Analyze each of the following situations involving a possible violation of the AICPA Code of Professional Conduct For each situation, document in short essay format 1) The applicable section of the rules of conduct (1 point) 2) Whether it is a violation (1 point) Mitchell is a CPA, but not a partner, with four years of professional experience with Jazz, CPAs He owns 24 shares of stock in an audit client of the firm, but he does not take part in the audit of the client, and the amount of stock is not material in relation to his total net worth James is an audit partner at a CPA firm in Los Angeles, California Irving used to work with James, but has since left the CPA firm and opened a consulting firm Irvings firm assists clients with financial statement preparation and internal controls testing James doesnt have many friends, but still maintains his friendship with Irving and will regularly refer his audit and review clients to him if his clients need accounting consultation services In return, Irving gives James a small commission and NBA courtside tickets every year, which James loves because he would otherwise never be able to attend Curry, CPA, stayed longer than he should have at the annual holiday party of GSW, CPAs On his way home, he drove through a red light and was stopped by a police officer, who observed that he was intoxicated In a jury trial, Curry was found guilty of driving under the influence Because this was his third offense, he was sentenced to 90 days in jail and his drivers license was revoked for 6 months Gobert is an audit partner at a CPA firm which is currently engaged to audit Zions Bank His wife has an automobile loan with Zions Bank that she obtained through normal lending procedures The loan is carried at a 1 9 interest rate, which is the rate the bank offers to all members with good credit The loan is collateralized by the car Joki is a senior auditor on the Nuggets engagement He is invited to and attends the Nuggets annual holiday party When gifts are distributed at the end of the party, Joki is surprised to find his name included The present has a value of approximately $50

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Analyze each of the following situations involving a possible violation of the AICPA Code of Professional Conduct. For each situation, document in short essay format:

Analyze each of the following situations involving a possible violation of the AICPA Code of Professional Conduct. For each situation, document in short essay format:

1) The applicable section of the rules of conduct (1 point)

2) Whether it is a violation (1 point)

Mitchell is a CPA, but not a partner, with four years of professional experience with Jazz, CPA’s. He owns 24 shares of stock in an audit client of the firm, but he does not take part in the audit of the client, and the amount of stock is not material in relation to his total net worth.

James is an audit partner at a CPA firm in Los Angeles, California. Irving used to work with James, but has since left the CPA firm and opened a consulting firm. Irving’s firm assists clients with financial statement preparation and internal controls testing. James doesn’t have many friends, but still maintains his friendship with Irving and will regularly refer his audit and review clients to him if his clients need accounting consultation services. In return, Irving gives James a small commission and NBA courtside tickets every year, which James loves because he would otherwise never be able to attend.

Curry, CPA, stayed longer than he should have at the annual holiday party of GSW, CPAs. On his way home, he drove through a red light and was stopped by a police officer, who observed that he was intoxicated. In a jury trial, Curry was found guilty of driving under the influence. Because this was his third offense, he was sentenced to 90 days in jail and his driver’s license was revoked for 6 months.

Gobert is an audit partner at a CPA firm which is currently engaged to audit Zions Bank. His wife has an automobile loan with Zions Bank that she obtained through normal lending procedures. The loan is carried at a 1.9% interest rate, which is the rate the bank offers to all members with good credit. The loan is collateralized by the car.

Jokić is a senior auditor on the Nuggets engagement. He is invited to and attends the Nugget’s annual holiday party. When gifts are distributed at the end of the party, Jokić is surprised to find his name included. The present has a value of approximately $50.