Harris Fell, CPA and member of the AICPA, was engaged to audit the financial statements of...
Harris Fell, CPA and member of the AICPA, was engaged to audit the financial statements of Wilson Corporation. Fell had half-completed the audit when he had a dispute with the management of Wilson Corporation and was discharged. Hal Compton, CPA, was promptly engaged to replace Fell. Wilson Corporation did not compensate Fell for his work to date; therefore, Fell refused to allow Wilson Corporation’s management to examine his working papers. Some of the working papers consisted of adjusting journal entries and supporting analysis. Wilson Corporation’s management had no other source for this information. Did Fell violate the AICPA Code of Professional Conduct? Explain fully. Remember to complete all parts of the problems. Do not forget to show the necessary steps and explain how you attained that outcome.
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Harris Fell, CPA and member of the AICPA, was engaged to audit
the financial statements of...
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YOUCPA is a regional CPA firm engaged in public audit work of small- and medium-size firms in the Midwest. The YOUCPA firm has their main office in Chicago, Illinois, and regional offices in Minneapolis, Minnesota and Indianapolis, Indiana. The managing partners are located in Chicago. YOUCPA also provides tax preparation and information consulting to customers and is an approved PCOAB audit firm. Your client, the publicly traded Fresno Freezer Corporation, is located in Elgin, Illinois, a small city located outside...
18-25 Devon, Inc., engaged Rao to examine its financial statements for the year ended December 31,...
18-25 Devon, Inc., engaged Rao to examine its financial statements for the year ended December 31, 2018. The financial statements of Devon, Inc., for the year ended December 31, 2017, were examined by Jones, whose March 30, 2018, auditor's report expressed an unqualified opinion. The report of Jones is not presented with the 2018-2017 compara- tive financial statements. Rao's working papers contain the following information that is not reflected in footnotes to the 2018 financial statements as prepared by Devon,...
Allen & Watkins LLP audited the December 31, 20X5, financial statements of Giant Sports Mart. Fieldwork...
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I was employed as a certified public accountant (CPA) for a regional accounting firm that specialized...
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1. Do you agree with Deloitte's assertion that Adams had no "substantive role" in the 2008...
1. Do you agree with Deloitte's assertion that Adams had no
"substantive role" in the 2008 and 2009 Caesars audits? Defend your
answer.
2. The SEC applies a principles-based approach to mitigating the
risks that may undercut auditor independence. Identify the four
guiding principles applied by the SEC to protect the independence
of auditors of public companies.
3. Assume Adams had used his personal funds to finance his
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CASE 20 Enron: Not Accounting for the Future* INTRODUCTION Once upon a time, there was a...
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Case: Enron: Questionable Accounting Leads to CollapseIntroductionOnce upon a time, there was a gleaming...
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In your judgement, and given only the facts described in this case, should the management of...
In your judgement, and given only the facts described in this
case, should the management of Massey energy Company be held
morally responsible for the deaths of the 29 miners? Explain in
detail.
Suppose that nothing more is learned about the explosion other
than what is described in this case. Do you think Don Blankership
should be held morally responsible for the deaths of the 29 miners?
Explain in detail.
Given only the facts described in this case, should the...
18-25 Devon, Inc., engaged Rao to examine its financial statements for the year ended December 31, 2018. The financial statements of Devon, Inc., for the year ended December 31, 2017, were examined by Jones, whose March 30, 2018, auditor's report expressed an unqualified opinion. The report of Jones is not presented with the 2018-2017 compara- tive financial statements. Rao's working papers contain the following information that is not reflected in footnotes to the 2018 financial statements as prepared by Devon,...
1. Do you agree with Deloitte's assertion that Adams had no
"substantive role" in the 2008 and 2009 Caesars audits? Defend your
answer.
2. The SEC applies a principles-based approach to mitigating the
risks that may undercut auditor independence. Identify the four
guiding principles applied by the SEC to protect the independence
of auditors of public companies.
3. Assume Adams had used his personal funds to finance his
gaming activities in the Caesars casino. Under those circumstances,
would he have...
CASE 20 Enron: Not Accounting for the Future* INTRODUCTION Once upon a time, there was a gleaming office tower in Houston, Texas. In front of that gleaming tower was a giant "E" slowly revolving, flashing in the hot Texas sun. But in 2001, the Enron Corporation, which once ranked among the top Fortune 500 companies, would collapse under a mountain of debt that had been concealed through a complex scheme of off-balance-sheet partnerships. Forced to declare bankruptcy, the energy firm...
In your judgement, and given only the facts described in this
case, should the management of Massey energy Company be held
morally responsible for the deaths of the 29 miners? Explain in
detail.
Suppose that nothing more is learned about the explosion other
than what is described in this case. Do you think Don Blankership
should be held morally responsible for the deaths of the 29 miners?
Explain in detail.
Given only the facts described in this case, should the...
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