This problem focuses on the following question: Is it ethical for a CPA (or CPA firm) to provide similar services to companies that compete directly with one another? These services may include assistance in the preparation of financial statements, income tax services, consulting engagements, and audit work.

Instructions

Before doing any research, discuss this question as a group. Identify potential arguments on each side of the issue.

Arrange an interview with a practicing (or retired) public accountant. Learn the accounting profession’s position on this issue, and discuss the various arguments developed in part a.

Develop your group’s position on this issue and be prepared to explain it in class. Explain why you have chosen to overlook the conflicting arguments developed in part a. (If your group is not in agreement, dissenting members may draft a dissenting opinion.).