A violation of the profession's ethical standards would most likely have occurred when a CPA:
A)purchased a bookkeeping firm's practice of monthly write-ups for a percentage of fees received over a three-year period.
B)made arrangements with a bank to collect notes issued by a client in payment of fees due.
C)named Smith formed a partnership with two other CPAs and used "Smith & Co." as the firm name.
D)issued an unqualified opinion on the 2011 financial statements when fees for the 2010 audit were unpaid.

Question

Quizplus · Accepted Answer

Issuing an unqualified opinion on financial statements when fees for the previous year's audit were unpaid could impair the auditor's independence, leading to a violation of the profession's ethical standards. Independence is crucial for auditors to maintain objectivity and integrity in their work.

A Violation of the Profession's Ethical Standards Would Most Likely