Do you believe that Barnes’ plan to test Aaron O’Neil’s honesty was appropriate? Was it ethical? What ethical responsibilities does a business’s senior management or owner have when an employee is suspected of theft?
Answer to relevant QuestionsWho has the final responsibility for the integrity of an SEC registrant’s internal controls: its audit committee, its management team, or its independent auditors? Explain.Explain the difference between a “significant deficiency” and “material weakness” in internal control. Provide an example of each.Does an audit firm of an SEC registrant have a responsibility to apply audit procedures intended to determine whether the client has complied with the FCPA? Defend your answer.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, ...Place yourself in Wiley’s position. How would you respond to the “Arrests and Convictions” question? Before responding, identify the decision alternatives available to you.
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