You are the controller for ABC company, a small, publicly-traded manufacturing company, and you report directly to the CFO. In order to protect itself against foreign currency fluctuations, ABC has entered into a hedging transaction by purchasing derivatives. Now that your company has derivative activities and hedging transactions, you are required to apply FASB Statement No. 133, "Accounting for Derivative Instruments and Hedging Activities." Since you are not familiar with this standard, you indicate to your boss that you would like to hire an outside accounting firm to help you implement the standard, and he agrees to this arrangement. In the course of its work, the CPA firm asks you questions about how you wish to apply certain aspects of hedge accounting. You didn't realize you had a choice. Your boss indicates that CPA firm should make the decision regarding application, since your company is paying them such expensive fees. You grow to appreciate the work that the CPA firm is doing for your company. You indicate to your boss that you think that the CPA firm should take over the audit work for the company. Your boss agrees. Instructions: What are the ethical issues in this case? (Hint: There are three). What rules apply? Apply the rules to reach a conclusion about the course of action that should be taken with regards to each issue.