[Vagrant]

I know you don’t need to be independent to do taxes for the client, but on a Wiley SIM it was incorrect to do taxes for the client’s CEO. This is confusing. Anyone know exactly who auditors can and cannot do taxes for?

FAR - 65,84
AUD - 71,74,74
REG - 64
BEC - 74

[littlenumberrobot]

For public(issuer) CPA cannot do taxes for anyone high up in the client or their family. Otherwise, yes it would be okay for CPA to prepare client's business tax return. Don't have the details in front of me, others keep me honest you think otherwise.

CA CPA - All because of the journey listed below
-----------------------------------------------------------------------
FAR - 53('10), 8/25/12 79 PASSED!
REG - 66('11), 69('12), 12/06/12 77 PASSED!!
BEC - 58('10), 74('12), 01/05/13 77 PASSED!!!
AUD - 43('11), 66('12), 69('13), 74('13) 7/29/13 85 PASSED!!!!!

(Combinations of Roger, Yaeger, Wiley Book, Wiley TB, & NINJA Notes)

Ethics 90%

[acamp]

Auditor's should never do taxes for anyone, they're generally not very good at them ;D

Ninja + Wiley Test Bank: [FAR - 81] [REG - 76] [BEC - 88] [AUD - 73](doh!)

Becker Videos: [AUD - 82]

California CPA

[Anonymous]

Yes, preparing taxes while doing audit/examination and all other engagements under SAS, SSARs, SSAE, PCAOB & GAS impairs auditor's independence except for these 3 tax engagements that are allowed but required pre-approval by audit committee or TCG:

These 3 tax engagements are CAP (mnemonic)

1) Tax Compliance

2) Tax Advice

3) Tax Planning

The (NEVER-NEVER) [definitely prohibited] tax engagements are 4. They are ACIC mnemonic.

1) A – Aggressive Tax

2) C – Corporate Officers' Tax

3) I – Immediate family members of the corporate officers

4) C – Confidential Tax

Guys, please correct me if I'm wrong for the above information. These CAP & ACIC mnemonics were deeply ingrained in my memory bank. I forgot where to find/refer them so I can confirm if these are accurate now.

[Vagrant]

Yeah, clarification would help cause Roger didn't really go over this area too much. Not from what I remember anyway.

FAR - 65,84
AUD - 71,74,74
REG - 64
BEC - 74

[Author]

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