Respond the following questions:

1. Discuss Betty’s ethical dilemma using the six-step approach.

2. The AICPA Code of Professional Conduct and the IESBA Code of Ethics for Professional Conduct both define independence as consisting of independence of mind and independence in appearance. Discuss either concept in relation to the case facts.

3. Discuss Betty’s level of professional skepticism using the six characteristics of skepticism.

4. If you were Betty or on Betty’s audit team, what questions would you have asked Toby about the large amount in the miscellaneous expense account? Do you think Betty should have investigated further? Why or why not? 5. What lessons did you learn from Betty’s experience? I will send full article later.

5. The lesson? When a client is lying, it can make the auditing process extremely difficult.

Answer rating: 100% (QA)

1 An ethical dilemma invokes a mental conflict between moral essentials in which a decision to obey one transgresses another The sixstep approach first requires obtaining of the relevant facts from th... View the full answer