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Scope of Practice in Accountancy

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Questions and Answers

What is a key aspect of a certified public accountant's role?

Holding out oneself as skilled in accounting knowledge and science (correct)

Auditing financial transactions only

Preparing income tax returns for personal use

Designing accounting systems for non-profit organizations

What is one of the services that a certified public accountant may offer to clients?

Preparation of income tax returns for personal use

Designing accounting systems for non-profit organizations

Rendering professional assistance in legal matters

Preparation of reports of audit, balance sheet, and other financial statements (correct)

What is a certified public accountant's role in relation to government agencies?

Representing clients before government agencies on tax and other matters relating to accounting (correct)

Representing clients before government agencies on legal matters

Filing financial statements with government agencies on behalf of clients

Providing professional assistance in matters relating to legal procedures

What is one of the purposes of a certified public accountant's services?

Publication or filing with a court or government agency Signup and view all the answers

What is a key aspect of a certified public accountant's professional services?

Rendering professional assistance in matters relating to accounting procedures Signup and view all the answers

In what context does one require professional knowledge in the science of accounting?

When involved in decision-making in commerce and industry Signup and view all the answers

Who can teach business law and taxation subjects in an educational institution?

Members of the Integrated Bar of the Philippines Signup and view all the answers

In what type of organization does a person require a civil service eligibility as a certified public accountant?

Government-owned and/or controlled corporations Signup and view all the answers

What is a requirement for holding a position in an accounting professional group in government?

Professional knowledge in the science of accounting Signup and view all the answers

What type of subject is a certified public accountant likely to teach in an educational institution?

Financial management Signup and view all the answers