Reference no: EM131295394
Explain how CPAs should evaluate risks to integrity and objectivity when considering providing gifts to audit clients and/or client management or accepting risks from them.
Gifts made or received, in particular, may cloud audit judgment and impair independence. They can compromise objectivity and integrity because of the size and/or importance of the gift and the purpose of giving it or receiving it from the client. To avoid a conflict of interest that may impair integrity, objectivity and independence, the following guidelines should be followed.
If the audit is completed, the first question is whether the acceptance of the gift might make it appear to a reasonable observer that the gift is intended to influence the audit opinion. If so, that would create an undue influence threat and compromise integrity and objectivity. Also, it could be perceived as an advance payoff for future audit opinions. The influence does not have to be immediate. Beyond that, an important issue to consider is: Would acceptance violate any laws, regulations, or firm policies. If so, acceptance would create a threat that cannot be reduced or eliminated through any safeguards. If not, consider the following:
· What is the nature, value, and intent of the gift?
· Is it more than clearly inconsequential?
· Is it reasonable in the circumstances?
· Is it standard practice to accept or reject such gifts?
· Does the client expect a "quid pro quo?"
|
Paper on emerging telecommunications technology
: Write a research paper on an emerging telecommunications technology. Each team will also present their paper to the entire class at the end of the semester.
|
|
Could you achieve the same output by selecting a different r
: Suppose the only inductor you had available has a value of 500 mH. Could you achieve the same output by selecting a different R? How would the voltage change?
|
|
Analyze predictive sdlc versus adaptive sdlc
: Analyze predictive SDLC versus adaptive SDLC. Ascertain at least two (2) advantages and two (2) disadvantages of each approach. Provide a rationale for your response.Determine whether you would rather be part of a project that used predictive SDLC ..
|
|
What type transistor connection is shown in given figure
: What type transistor connection is shown in Figure 3 below? What is the device that increases a transistor's power rating by reducing the internal heat faster?
|
|
What is the nature-value and intent of the gift
: Explain how CPAs should evaluate risks to integrity and objectivity when considering providing gifts to audit clients and/or client management or accepting risks from them. What is the nature, value, and intent of the gift? Is it more than clearly in..
|
|
Prepaer a enterprise resource planning system for a company
: You are preparing to meet with your end users to discuss possible strategies for converting their old ERP system to a new one. Propose two (2) or three (3) alternative strategies, and explore related examples of situations for which each approach ..
|
|
National strategy influences of these non-state actors
: MNCs, IOs, NGOs, and the European Union are non-state actors in the role of pushing foreign policy to combat terrorism. Discuss one or two ways in which the national strategy influences any of these non-state actors.
|
|
Shares of common stock outstanding for that year
: During the year ended December 31, 2017, Gluco, Inc., split its stock on a 3-for-1 basis. In its annual report for 2016, the firm reported net income of $925,980 for 2016, with an average 268,400 shares of common stock outstanding for that year. Ther..
|
|
Identify the forced and natural components in the output
: The circuit in Figure is in the zero state when the input vS (t) = 150u (t) is applied. If C = 0.022 μF and R = 82 kΩ, find vO(t) for t ≥ 0.- Identify the forced and natural components in the output.
|