Was the "expectations gap" which triggered the Treadway and Macdonald Commissions, the fault of the users of financial statements, or the management who prepared them, or the auditors, or the standard setters who decided what the disclosure standards should be?
Answer to relevant QuestionsWhat should an auditor do if he/she believes that the ethical culture of a client is unsatisfactory?Why don't codes of conduct or existing jurisprudence provide sufficient guidance for accountants in ethical matters?Which type of conflict of interest should be of greater concern to a professional accountant: actual or apparent?What is your responsibility in each of these situations?Assume that you are a professional accountant who is CFO of a medium-sized manufacturing company that plans to:• Misrepresent products that come from environmentally ...1. Do you think that Apple’s new accounting policy, that is consistent with the 2009 FASB statement, results in fair financial reporting?2. Do you think that Apple’s share price should have gone up as a result of ...
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