The partner in charge of your firm is concerned that staff members may not be aware of current professional standards about communicating material errors, fraud, and illegal acts to parties other than management and the board of directors, given particularly that the standards have changed in the 1970s, the 1980s, and again in the 1990s.

Required: 

Draft a memorandum for distribution to all staff members about procedures for reporting potential errors, fraud, and illegal acts. Be specific.