Question

Under AICPA rules, which statement best describes the period of the professional engagement as it applies ot a three-year engagement to audit a client's financial statements?
A.) It begins each year when fieldwork commences and ceases when fieldwork ends.
B.) It begins when the engagement letter is signed and ceases each year when the report is issued.
C.) It begins when fieldwork commences and ceases when the report is issued, recommencing when fieldwork begins again for the next period.
D.) It begins when the engagement letter is signed and continues until the report for the third year is issued unless the relationship is terminated sooner.

Answer 1

Answer:

D.) It begins when the engagement letter is signed and continues until the report for the third year is issued unless the relationship is terminated sooner

Explanation:

American Institute of Certified Public Accountant is the body that certifies  individual seeking to be Public Accountants in america. it marks and Public Accountant examination.

a deep dive into the question

Under AICPA rules, which statement best describes the period of the professional engagement as it applies to a three-year engagement to audit a client's financial statements?

D.) It begins when the engagement letter is signed and continues until the report for the third year is issued unless the relationship is terminated sooner

is the most appropriate

Answer 2

Answer:

The answer is: D) It begins when the engagement letter is signed and continues until the report for the third year is issued unless the relationship is terminated sooner.

Explanation:

The American Institute of Certified Public Accountants (AICPA) regulates its members' professional conduct. It has established that an accountant is engaged with a client form the moment it signs his o her contract until the contract is completed, or the employment relationship is terminated.