c. Ability of the consultant in bringing about a satisfactory relationship with aclient, and consequently, the successful completion of an engagement.d. Quality or state of being of sound moral principles, honesty and sincerity.e. Ability to avoid bias and maintain an impartial attitude in all matters underreview.E The CPA maintains his role as an objective researcher, analyst or adviser anddoes not consider himself as part of the management by taking on the role ofdecision maker.g. Ability to define client needs, to utilize the analytical approach and process, toapply knowledge of the technical subject matter under consideration, tocommunicate recommendations effectively, and to assist in implementing therecommendations.h. An engagement that covers all the seven phases of the analytical approach andprocess.i. The professional service performed by specially trained and experienced personsin giving assistance to management in improving managerial, operating, andeconomic performance of the various institutions of our society.j. Observations of, and inquiries made, on a program or system after its installationfor a sufficiently long period to uncover deficiencies promptly and to make necessarymodifications.k. An operational plan which, when adequately prepared, may result in reasonableassurance that all engagement activities are systematically geared towards theattainment of its objective(s).1. The systematic, objective and rational method of solving business problemsinvolving professional level ability in fact-finding, problem definition,determination and evaluation of possible solutions, and the adaptation of thebest solution to the particular situation. Questions:1. Define the following:a. Management consultingb. Consulting art*e. Integrityd. Objectivitye Competencef. Full scope engagementK. Special study engagementh. Analytical approach and processi. Engagement programj. Post-engagement follow up2. Why does an organization need the services of an MAS consultant even if everythingseems all right in its operations?3. What are the distinguishing characteristics of MAS engagements? Explain each.4. What are the advantages of a CPA over members of other professions in renderingmanagement advisory services or consulting work? Explain.5. Enumerate the practice standards in MAS and explain each.6. Give at least four provisions of the Code of Professional Ethics for CPAS whichmust be observed by those engaged in MAS. Explain each.7. The CPA should provide for client participation in MAS. Explain.8. Enumerate the different phases in the analytical approach and process and explaineach.9. What are the different stages in MAS engagements? Explain each.10. How are the functions of management applied in managing MAS practice?Exercise 1: TerminologyMatch the following terms with the statements given below:Consulting artFull scope engagementIntegrityEngagement programPost-engagement follow upCode of Professional EthicsManagement consultingSpecial study engagementAnalytical approach and processCompetence in professional workObjectivityAccountancy LawIndependence in mental attitudeCompetence in performing MASa. Technical qualification of the practitioner and his ability to supervise personnelassigned to evaluate the quality of work performed and to accept responsibility tothe client for successful completion of the engagement.b. An engagement that covers the first five phases of the analytical approach andprocess so that the client seeks only an impartial and objective study and thepractitioner's recommendations.

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Accounting refers to the procedure of measurement, communication as well as processing the financial…