Because of their access and knowledge, accountants are in an ideal position to provide their clients and the SEC with early and invaluable assistance in identifying the scope, participants, victims and ill-gotten gains associated with corporate wrongdoing. Historically, when CPAs discovered attempted or actual fraud, client confidentiality rules limited their ability to publicly report their observations. With the advent of Dodd-Frank, accountants no longer need to choose between doing the right thing and risking the loss of their professional licenses. Explain how and under what circumstances Dodd-Frank enables accountants to report their observations.
Answer to relevant Questions“Give me the ‘Mc Facts,’ ma’am, nothing but the Mc Facts!” So argued the defense attorney for McDonald’s Corporation as she questioned Stella Liebeck, an 81-year-old retired sales clerk, two years after her ...1. Should we regard Mr. ABC has a new “caped crusader” or an opportunist? Explain the reasons for your response.2. Is it ethical for a Wall Street insider to purposefully analyze financial data of an unrelated company in ...Do you think independence with respect to a client would be impaired if a partner leaves a CPA firm and is subsequently employed by a client of the firm that the partner audited? Why or why not? Are there any procedures that ...Assume that the CPA firm of Giants & Jets LLP audits Knickerbocker Systems Inc. The controller of “the Knicks” happens to be a tax expert. During the current tax season, Giants & Jets gets far behind in processing tax ...On January 16, 2008, the SEC charged two former employees of PricewaterhouseCoopers LLP with insider trading. According to the SEC’s complaint, Gregory B. Raben, a former PwC auditor, and William Patrick Borchard, a former ...
Post your question