each of the following situations involves a possible violation o
each of the following situations involves a possible violation of the aicpa’s code of professional conduct. indicate whether each situation violates the code. if it violates the code, indicate which rule is violated and explain why.a. julia roberto, a sole practitioner, has provided extensive advisory services for her audit client, leather ltd. she has interpreted ﬁnancial statements, provided forecasts and other analyses, counseled on potential expansion plans, and counseled on banking relationships. leather is a privately held entity.b. steve rackwill, cpa, has been asked by his audit client, petry plumbing supply, to help implement a new control system. rackwill will arrange interviews for petry’s hiring of new personnel and instruct and oversee the training of current client personnel. petry plumbing is a privately held company.c. bob lanzottiis the partner-in-charge of the audit of fleet mobile homes, inc. over the years, he has become a golﬁng buddy of fleet’s ceo, jim harris. during the current year lanzottiand harris jointly purchased an exclusive vacation home in north carolina. the vacation home represents more than 10 percent of lanzotti’s personal wealth.d. kraemeer & kraemeer recently won the audit of garvin clothiers, a large manufacturer of women’s clothing. jock kraemeer had a substantial investment in garvin prior to bidding on the engagement. in anticipation of winning the engagement, kraemeer placed his shares of garvin stock in a blind trust.e. zeker & associates audits a condominium association in which the parents of a member of the ﬁrm own a unit. the unit is material to the parents’ net worth, and the member participates in the engagement. f. jimmy saad, a sole practitioner, audited dallas conduit, inc.’s, ﬁnancial statements for the year ended june 30, 2007, and was issued stock by the client as payment of the audit fee. saad disposed of the stock before commencing ﬁeldwork planning for the audit of the june 30, 2008, ﬁnancial statements.g. dip-it paint corporation requires an audit for the current year. however, dip-it has not paid allen & allen the fees due for taxrelated services performed two years ago. dip-it issued allen & allen a note for the unpaid fees, and allen & allen proceeded with the audit services.
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