In this chapter we discuss problems encountered by the PCAOB in gaining access to inspect work papers of audits by U.S. international accounting firms of Chinese companies. Explain why these problems exist including cultural, legal, and ethical considerations.
Answer to relevant QuestionsIn this chapter we discuss the Joe Paterno matter at Penn State. Another situation where a respected individual’s reputation was tarnished by personal decisions having nothing to do with performance on the job is the ...What are the costs and benefits of establishing one set of accounting standards (i.e., IFRS) around the world? How do cultural factors, legal systems, and ethics influence your answer? Apply a utilitarian approach in making ...Describe the different kinds of reserves that can be recorded. How do the reserves relate to the discretionary accruals discussed in Chapter 7? Can the accounting for reserves lead to a manipulation of earnings? Do you ...What is the purpose of having a Global Code of Ethics? Do you think a Global Code is necessary given that codes of ethics already exist for public companies in virtually all countries?1. In the case, Judge Kaplan dismissed Parmalat’s lawsuit against Deloitte stating that Parmalat “did not show that poor auditing of Parmalat USA was equivalent to fraud.” Comment on the judge’s decision from the ...
Post your question