Although professionals are not guarantors of the accuracy of their work or that the advice they give to clients will work out well, they are bound by a general duty of performance to act with the requisite ____________________.

skill and care

capacity and faculty

intelligence and talent

persistence and consideration

patience and courtesy

A professional's duty of performance requires that every professional demonstrate the level of skill of ____

the most educated member of her profession

the ordinarily prudent person

the ordinarily prudent person in her profession

a reasonably skilled and knowledgeable adult

the least educated member of her profession

To address the concern that auditing firms were not sufficiently independent from the firms they audited, the Sarbanes-Oxley Act created the __________________________ that is charged with adopting rules establishing auditing quality control, ethics, and independence standards.

Supervision and Control Commission

Surveillance Board

Organization Administration

Public Company Accounting Oversight Board

Committee for the Management of Auditing Firms

When clients sue professionals, there are three principal bases of liability: __________, tort, and trust.

contract

fidelity

wills

criminal law

constitutional law

Conrad is performing accounting work for his client Second Bank. If Conrad, acting with scienter, misstates or omits important facts that he discovers in this role, he may be liable to Second Bank for _________.

breach of trust

negligence

verbal assault

fraud

innocent misrepresentation