Chapter 4 Professional Ethics Assignment For each of the two cases presented below, address the following:...
4-22 (OBJECTIVES 4-5,4-7) Each of the following situations involves a possible violation of the AICPA Code of Professional Conduct. For each situation, state the applicable rule of conduct and whether it is a violation.a. Emrich, CPA, provides tax services, management advisory services, and bookkeeping services and also conducts audits for the same nonpublic client. Because the firm is small, the same person often provides all the services.b. Steve Custer, CPA, set up a casualty and fire insurance agency to complement...
For each of the following independent situations, state whether the CPA has violated generally accepted auditing standards and/or the CPA Ontario Professional Code of Ethics. Explain your reasoning. (That is, violated/not violated and then explain why?) a. Emily, CPA, completed an audit of the financial statements of Major Breakthrough Inc. (MBI), a public company. During the audit, she became privy to information that MBI’s most recent major breakthrough was falsified and the information was going to made public in the...
You are a manager in Nelson & Co., a firm of Chartered Certified Accountants, with three offices and 12 partners. About one third of the firm’s clients are audit clients, the remainder are clients for whom Nelson & Co. performs tax, accounting and business advisory services. The firm is considering how to generate more revenue, and you have been asked to evaluate two suggestions made by the firm’s business development manager. An advertisement could be placed in national newspapers to...
ETHICS WORK e chapter has presented ethical dilemmas that sometimes arise when us- an international labor force to manufacture products. The following sce- rio is your chance to apply the concepts to a business situation. What hould the CEO do? Why? Answer the questions that follow the scenario, and be prepared to respectfully argue for your point of view in class. Main Issue and Options Issue: Should the CEO renew the contract with Quality Dragon, Limited, or should he seek...
Please help ASAP. Will rate! 1. Intro: Read through the meeting minutes &find an engagement letter in the textbook and read it (don't have to write one) then write a list of the staffing you thing you need for the engagements (tax specialist, IT specialist for when the computers stop working, etc) Board minutes are in document 5 2. Board Minutes: Read through the board minutes (board minutes provide a history of every important event and transaction that the client...
Scenario- You have been invited to attend a meeting where your immediate supervisor will be presenting a draft of detailed financial projections to the chief financial officer and a subsequent meeting with the company president. You've not been involved in the preparation of the analysis thus far but understand that you might have some tasks delegated to you after the meeting. In addition, you realize that the company is at a critical juncture from issues such as high attrition of...
apply the five steps conceputual framework for members in public practice to this dilemma ER 2 Professionalism and Professional Responsibilities c. La indepe d. Can were is Problems AP2.4 (La ing, an aus of Professi conduct 1. The a 2. An u AP2.1 (LO 2, 3) Basic Framework for ethical decision making Assume that you are the audit partner on an engagement for a client that has had a string of operating losses. You know the CFO, who is a...
Kevin Lowe is depressed. He has been with the CPA firm Stooges LLP for only three months. Yet the partners in charge of the firm—Bo Chambers and his brother, Moe—have asked for a “sit-down.” Here’s how it goes: “Kevin, we asked to see you because your time reports indicate that it takes you 50 percent longer to complete audit work than your predecessor,” Moe said. “Well, I am new and still learning on the job,” replied Lowe. “That’s true,” Bo...
17-38 For each of the following brief scenarios, assume that you are reporting on a client’s current year financial statements. Reply as to the type or types of opinion possible in the circumstance. S Unmodified – Standard U Unmodified with emphasis-of-matter or other-matter paragraph Q Qualified D Disclaimer A Adverse Since more than one report may be possible in several of the circumstances, a second “opinion” column is added for each circumstance. In certain cases,...
To fully address this case assignment, please read and analyze each assigned case. Your response for each case should be numbered and provide the following: 1. Summarize the key OB issues in the case relative to this week's material (at least 2 key issues MUST be identified). Be sure to speak in OB language, using appropriate terminology to identify the concepts and issues you identify. 2. Clearly link the key issues in the case back to relevant and specific course...