Loading...

Messages

Proposals

Stuck in your homework and missing deadline? Get urgent help in $10/Page with 24 hours deadline

Get Urgent Writing Help In Your Essays, Assignments, Homeworks, Dissertation, Thesis Or Coursework & Achieve A+ Grades.

Privacy Guaranteed - 100% Plagiarism Free Writing - Free Turnitin Report - Professional And Experienced Writers - 24/7 Online Support

What is a covered member in auditing

17/11/2021 Client: muhammad11 Deadline: 2 Day

Auditing

1. (15 pts) Answer the following questions using the online AICPA Code of Professional Conduct.

a. (1) Give the specific citation for the section and paragraph(s) of the Code regarding the acceptance of contingent fees for professional services by a member in public practice.

b. (1) Give the specific citation for the section and paragraph(s) of the Code that define the term “covered member.”

c. (4) Based upon that definition, indicate whether each of the following is a covered member given this situation. BuffCo is an audit client of the Amarillo office of Friske and Co. CPAs. Friske and Co. also has offices in Canyon, Lubbock, and Midland.

i. Darlene Pulliam is a partner in the Canyon office of Friske and Co. She does not work on the BuffCo audit.

ii. Brett Butler is a first year staff auditor who works on the BuffCo audit.

iii. Will Wesley is a partner in the Amarillo office of Friske and Co. He does not work on the BuffCo audit.

iv. Kat Keiser is a manager in the Amarillo office of Friske and Co. She is in charge of providing tax services to BuffCo.

d. ( 2) A partner in a multioffice CPA firm owns 2% of a potential audit client. The engagement would be performed by an office with which he is not associated. The partner would not provide any services to the client nor be in a position to influence the engagement team. Is the firm independent to perform the audit? Give the citation for the section and paragraph(s) of the Code that support your answer.

e. (4) What section should an auditor research to determine how to maintain independence when performing nonattest services outside the scope of the attest engagement? List three specific nonattest services mentioned in the Code and the specific section references for each.

f. (1) Which rule in the Code prohibits a member in public practice from disclosing any confidential client information without the specific consent of the client? Give the Code section reference.

g. (1) BuffCo’s controller, Iris Avoid, an AICPA member in business, fails to comply with applicable federal, state, or local laws or regulations regarding the timely filing of her personal tax return and fails to comply with applicable federal, state, or local laws or regulations regarding the timely remittance of all payroll and other taxes collected on behalf of others. She may be considered to be in violation of which rule? Give the rule name and specific Code section reference.

h. (1) Iam Stressed, an accountant for BadBuff and an AICPA member in business, is pressured to become associated with misleading information and subordinates his judgment to that of someone associated with the employing organization (BadBuff) due to that individual’s position, reputation, or expertise; aggressive or dominant personality; or attempts to coerce or exercise excessive influence over Iam. Which threat is described in this situation? Give the specific Code section reference.

2. ( 10 pts) Case 1.1 Enron Corporation (the high profile disaster that changed the face of auditing!)

a. Explain how consulting (nonaudit) services led to the demise of Andersen. Be specific and discuss this in terms of the threats to independence as put forth in the Conceptual Framework for Independence in the Code.

b. Mandatory audit firm rotation has recently been a hot topic in the US and Europe. Do you believe mandatory audit firm rotation would have prevented this disaster? Explain.

3. (10 points) Case 5.3 Caesars Entertainment Corporation

a. Discuss the independence issue in this case.

b. Do you believe Adams had a substantive role in the 2008 and 2009 audits? Explain your answer.

4. (15 points) Ernst & Young (E&Y) Independence Violations

Ernst & Young LLP agreed last year to pay $9.3 million to settle two cases in which the SEC said E&Y auditors had compromised the firm’s independence because they had close personal relationships with executives of its audit clients.

https://www.sec.gov/news/pressrelease/2016-187.html

http://fortune.com/2016/09/20/ernst-and-young-fine-relationships/

http://www.reuters.com/article/us-ernst-young-usa-sec-idUSKCN11P1I8

https://www.bloomberg.com/view/articles/2016-09-19/love-friendship-and-public-accounting-don-t-mix

a. Read the above articles and briefly discuss the implications of these cases.

b. What are the potential threats (refer to the Code) to compliance with the “Independence Rule” in these situations?

c. Do you believe E&Y as a firm has an overall lack of quality control with respect to independence? Explain.

Homework is Completed By:

Writer Writer Name Amount Client Comments & Rating
Instant Homework Helper

ONLINE

Instant Homework Helper

$36

She helped me in last minute in a very reasonable price. She is a lifesaver, I got A+ grade in my homework, I will surely hire her again for my next assignments, Thumbs Up!

Order & Get This Solution Within 3 Hours in $25/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 3 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 6 Hours in $20/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 6 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 12 Hours in $15/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 12 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

6 writers have sent their proposals to do this homework:

Chartered Accountant
24/7 Assignment Help
Accounting & Finance Specialist
Assignment Helper
Professional Accountant
Homework Master
Writer Writer Name Offer Chat
Chartered Accountant

ONLINE

Chartered Accountant

I have read your project description carefully and you will get plagiarism free writing according to your requirements. Thank You

$25 Chat With Writer
24/7 Assignment Help

ONLINE

24/7 Assignment Help

This project is my strength and I can fulfill your requirements properly within your given deadline. I always give plagiarism-free work to my clients at very competitive prices.

$45 Chat With Writer
Accounting & Finance Specialist

ONLINE

Accounting & Finance Specialist

As an experienced writer, I have extensive experience in business writing, report writing, business profile writing, writing business reports and business plans for my clients.

$46 Chat With Writer
Assignment Helper

ONLINE

Assignment Helper

I will be delighted to work on your project. As an experienced writer, I can provide you top quality, well researched, concise and error-free work within your provided deadline at very reasonable prices.

$50 Chat With Writer
Professional Accountant

ONLINE

Professional Accountant

I will provide you with the well organized and well research papers from different primary and secondary sources will write the content that will support your points.

$31 Chat With Writer
Homework Master

ONLINE

Homework Master

I have done dissertations, thesis, reports related to these topics, and I cover all the CHAPTERS accordingly and provide proper updates on the project.

$44 Chat With Writer

Let our expert academic writers to help you in achieving a+ grades in your homework, assignment, quiz or exam.

Similar Homework Questions

MG401 Unit 3mAssignment - Biographical characteristics and how are they relevant to ob - Free online graph paper - Peaceful End of Life Nursing Theory by Cornelia Ruland and Shirley Moore. - Nursing assigment - Analytical CRM - Case study - The morality of migration by seyla benhabib summary - Bonaire evaporative cooler cleaning - Dolphins are not fish - MKTG201 Week 1 Assignment 1 - Sticks and stones and such like - Barberry inc manufactures a product called fruta - 24 hour daycare on tara blvd - On the fireline: living and dying with wildland firefighters - Iosr journal of dental and medical sciences - Vcaa spec formula sheet - Accessdata certifies examiner - Abbey primary school newry - The class game by mary casey analysis - Risk analysis for medium scale expansion excel - Hsbc mastercard rewards catalogue - Final - Psychiatric mental health nursing sheila videbeck pdf - The principles of ecology worksheet answers - Atomic structure quiz answers - Identifying cations in solution lab answers - Information Governance - Middlebury email sign in - A3- lean management PowerPoint presentation (Urgent) - Geomorphology - Chemistry matter and its changes 5th edition pdf - W4. Discussion - Climate zone sydney bca - Powerpoint Should Consist Of 20 Slides. Rubric Is Attached .PLEASE FALLOW THE RUBRIC - Ib math studies probability - Strategies for addressing behavior problems in the classroom 6th edition - Post it short film analysis - Henna co produces and sells two products - Graduate Paper revise - Summerise - Conveyor belt project part 3 - Is the handmaid's tale a feminist book - Content analysis assignment - Essay - Normal and abnormal behavior in psychology - Oedipus killing laius quotes - Information Systems Essays - Gary kennedy food technologist - Assignment 2: Repeat Police Calls (CRJ 125) - Excel module 9 sam project 1 - Response 2 - The prince by niccolo machiavelli answers - Ati video case study teamwork and collaboration - The crown of diamonds sherlock holmes summary - 116 muller road tregeagle - The lottery analyzing the text questions - Gemeinschaftsgefühl meaning in psychology - Industrial and Hazard Waste Management - How does priam change in ransom - Rolling wave planning vs progressive elaboration - Pi in various ancient civilizations - The main theme of this essay mother tongue suggests that - Bote cote epoxy e glue - Computer science 9608 past papers 2017 - The graduate nude scene - Superlativos completa las oraciones con el superlativo de las palabras en paréntesis. - Business - The toshiba accounting scandal how corporate governance failed - The manager of a store that specializes in selling tea - Endeavour energy asp website - The economy of zarland is operating - Http www sumanasinc com webcontent animations content pcr html - Essential skills classroom management - Below knee amputation icd 10 pcs - Java code for gym management system - Leadership Applications CRJ-565-MCOL3 - The ultimate benefits of taking online management assignment help by the experts - How does bethany respond to the attack - The advantages of intercultural communication skills in criminal justice - Hollyoaks 22nd july 2014 - Recommend a computer system for a given business purpose p4 - Reflection on Internship Experience - 3x 6y 30 y 6x 34 - Emergency fire pump priming unit - The modern study of intergroup behaviour takes into account: - Clark rubber traralgon vic - Zipcar refining the business model case study analysis - Response to case study assignment follow and read direction clear. - Journal-200 words - Wind power - Raspberry pi irlp node - Semi quantitative test for lipids - Orange business services atlanta - Capital budgeting sums - DISCUSSION POST - 0xc004f009 grace time expired - G103 Module 3 Week 3 Discussion Forum 1 - Lower glenelg national park - Family tree maker companion guide