Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Question - You are the training partner of a large audit firm. One of your responsibilities is to review each student's training file before the student submits the file to ICAEW as evidence of fulfilling their professional experience. Ali, one of your first-year students, reported detailed information about a fixed asset acquisition in the accounts of a named client. Ali had disagreed with the capitalisation of this asset because it appeared to be for personal use and told his audit manager. The audit manager became noticeably angry and accused Ali of being insufficiently experienced to make such a judgment. The audit manager also pointed out that this long-standing client happens to be a personal friend of the engagement partner and should not be questioned about the decision to capitalise the fixed asset. Ali felt that the response from the audit manager did not reflect the philosophy of ICAEW ethics training.
(i) Explain the fundamental ethical principles for professional accountants and evaluate where there is an apparent conflict in relation to the scenario above.
(ii) Identify and evaluate potential threats to your firm's independence and suggest how you would address them.
(iii) Identify two reviews into the audit industry that were undertaken in response to several high-profile corporate collapses in 2018, and briefly explain their recommendations for the audit profession.
Winningham Company maintains a petty cash fund for small expenditures. What internal control features exist in a petty cash fund
How would you structure a new company you are beginning to develop in pursuing a technical breakthrough in order to ?prevent fraud?
What are some of the accounting issues that the city faces when accounting for defined benefit plans as compared to a defined contribution plan?
In 2019, they received $12,000 in Social Security benefits and $35,000 in taxable pension benefits and interest. Compute the couple adjusted gross income
How can you use social media in your job search? What are the Pro's and Cons of using social media when doing job search? Remember to cite your sources
materials used by the company in producing division cs product are currently purchased from outside suppliers at a cost
denber co. acquired 60 of the common stock of kailey corp. on september 1 2010. for 2010 kailey reported revenues of
Hawk Company purchased 8,000, P1,000 face amount, 9% bonds to yield 10%. What amount should be recognized as gain on sale of bonds?
Illustrate business cycle with reference to a retail trader which does business on a cash basics
The company records adjusting entries only at year-end. What is the amount of interest revenue that appears in the company's 2013 income statement
there are currently no formal accounting standards for the reporting of social and environmental activities.students
What is the balance in investment in Garvin Co. after the sale of the 10,000 shares of common stock
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd