For each of the situations listed, identify which of three principles (integrity, objectivity and independence, or due

Question:

For each of the situations listed, identify which of three principles (integrity, objectivity and independence, or due care) from the AICPA Code of Professional Conduct is violated. Assume all persons listed in the situations are members of the AICPA. (Note: Refer to the AICPA Code of Professional Conduct contained on pages 25–27 in Chapter 1 for descriptions of the principles.)

a. Jackie recently received a promotion and is required to do more complex journal entries than in her previous position. Since Jackie is embarrassed that she does not know how to do the journal entries, she does not attend a training session at her company. She figures that she can figure it out on her own; after all, the company promoted her.

b. Tim is in charge of entering accounts receivable journal entries. Tim is notorious for transposing the numbers in his journal entries, so his supervisor requires him to review his work at the end of each day. Tim is annoyed by this policy and leaves work without reviewing his journal entries.

c. Troy, the managing partner of a CPA firm, received two tickets to the upcoming Alabama versus Ohio State football game from an accounting software vendor. The CPA firm is currently conducting an audit of that accounting software vendor. These football tickets sell for over $500 each.

d. Paige sets up a fake supplier account and then creates false invoices and bills her company for work done by this fictitious supplier. Once the check is cut for the fake supplier, Paige deposits it in her own bank account.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Financial Accounting

ISBN: 978-0134725987

12th edition

Authors: C. William Thomas, Wendy M. Tietz, Walter T. Harrison Jr.

Question Posted: