Management Consultancy 2015 Edition Chapter 5

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CHAPTER 5

MAS PRACTICE STANDARDS
AND ETHICAL CONSIDERATIONS

I. Questions

1. “Role” refers to the relationship of the CPA as a consultant to the client management and personnel. The basic role of the CPA in performing MAS is to provide advice and technical assistance to the client.

2. Practice standards are necessary in the consulting practice in order to promote the highest quality of performance of the practitioner.

3. Refer to page 71, par 2

4. Refer to page 71, par(s) 4 and 5

5. Refer to page 72, par 3

6. Refer to page 73, par 1

7. Refer to page 74, par(s) 2 to 4

8. Refer to page 75, par(s) 2 to 6

9. Refer to page 75, par 4

II. Multiple Choice Questions

|D |D | | |
|A |C | | |
|C |D | | |
|D |D | | |
|D | | | |

III. Cases

Case 1

Nondisclosure is not considered an acceptable alternative because it makes you an accessory to the fact. Disclosure to the offending party only - with no action - may result in the destruction of part of the evidence. Probably, the first step is to report the matter to the chairman of the board. Circumstances, however, may require that the matter be referred to an external body such as the Securities and Exchange Commission, Justice Department, Bureau of Internal Revenue, or the shareholders.

Case 2

The appropriate action depends on the type…...

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