Ethics and auditing, Sam works for a CPA firm. The CPA

Ethics and auditing

Assignment Help Operation Management

Reference no: EM131426889

(Ethics & Auditing Question) Sam works for a CPA firm. The CPA first is auditing the firms largest client which is a major corporation and an SEC company. Sam is the audit manager on this audit. Sam's daughter is 5 years old and recently recieved a gift from a relative who lives very far away. The gift was 10 shares of the company Sam is auditing. Sam did not know his daughter would recieve this gift of the stocks but knows about it now? What happens next? What is the situation at hand and what should Sam do? Refer to the ACIPA Code of Ethics standards. What does one do if the audit has impaired independence in accounting? 1. Identify the problem 2. Identify the possible courses of action. 3. Identify any contraints relating to the decision. 4. Analyza the likely effects of the possible courses of action. 5. Select the best course of action.

Reference no: EM131426889

Questions Cloud

How would these three possibilities affect your decision : Carcinogens-R-Us and Lung Decay, two cigarette producers of comparable size, are struggling for market share in a declining market.

What benefits have cemex and the other global competitors : What benefits have CEMEX and the other global competitors in cement derived from globalization? More broadly, how can cross-border activities add value in an industry as apparently localized as cement? What accounts for the sequence in which CEMEX en..

What might you do instead of weighing the nuts : Explain why the chi-square goodness-of-fit test is not an appropriate way to find out.- What might you do instead of weighing the nuts in order to use a test?

Supply chain is dominated by large retailers : In the past manufactures dominates the supply chain, but now the supply chain is dominated by large retailers. Give two reasons why this is the case while referring to "Power".

Ethics and auditing : Sam works for a CPA firm. The CPA first is auditing the firms largest client which is a major corporation and an SEC company. Sam is the audit manager on this audit. Sam's daughter is 5 years old and recently recieved a gift from a relative who lives..

Should management go ahead with the repurchase : However, the company's suppliers are unhappy with the decision and are threatening to revoke the company's net-30 day credit terms, which will cost the firm an additional 2 percent on its $1.5 billion inventory. Should management go ahead with the..

Explain the working of the keynesian multiplier : 1. Explain the working of the Keynesian multiplier. 2. Why is monetary policy ineffective to combat recession in the world of the Classical Model?

Prepare one to two page paper on six sigma : Prepare a one to two page paper on Six Sigma using at least three outside references. Discuss your opinions about Six Sigma and how it is affecting project quality and business in general.

Describe the important physical features of that age group : identify the age group and developmental stage selected. Describe the important physical, emotional, cognitive, and social features of that age group. Analyze that developmental stage from the point of view of at least three developmental theorist..

User Account

All Pages