1. If a CPA recklessly departs from the standards of due care when conducting an audit‚ she or he will be liable to unknown third parties based on a. strict liability c. negligence b. gross negligence d. breach of contract 2. Under the common law‚ which of the following statements most accurately reflects the liability of a CPA who fraudulently gives an opinion on an audit of a client’s financial statements? c. The CPA is liable only to third parties in privity of contract
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Ethics Article Review Paper (Revised) Shirley Smith University of Phoenix FIN 324 Walter P. Lambert December 1‚ 2006 A study done between Motorola and Ericsson on the implementation of Corporate Ethics and the transformation within the corporations following the implementation of the Sarbanes-Oxley Act of 2002‚ looking at various ethic theories‚ such as stockholder theory‚ stakeholder theory‚ and legitimacy theory. Since the Sarbanes-Oxley Act‚ which was enacted in response to the Enron
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Ethics Paper Christina Noto Arizona State University Ethics Paper Nurses should be concerned about values and laws that pertain to patients. There should be concern for those patients that are homeless without insurance and not receiving the care that they should because it goes against the ethical principle beneficence‚ to remove and do no harm. Beneficence‚ is one of the primary ethical principles that guides us to do good for our patients (Epstein & Ward‚ 2016). Ethical principles provide
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Auditing is an examination and verification of a company’s financial and accounting records and supporting documents by a professional‚ such as a Certified Public Accountant. According to AlBaraka‚ Islamic bank is an institution that mobilizes financial resources and invests that money in an attempt to achieve pre-determined islamically - acceptable social and financial objectives. Both mobilization and investment of money should be conducted in accordance with the principles of Islamic Sha’riah
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Ethical and Legal Challenges in Professional Practice Stefanie Pollack CCMH/515 January 2‚ 2013 Dr. Patricia Kerstner Ethical and Legal Challenges in Professional Practice The American Counseling Association (ACA) Code of Ethics is available to clarify the ethical responsibilities for professional counselors and future professional counselors. According to the ACA (2005)‚ “the code serves as an ethical guide designed to assist members in constructing a professional course of action
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Critical Thinking Students Name Institution Affiliation Case Study: Critical Thinking and Ethics What is the moral responsibility of all participants? The medical profession is tasked with the betterment of people’s life through the optimization of their health (Trey‚ Caplan & Lavee‚ 2013). Therefore‚ transplant presents a thin boundary between saving lives and destroying the life of the individual that demands the surgery. Doctors are tasked with facilitating the optimization of the
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Introduction To AuditING and Window Dressing INDEX Sr.no | Topic | 1. | Introduction | 2. | Origin ‚ Definition | 3. | Objectives | 4. | Principles | 5. | Errors and Frauds | 6. | Window Dressing | 7. | Case Study | 8. | Conclusion | OBJECTIVES OF AUDITING The main object of the audit is to find out whether the accounts of a particular concern show a true and fair view of the earnings and financial state of affairs.This is possible
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When completing the Research Participation Ethics Questionnaire‚ it became more evident to me the ethical responsibility that I have as a participate‚ to be honest‚ reliable‚ and respect the researcher’s objective. My overall score from the survey was 15. However‚ for the questions relating to honesty‚ I was torn between selecting “minor ethical issues” or “major ethical issues.” Finally‚ deciding to go with “minor ethical issues‚” while selecting the major ethical issue for the question relating
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Solutions for Chapter 2 True/False Questions 2-1 F 2-2 F 2-3 T 2-4 F 2-5 T 2-6 T 2-7 F 2-8 T 2-9 F 2-10 T 2-11 T 2-12 F Multiple Choice Questions 2-13 B 2-14 B 2-15 B 2-16 E 2-17 D 2-18 C 2-19 C 2-20 D 2-21 A 2-22 D 2-23 E 2-24 B Review and Short Case Questions 2-25 Fraud is an intentional act involving the use of deception that results in a material misstatement of the financial statements. Two types of misstatements are relevant to auditors’ consideration
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nursing standards of practice and identify the different entities that might be involved in developing a standard of practice. Members of this team are nurses themselves and work in their various fields. So when something comes up that needs addressed‚ they meet as a committee and discuss the issue. Then they decide what would be the best action to take for solving the problem. By doing this they are able to come up with the standards we now have. They realize that there must be a code of ethics and
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