Assume that Billy calls his friend at Foot and Balance and she explains the delay is due to the recent merger of Vouch and Trace LLP with Foot and Balance. She tells Billy that the offer should be forthcoming. However, Billy gets nervous about the situation and decides to accept the offer of Tick and Check. A week later, he receives a phone call from the partner at Foot and Balance who had promised to contact him about the firm’s offer. Billy is offered a position at Foot and Balance at the same salary as Tick and Check. He has one week to decide whether to accept that offer. Billy is not sure what to do. On one hand, he knows it’s wrong to accept an offer and then renege on it. On the other hand, Billy hasn’t signed a contract with Tick and Check, and the offer with Foot and Balance is his clear preference because he has many friends at that firm.

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Suppose Billy Tushoes rejects the Tick and Check to take the Foot and Balance offer. Three months later at a local CPA chapter meeting, one of the partners at Tick and Check informs his counterpart, a partner at Foot and Balance, of his disappointment in Billy reneging on his promise at the last minute. Following the AICPA Code of Conduct, Foot and Balance might well do what?

A . Ignore the incident and be glad to have Billy at FB rather than at the competition.

B . Prepare a memo for Billy’s file recounting the situation.

C. Call Billy in and ask why he acted in such a manner.

D. Inform Billy he has 90 days to find a job somewhere else because the firm no longer trusts his integrity.

Answer rating: 100% (QA)

As per the aicpa code of conduct fb might use the memo for billings file recounting the situation if ... View the full answer