Accounting Week 4 P1 Explore CPA

What are the two primary functions that a Certified Public Accountant (CPA) fulfills?

• Legal consultation and real estate management

• Assurance services and public accounting

• Marketing strategy and human resources

• Investment banking and corporate law

When attesting financial statements, what do CPAs primarily confirm regarding disclosures?

• Their aesthetic appeal

• Their historical accuracy

• Their reasonableness

• Their legal binding

In private sector roles such as CFO or finance manager, what are CPAs expected to possess?

• Advanced programming skills

• Full business knowledge

• Expertise in international trade law

• Proficiency in foreign languages

Why are CPAs required to maintain independence from an entity when conducting an attestation engagement?

• To ensure competitive pricing for their services.

• To comply with professional standards and laws.

• To gain a deeper understanding of the entity's operations.

• To avoid conflicts of interest with other clients.