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An engagement director accepts a bottle of wine from a client valued at $1,000. The director is aware of the company policy regarding gifts, yet

An engagement director accepts a bottle of wine from a client valued at $1,000. The director is aware of the company policy regarding gifts, yet still accepts the gift as to not offend the client and does not report it to the compliance department. Is this an ethical or legal issue? What is the proper procedure the engagement director should have followed?

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