Question

Is there any special reason why auditors (or you could argue accountants in general or CPAs)...

Is there any special reason why auditors (or you could argue accountants in general or CPAs) should be ethical?   Shouldn't everyone be ethical, like employees in Marketing, Customer Service?

Homework Answers

Answer #1

The nature of the work carried out by accountant and auditors require a high level of ethics shareholders ,potential shareholders and other users of the financial statements rely heavily on the yearly financial statements of a company as they can use this information to make an informed decision about investment.

Knowledge of ethics can help accountant and auditors to overcome ethical dilemmas allowing for the right choice that although it may not benefit the company, will benefit the public who relies on the accountant or auditors reporting.

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
1. In communications with clients, when should CPAs refer to themselves as auditors: a) During any...
1. In communications with clients, when should CPAs refer to themselves as auditors: a) During any type of engagement (Assurance or Attestation) b) Only for review and audit attestation engagements c) Only for audit attestation engagements d) For all compilation, review and audit engagements 2. A compilation report that omits substantially all notes and disclosures: a) Is not allowed b) Includes an adverse opinion c) Must indicate that management has elected to omit such information d) Includes a qualified opinion...
Discuss three more specific examples of what you believe this second bank’s HR department could have...
Discuss three more specific examples of what you believe this second bank’s HR department could have done to improve the representative performance. Improving a Bank’s Customer Service One bank installed special software that made it easier for its customer service representatives to handle customers’ inquiries. However, the bank did not otherwise change the service reps’ jobs or training in any way. Here, the new software system did help the service reps handle more calls. But otherwise, this bank saw no...
You are a manager in Yiblam & Co, a firm of Chartered Certified Accountants, and you...
You are a manager in Yiblam & Co, a firm of Chartered Certified Accountants, and you have taken on the responsibility for providing support and guidance to new members of the firm. Yiblam & Co has recently recruited a new audit junior, Ezekial Davies, who has come across several issues in his first few months at the firm which he would like your guidance on. Ezekiel's comments and questions are shown below: a) I know that auditors are required to...
The audit of KBC Solutions by Carlson and Smith, CPAs, was scheduled to end on February...
The audit of KBC Solutions by Carlson and Smith, CPAs, was scheduled to end on February 28, 2016. However, Rick Carlson was uncertain whether it could happen. As the review partner, he had just completed going over the work paper files of the senior auditor in charge of the engagement, Grace Sloan, and had way too many questions to wrap things up by the end of the week. Rick called Grace into his office and asked her about some questionable...
You are the general manager of a trendy pub restaurant in an upscale part of a...
You are the general manager of a trendy pub restaurant in an upscale part of a large metropolitan area. You have local musicians that perform regularly. You have a great staff that gets along well and enjoys working together. Strong customer volume includes regular locals and new guests. The customers enjoy their interaction with the staff and bartenders and thus will often buy them a drink. When the staff gets off work before closing they will often become customers with...
You are a business owner of a firm that services trucks. A customer would like to...
You are a business owner of a firm that services trucks. A customer would like to rent a truck from you for one week, while you service his truck. You must decide whether or not to rent him a truck. You have an extra truck that you will not use for any other purpose during this week. This truck is leased for a full year from another company for $300/week plus $.50 for every mile driven. You also have paid...
You are a business owner of a firm that services trucks. A customer would like to...
You are a business owner of a firm that services trucks. A customer would like to rent a truck from you for one week, while you service his truck. You must decide whether or not to rent him a truck. You have an extra truck that you will not use for any other purpose during this week. This truck is leased for a full year from another company for $300/ week plus $.50 for every mile driven. You also have...
Terry’s auditors have approached the management team with their concern that Terry has not been properly...
Terry’s auditors have approached the management team with their concern that Terry has not been properly recording deferred taxes. In particular, they are concerned that Terry is simply recognizing 25% as the company’s income tax expense. They have asked the company to make a thorough review of the company’s tax liability utilizing the services of professional tax accountants. The review revealed three book/tax differences in Terry’s financial information: The review revealed three book/tax differences in Terry’s financial information: 1.Terry’s management...
Unit II Essay Marketing Plan: Part I Throughout this course, you will compile a comprehensive marketing...
Unit II Essay Marketing Plan: Part I Throughout this course, you will compile a comprehensive marketing plan using one of the product/service scenarios listed below. (Note: You will use the same scenario throughout the course.) This scenario will be the basis of your start-up company and will be the catalyst for the three parts of the marketing plan that you will compose in Units II (Part I), IV (Part II), and VII (Part III). The company that you choose to...
Required information Chapter 17 Case: Reducing Ambiguity in Business Requirements The number one reason projects fail...
Required information Chapter 17 Case: Reducing Ambiguity in Business Requirements The number one reason projects fail is bad business requirements. Business requirements are considered “bad” because of ambiguity or insufficient involvement of end users during analysis and design.     A requirement is unambiguous if it has the same interpretation for all parties. Different interpretations by different participants will usually result in unmet expectations. Here is an example of an ambiguous requirement and an example of an unambiguous requirement: • Ambiguous requirement:...