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Discussion Question (AG)

16/10/2020 Client: m166 Deadline: 3 days

 Respond to the three unrelated questions in a single post.  


 PLEASE REVIEW THE RESOURCES TO ANSWER THE QUESTIONS


Accounting Manual for Public School Districts in the State of Washington: https://www.k12.wa.us/policy-funding/school-apportionment/instructions-and-tools/accounting-manual


Review Chapter 6 – Expenditure Accounts including Debt Service and Capital Assets


Review Chapter 7 – General Journal Entries including Debt Service and Capital Assets


Review Chapter 8 – Financial Reporting


Review Chapter 9 – Federal Grants Management


Review Chapter 10 – Capital Projects Fund and Transportation Vehicle Fund Accounting


Review Chapter 11 – Debt Service Fund Accounting


Review Chapter 13 – Fiduciary Activity


Review Appendix A – Program Expenditure Matrices


Review Appendix B – Additional Accounting Guidance


Review Appendix C – Reference Materials


Source: https://www.k12.wa.us/policy-funding/school-apportionment/instructions-and-tools/accounting-manual






PLEASE ANSWER ALL QUESTIONS 1,2,3 AND 4


 


1) In this course, we have been reviewing audited financial reports. If the auditor’s fee is paid from the entity being audited, isn’t there a conflict of interests that may lead to a lack of objectivity?


Do you believe that a CPA can be truly independent when their payment of fees is dependent on the client?


2) You overheard a friend at a party say that changes in information technology will greatly decrease the demand for accountants. How would you respond to this comment?


3) Most government entities, not-for-profits, and for-profit companies have a “Code of Conduct”. This document outlines the responsibilities and proper practices for an individual in the organization.  In most cases, new employees need to sign a letter acknowledging that they have read and understand the “Code of Conduct”.


Do you really believe that having a written code of conduct will reduce fraud and other dishonest acts in an organization? Why or why not?

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