Ronnie San, a trainee ISCA Chartered Accountant, is working on the external audit of Persow Ltd (Persow).
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Question:
Ronnie San, a trainee ISCA Chartered Accountant, is working on the external audit of Persow Ltd (Persow). Ronnie previously worked on the external audit of Majin Ltd (Majin), a car fleet management company. Persow is searching for a new car fleet management supplier and Ronnie has proposed that his audit firm recommends Majin to Persow in return for a fee from Majin for the introduction.
Required:
Explain the ethical issues arising for the audit firm in respect of Ronnie's proposal.
Related Book For
Auditing a risk based approach to conducting a quality audit
ISBN: 978-1133939153
9th edition
Authors: Karla Johnstone, Audrey Gramling, Larry Rittenberg
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