A Aa- i- 1Normal 1 No Spac... Heading 1 Paragraph Style Principles of the AICPA Code of Professional Conduct Responsibilities: In carrying out their responsibilities as professionals, members should exercise sensitive professional and moral judgments in all their activities The Public Interest: Members should act in a way that will serve the public inter Il. st, honor the public trust, and demonstrate commitment to professionalism Integrity: To maintain and broaden public confidence, members should perform all professional responsibilities with the highest sense of integrity. IV. Objectivity and Independence: A member should be objective and free from conflicts of interest in discharging professional responsibilities. A member in public practice should be independent in fact and appearance when providing auditing nd other attestation services Due Care: A member should observe the profession's technical and ethical stand- ards, strive continually to improve competence and the quality of services, and dis- charge professional responsibility to the best of the member's ability V. VI. Scope and Nature of Services: A member in public practice should observe the Principles of the CPC in determining the scope and nature of services to be provided. Ethical Dilemma Suppose you are the accountant of Western Bank & Trust. At the end of 2017, your company purchased land and a building for the lump sum of $3,000,000. To get the maximum, tax deduction, your boss asks you to allocate 90% of the purchase price to the building and only 10% to the land. A more realistic allocation would have been 70% to the building and 30% to the land Requirements Please prepare a short memo (one page, double-spaced) to state your opinion. Please include the following in your memo 1. Explain the tax advantage of allocating too much to the building and too little to the land. 2. Is your boss's request ethical? If so, state why. If not, why not? Identify who would be harmed Submission deadline: April 19. Thursdav