ACC 544 Final Exam Answers 1) Which is NOT one of the AICPA’s Code of Professional Conduct principles? A. The public interest B. Integrity C. Quality control D. Scope and nature of services 2) The ethical philosophy that considers the consequences of similar persons acting under similar circumstances is called A. utilitarian principle. B. imperative principle. C. categorical imperative. D. generalization argument. 3) The fundamental issues in independence require that the auditor avoid A. financial connections with the client and financial connections with the client’s competitors. B. acting as management and representing the shareholder’s interests. C. responsibility for the client’s internal control and subordinating judgment concerning audit issues. D. financial connections with the firm and acting as management. 4) Auditors have greater liability under the Securities Act of 1933. Which is the reason that this greater liability exis