code of ethics for auditor, Auditing

Assignment Help:
B. The following situations involve a possible violation of the MIA ByLaws (on professional ethics, conduct and practice). For each situation, (1) decide whether or not the Code has been violated, and (2) briefly explain how the situation violates (or does not violate) the Code.


a) Fitri, a sole proprietor in pulic practice, plans to establish a separate department that will provide internal audit service to his audit clients.


b) Eco Pharmaceutical has traditionally been presenting the member of the audit team with New Year discount vouchers that can be used at any of its outlets in Malaysia. This year, because of the good company performance, each member is given a discount vouchers worth RM200.


c) Shukri Jamaluddin, CA, was traveling from Haadyai, Thailand to Sungai Petani, Kedah when he was pulled over by a custom officer at Bukit Kayu Hitam on suspicion of smuggling. He was convicted in court and was sentenced to 5 years in prison.


d) Kelley Brent, CA, is a partner in a one-office CA firm that audits Dane, Inc., a closely held corporation. Kelley''s sister was recently appointed as the chief financial officer for Dane, Inc.


e) On August 20, 20x6, Hank Anderson, CA and partner, was offered and accepted the engagement to audit the annual financial statements of Jernigan Corporation for the year ended December 31, 20x6. Preliminary work began on the audit on September 15, 20x6 and the engagement ended on March 7, 20x7. Jernigan is regulated by the SEC. Hank served as controller of Jernigan Corporation from December 1, 20x2, until April 10, 20x6, at which time he terminated his employment with Jernigan.



Related Discussions:- code of ethics for auditor

Advocates - specialized audit situation, Advocates - Specialized audit Situ...

Advocates - Specialized audit Situation The statutory provisions regulating the handling of client's monies are covered in the advocate's act. Reason of the rules:

Prepayments - audit process, Prepayments - Audit Process Prepayments s...

Prepayments - Audit Process Prepayments similar to accruals are not mostly checked through the double entry system. This creates them susceptible to mistake. The auditor's pro

Reporting to the members-fraud suspection, Reporting to the members Exc...

Reporting to the members Except the faults and irregularities outcome in the accounts not giving an accurate and fair view, or do not conform to statute, or appropriate books h

Auditing, The auditors for Weston University are conducting their audit for...

The auditors for Weston University are conducting their audit for the fiscal year ended December 31, 2011. Specifically, the audit firm is now focusing on the audit of revenue from

Joint auditing, what is the role of a joint auditor

what is the role of a joint auditor

Group auditing and holding campnies, what a group auditing and holding camp...

what a group auditing and holding campanies in details with exmple propurly

Reserves - audit process, Reserves - Audit Process Movements in reserv...

Reserves - Audit Process Movements in reserves need disclosure in the balance sheet, the loss and profit account, the director's reports or in the notices to the accounts. The

ACL Case 3, Sales are shipped FOB shipping point with credit terms n/45. Yo...

Sales are shipped FOB shipping point with credit terms n/45. You have verified that the last shipping number used in 2009 was 261,336 and that numbers were used in numerical order.

Internal control systems, Internal Control Systems ISA 400: “Internal c...

Internal Control Systems ISA 400: “Internal control system” means all the policies and processes (i.e., internal controls) accepted by the management of an entity to assist in

Analytical work, Auditor performs analytical work only at the end of the au...

Auditor performs analytical work only at the end of the audit. Ans: I disagree with the statement because: i) Analytical work/procedures are used to obtain an understanding o

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd