Hello there! Want a discount? Grab 5% OFFon your first order!
originalresearchpapers.com logo
Hello there! Want a discount? Grab 5% OFF on your first order!
originalresearchpapers.com logo

Instructions in file attached ACG 4651 1 Case #1: The importance of being independent (by Deloitte)

Instructions in file attached

ACG 4651

1


Case #1: The importance of being independent (by Deloitte) Discussion Questions

Background:

The Deloitte Foundation, in conjunction with the University of Illinois Center for Professional Responsibility in Business and Society, has created Auditor Independence Education Materials to help students to learn about core concepts, real-world applications, and prevailing rules related to auditor independence.

Required:

Please watch the FULL video (3 sections) titled “the Importance of Being Independent” which focuses on the public interest, professional skepticism, financial statements users, and independence in fact and appearance.

· “Section 1 – Independence 101” (approx. 12 minutes)

· “Section II – The Public Accounting Profession” (approx. 5 minutes)

· “Section III – Independence at Work” (approx. 10 minutes)

The video can be found at
After watching the video, please respond to the following questions.

1) Your uncle is employed as the controller of Company J, an audit client of your firm. You are asked to serve on the Company J audit team. You are pretty sure that the independence rules do not prohibit you from serving on the audit team because technically your uncle is not a “close relative.” You have a close relationship with your uncle and see him on a regular basis. Should you disclose this relationship to your firm? Why?

2) What do other professions, such as law or medicine, have in common with the accounting profession?

3) All professionals in public accounting firms, whether they provide audit, tax, or consulting services, should comply with the accounting firm’s independence policies and applicable independence rules. Why do you think this is?

4) Do you consider any of the “five areas of independence,” described in the Video, a greater threat to independence than any of the other areas? Why?

Formatting:

As indicated in the syllabus, your response should not exceed 2 single spaced pages. Please review your syllabus for all other formatting and submission guidelines. The due date for this project is also indicated on your syllabus.

Share This Post

Email
WhatsApp
Facebook
Twitter
LinkedIn
Pinterest
Reddit

Order a Similar Paper and get 15% Discount on your First Order

Related Questions

The Scenario:     The Assignment This week’s

The Scenario:     The Assignment This week’s focus has been on organizational change. Using your selected company from week 3,  create a narrated PowerPoint presentation that provides leaders with tools and techniques to develop  sustainability during a digital transformation. Refer to the three (3) concepts mentioned in the video,  Efficient Leadership

Today’s world of business is significantly impacted by technological advances. This blurring of boundaries between the physical, digital, and biological

Today’s world of business is significantly impacted by technological advances. This blurring of boundaries between the physical, digital, and biological world is referred to as the Fourth Industrial Revolution (IR). Advances in artificial intelligence (AI), robotics, the internet of things (IoT), 3D printing, genetic engineering, quantum computing, and other technologies

Chapter 6: Integrated Business Strategy Chapter 6: Integrated Business Strategy Introduction In today’s highly competitive and dynamic business

Chapter 6: Integrated Business Strategy Chapter 6: Integrated Business Strategy Introduction In today’s highly competitive and dynamic business environment, organizations need to develop comprehensive strategies that integrate insights from multiple areas of analysis. An integrated business strategy is essential for aligning a company’s activities with its overarching goals, ensuring that

Assignment – Deadline within 9 days Literal Grading Scale Literal grade Grade Point Evaluative descriptor A+ 4.5 Excellent

Assignment – Deadline within 9 days Literal Grading Scale Literal grade Grade Point Evaluative descriptor A+ 4.5 Excellent overall. Demonstrates an excellent grasp of the subject matter. Excellent capacity for original and creative enquiry. Excellent ability to critically evaluate, analyse, synthesise and integrate complex information. Excellent communication skills. Exceptional in

  his week’s nonverbal communication discussions review body language. From a cultural lens, consider how body language during a video conference could

  his week’s nonverbal communication discussions review body language. From a cultural lens, consider how body language during a video conference could be misinterpreted or unintended behavior could be considered distracting. In a 1- to 2-minute video response, Explain the value of nonverbal communication in a virtual setting. Explain how nonverbal cues and atmospherics (room environment) can impact effective

  When working interculturally, gestures and body language may get misinterpreted. When multiple cultures interact, it is important to recognize that

  When working interculturally, gestures and body language may get misinterpreted. When multiple cultures interact, it is important to recognize that gestures or types of nonverbal communication may have different meanings in the various cultures. Therefore, participants who engage in a communication process must be aware that difficulties may arise when gestures are

You deserve a bonus!

Subscribe and get regular bonuses and discounts.