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Summer I 2024 Advanced Auditing (ACCT-528-01W)
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When a dispute arises between an audit client and its auditor regarding the proper accounting treatment for a transaction or other item, the audit client will sometimes retain another accounting firm to issue a report, previously known as a SAS No.50 report, on the proper accounting treatment for the given item [see AS 6105 of the PCAOB auditing standards and AU-C Section 915 of the AICPA
Professional Standards]. Identify the potential ethical dilemmas that may result from allowing accounting firms to issue such reports to nonaudit clients.
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