What is responsibility noncompliance with laws-regulations

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Reference no: EM133611266

Assignment:

Your employer is a social media company whose CFO and several employees are engaging in a scheme to skim profits from the company. You are the company's audit partner. An employee informs you about the matter. At this point, what is your responsibility under the new "Noncompliance with Laws and Regulations" (NOCLAR) interpretation? No action on your part would be required. Obtain an understanding of the matter. Report the NOCLAR to the appropriate authority. Consider whether to withdraw from the engagement.

Reference no: EM133611266

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