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When a member of the AICPA prepares a taxpayer's federal incometax return, the member...

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Question

Accounting

When a member of the AICPA prepares a taxpayer's federal incometax return, the member has the responsibility to

A. be an advocate for the entity's position

B. Verify the data to be used in preparing the return.

C. Take a position of independent neutrality

D. Argue the position of the Internal Revenue Service

The correct answer is A

THIS QUESTION ILLUSTRATES THAT THE ROLE OF A TAXACCOUNTANT IS VERY DIFFERENT

THAN THAT OF AN INDEPENDENT AUDITOR. DISCUSS HOW THE TWODIFFERENT IN THE FOUR DIMENSIONS OF THE FOUR ANSWERS.

Answer & Explanation Solved by verified expert
3.7 Ratings (278 Votes)
Tax auditor conducts his audit and procedures which are relevent as per Tax Laws of country only when Revenue crosses threshhold limits and excluding compositesmall dealers While on the other hand statutory auditor conducts the audit and provides an opinion on true and fair view of financial    See Answer
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In: AccountingWhen a member of the AICPA prepares a taxpayer's federal incometax return, the member has...When a member of the AICPA prepares a taxpayer's federal incometax return, the member has the responsibility toA. be an advocate for the entity's positionB. Verify the data to be used in preparing the return.C. Take a position of independent neutralityD. Argue the position of the Internal Revenue ServiceThe correct answer is ATHIS QUESTION ILLUSTRATES THAT THE ROLE OF A TAXACCOUNTANT IS VERY DIFFERENTTHAN THAT OF AN INDEPENDENT AUDITOR. DISCUSS HOW THE TWODIFFERENT IN THE FOUR DIMENSIONS OF THE FOUR ANSWERS.

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