Identify and analyze the ethical issues presented by Miras request. What should Asha do?

Asha from Paper View (See Chapter 1 Optional Extra Credit Case Story) has graduated from Encino State University, become a licensed CPA, and is a staff accountant in the retail sector audit team at Barker & Weiss public accounting firm.

Ashas parents own the restaurant, The Raj, with Ashas aunt. Her aunts daughter, Mira (Ashas cousin) is several years older than Asha, but she and Asha are as close as sisters.

Mira started an online company called Tea Time which sells coffee and tea. Tea Time is going to make an initial public offering (IPO); therefore, Tea Time needs to get an external audit of Tea Times books.

Public accounting firms like Barker & Weiss highly value gaining successful start-up companies as audit clients. IPO audits can lead to more audit engagements from these companies, so gaining IPO audit engagements is competitive.

Mira tells Asha that she would like to have Barker & Weiss conduct the audit for the Tea Time IPO, but only if Asha will be on that audit team.

Ashas aunt has already spoken to Ashas parents about this request; Ashas parents are urging her to help Mira in this way. Ashas parents have also told Asha that she would benefit from bringing in such a client as Tea Time to Barker & Weiss.

Identify and analyze the ethical issues presented by Miras request. What should Asha do?.(3 points)