Clarification.In the April 2006 Personal Financial Planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against column, "Fiduciary fiduciary (fĭd  `shēĕ'rē), in law, a person who is obliged to discharge faithfully a responsibility of trust toward another. Responsibility and Opportunity," the third paragraph on p. 241 stated: "Attest To solemnly declare verbally or in writing that a particular document or testimony about an event is a true and accurate representation of the facts; to bear witness to. To formally certify by a signature that the signer has been present at the execution of a particular writing so as services are fiduciary services, because a CPA's loyalty is to the profession's ethical eth·i·caladj. 1. Of, relating to, or dealing with ethics. 2. Being in accordance with the accepted principles of right and wrong that govern the conduct of a profession. and professional standards related to the attest engagement, rather than to the client." The sentence should have read: Attest services are not fiduciary services, because a CPA's loyalty is to the profession's ethical and professional standards related to the attest engagement, rather than to the client. |
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