Section 7. Analysis of Some Rules of Professional Conduct. Introduction. Objectivity Advertising and Tendering Competence Responsibility to the Public and Clients Responsibilities to Colleagues Independence and the CBCA The CA as a Tax Adviser.
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Analysis of Some Rules of Professional Conduct
Auditing Standards and Accounting Principles(206)
Marie Janes encounters the following situations in doing the audit of a large auto dealership. Janes is not a partner.
The following are situations that may violate the general rules of conduct of professional accountants discussed in the chapter. Assume in each case that the public accountant is a partner.
Olaf Gustafson, public accountant, sets up small loan company specializing in loans to business executives and small companies. Gustafson does not spend much time in the business because he works full time with his public accounting practice. No employees of Gustafson’s public accounting firm are involved in the small loan company.
my three business partners – my banker, the government, and my public accountant, but Finny’s the only one that is on my side.”
Discuss whether the facts in any of the situations indicate violations of the rules of conduct for professional accountants. If so, identify the nature of the violation(s).