Question: John Smith is an external audit manager. During the audit of Wilson Paper Company, he learned that Wilson was planning to buy out their rival,

John Smith is an external audit manager. During the audit of Wilson Paper Company, he learned that Wilson was planning to buy out their rival, Picton Stationary. John told his wife about the future buyout and she acquired shares in Picton which she later sold to Wilson at a profit. Has John violated his duty as a professional? How? (2 marks)

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