Class 19 Ethically Managing Ethics Risks Flashcards Preview

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Flashcards in Class 19 Ethically Managing Ethics Risks Deck (3)
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1

What are the key facts of the "To Qualify or Not" case?

- Jane recently graduated and came to work for Frankie on largest client for 1st assignment
- Discovered issues w/ client's A/R, which co tried to cover up with inventory
- Told Frankie, who was more concerned about maintaining client

2

What are Jane's choices if nobody does anything?

1) Approach Mr. Viccio (PIC) for further consultation
2) Consider approaching another partner
3) Keep written note/memo of all meetings
4) If firm not responsive, consider consulting a professional body or a lawyer for advice

3

What are the issues in the "Dilemma of an Accountant" case?

- Professionalism
- Duties to client
- Independence
- Duties to public