Question: Two of the officers-J. Michael Kelly, the former CFO of AOL, and Mark Wovsaniker, former head of accounting policy-consented to the charges of the SEC

Two of the officers-J. Michael Kelly, the former CFO of AOL, and Mark Wovsaniker, former head of accounting policy-consented to the charges of the SEC that they misled the external auditors about the fraudulent transactions. What were the ethical responsibilities of Kelly and Wovsaniker in this matter in general, and specifically with respect to their relationship with the external auditors? Did they violate those standards?

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As CPAs both Kelly and Wonsaniker had an ethical obligation to be honest with the external auditors ... View full answer

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