he says was inadvertent and did not have a material effect on the client's taxes or financial position. in light of his admission, has charlie complied with the aicpa code's standard of due care and why?

Answer 1

Yes because the AICPA standard for due care does not require CPAs to be infallible. Since the definition of infallible means incapable of making a mistake. Which this is not necessarily true. CPAs are capable of making mistakes and as long as they performed their work with professional due care then they cannot be held accountable for mistakes that may have happened. 

Answer 2

Yes because the fact that the AICPA standard for due consideration does not expect CPAs to be reliable.  

Further Explanation:  

CPA:  

Guaranteed Public Accountant (CPA) is the title of qualified bookkeepers in various nations in the English-talking world. In the United States, the CPA is a permit to give bookkeeping administrations to general society. It is granted by every one of the 50 states for training in that state.  

AICPA:  

The AICPA (American Institute of Certified Public Accountants) is the affiliation that creates and scores the Uniform Certified Public Accountants assessment. People looking to fit the bill for open bookkeeper accreditation in the United States are required to breeze through the CPA Examination.  

Job of AICPA:  

The American Institute of Certified Public Accountants assumes a key job in guaranteeing that bookkeeping experts are held to the most elevated guidelines. To guarantee part accomplishment in all angles, AICPA gives assets to enable individuals to acquire qualifications and ace the aptitudes that would enable them to succeed.  

Employment of CPA:

They are well-regarded key business guides and chiefs. They go about as specialists on numerous issues, including charges and bookkeeping. A CPA, or Certified Public Accountant, is a confided in money related consultant who helps people, organizations, and different associations plan and arrive at their monetary objectives.

Subject: business

Level: college

Keywords: CPA, AICPA, Job of AICPA, Employment of CPA.  

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