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Management Advisory Services aims to provide advice and assistance to help clients improve their capabilities and resources. An MAS practitioner working for an audit client cannot assume a management role to maintain objectivity. Both general and technical standards apply to MAS engagements and consultations, and an understanding with the client should determine the nature, scope, and limitations of services. Practitioners must maintain competence and objectivity, and should not guarantee results from an MAS engagement.

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Abi Pi
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155 views1 page

TRue or False

Management Advisory Services aims to provide advice and assistance to help clients improve their capabilities and resources. An MAS practitioner working for an audit client cannot assume a management role to maintain objectivity. Both general and technical standards apply to MAS engagements and consultations, and an understanding with the client should determine the nature, scope, and limitations of services. Practitioners must maintain competence and objectivity, and should not guarantee results from an MAS engagement.

Uploaded by

Abi Pi
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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TRUE OR FALSE

1. The primary purpose of Management Advisory Services is to provide advice and technical
assistance to help the client improve use of its capabilities and resources.
2. For an audit client, an MAS practitioner shall not assume a role of management or
any position that might impair his objectivity.
3. Recommendations and comments as direct result of observations during audit
compilation and review are part of MAS engagement or consultations.
4. The general and technical standards for MAS practice are both applicable to MAS
engagements and consultations.
5. One who is not a CPA and performs an MAS service for a client of a PICPA member
is an MAS practitioner.
6. One of the general standards for MAS practice specifies that a practitioner's name can be
used in a manner which may lead to the belief that he vouches for the achievability of a
forecast.
7. An understanding (oral or written) with client should determine the nature, scope
and limitations of services to be performed.
8. An MAS practitioner is not allowed to secure the assistance of other qualified professionals in
order to complete the engagement.
9. Where a practitioner is asked to respond to an inquiry concerning MAS matter unrelated to
the engagement, both the inquiry does not fall within the definition of MAS consultation.
10. Professional competence includes the ability to effectively communicate and assist in
implementation of recommendations.
11. An MAS practitioner should plan and supervise engagement in order to provide
reasonable assurance that work is in accordance with understanding with client.
12. The engagement plan should be developed that can be modified as necessary during
engagement.
13. An MAS practitioner in determining the nature and quality of information should exercise
personal judgment.
14. The practitioner should not guarantee results of MAS engagement either implicitly or
explicitly.
15. Final reports in MAS engagement may be oral or written depending on the understanding
with client.
16. The nature of MAS consultations may be in the course of a telephone conversation,
non-business meetings, or they may occur at a meeting in the client's office.
17. The role of practitioner in MAS engagement serves as an objective advisor while
MAS consultation the practitioner serves as general business advisor. 18. An MAS practitioner
may perform MAS service in a specific area although lacks competence in that particular area.
19. In MAS consultations, the practitioner should be careful to avoid misleading the client into
believing that he guarantees the benefits the client seeks.
20. The code of professional ethics that specifically deals with the expression of an
opinion does not apply in MAS practice.

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