Question

Violating an AICPA or IRS rule may result in which consequence? Suspension of AICPA membership or the ability to practice before the IRS. Imposition of a monetary penalty by the IRS. Publication of an admonishment by the American Institute of Certified Public Accountants. All of the above.

Answer 1

All of the above

Step-by-step explanation:

The type of consequences imposed to the violation of the rule will be depended on the severity of the violation.

- If the violation is not to severe, the violators would most likely only receive Publication of an admonishment by the American Institute of Certified Public Accountants. In this case, the American Institute of Certified Public Accountants will publicly let the public know about the violators, but this does not lead to the suspension of the violators.

- If the violation is severe, Suspension and monetary penalty would most likely be imposed by AICPA and IRS.

They wanted to set such violators as an example so other members would be discouraged to conduct another violation.