Question
For each of the following scenarios, evaluate whether the situation involves possible violations of the AICPAs Code of Professional Conduct. For each situation state: 1)
For each of the following scenarios, evaluate whether the situation involves possible violations of the AICPAs Code of Professional Conduct. For each situation state: 1) The relevant rule or interpretation that applies to this scenario (Rule number and title); 2) Whether there is a violation of the Code (yes or no); and 3) Your rationale in deciding whether there is a violation.
G. A CPA is a member of a national CPA firm. Her business card includes her name, the firms name, address and telephone number and the title IT Consultant. H. A CPA set up an insurance agency to complement his auditing and tax services. He does not use his own name on anything related to the insurance agency. He has hired a highly competent manager who runs the agency. The CPA often requests that the insurance agency manager review the adequacy of a clients insurance coverage with the companys management if it seem under-insured. He believes that he provides a valuable service to clients by informing them when they are underinsured. I. A CPA is requested to assist a non-audit client in installation of a local area network. The CPA has no experience in this type of work and no knowledge of the clients computer system, so she
obtained assistance from a computer consultant. The consultant is not in the practice of public accounting, but the CPA is confident of the consultants professional skills. Because of the highly technical nature of the work, the CPA is not able to review the consultants work. J. A CPA stayed longer than he should have at his firms New Years Eve party. On his way home that night, he drove through a red light and was stopped by the police who observed that he was intoxicated. In a jury trial, he was found guilty of driving under the influence of alcohol. Because this was not his first offense, he was sentenced to 30 days in jail and his drivers license was revoked for one year
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started