Do you believe that Jack Atchison’s close relationship with Lincoln and Charles Keating prior to his leaving Arthur Young was proper? Why or why not? After joining Lincoln’s parent company, ACC, should Atchison have “interfaced” with the Arthur Young auditors assigned to the Lincoln and ACC engagements? Again, support your answer.
Answer to relevant QuestionsDoes the AICPA Code of Professional Conduct discuss the collegial responsibilities of CPA firms? In your opinion, were representatives of either Ernst & Young or Kenneth Leventhal & Company unprofessional in this regard ...Explain what is implied by the term low-balling in an audit context. How can this practice potentially affect the quality of independent audit services?Did the confidentiality agreement that Minkow required Ernst & Whinney to sign improperly limit the scope of the ZZZZ Best audit? Why or why not? Discuss general circumstances under which confidentiality concerns on the part ...David Brooks apparently made threatening remarks to certain of his company’s independent auditors. What actions should auditors take when they are the target of hostile statements or actions by client executives or ...Identify what you consider to be the three most important “take-aways” or learning points in this case. Rank these items in order of importance (highest to lowest). Justify or defend each of your choices.
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