At what level within an accounting firm do accountants qualify as “professionals”? Which employment levels (staff accountant—that is, an employee below the rank of audit senior; audit senior; audit manager; audit partner) do you believe should be compensated for overtime that they work? Explain.
Answer to relevant QuestionsThe Enron debacle created what one public official reported was a “crisis of confidence” on the part of the public in the accounting profession. List the parties who you believe were most responsible for that crisis. ...A key issue in the overtime lawsuits is whether audit staff below the position of audit senior requires close supervision and have the ability and authority to exercise “independent discretion and judgment.” Do ...Do you agree or disagree with Olivia’s father that public accountants should keep their professional and personal lives strictly separate? Explain.Do you believe it is appropriate for a professional services firm to ask employees to serve on engagements in which their personal safety is at risk? Defend your answer.Do you believe that the proposal to merge Shari’a compliance audits with financial statement audits is feasible? Defend your answer.
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