Craig Schuster resigned as F&C’s CFO on 1 January 1993. Apparently, Schuster did not reveal to any third parties the concerns he had regarding F&C’s accounting records and previous financial statements. In your opinion, did Schuster have a responsibility to inform someone of those concerns following his resignation? Defend your answer.
Answer to relevant QuestionsAssume that you, rather than Fletcher Anderson, were F&C’s COO in December 1992. What would you have done upon receiving the list of Warehouse Q inventory from Craig Schuster?Identify the specific circumstances under which auditors are allowed to provide confidential client information to third parties.Did Arvel Smart behave unethically by accepting the internship with the St. Louis accounting firm when he intended to accept the outstanding job offer from the Big Four accounting firm at the completion of that internship? ...Identify the parties who had a stake in, or would be affected by, the outcome of the ethical dilemma faced by William Makadok in 1990. What obligation, if any, did Makadok have to each of these parties?Describe the procedures an auditor should perform during a review of a client’s quarterly financial statements. In your opinion, did the Touche Ross auditors who discovered the $203,000 adjusting entry during their 1985 ...
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