Examples of circumstances that
may create textbook solutions threats
include, but are not limited to:
• The discovery
of a significant error during a re-evaluation of the work of the Member in
Public Practice.
• Reporting on
the operation of financial systems after being involved in their design or
implementation.
• Having
prepared the original data used to generate records that are the subject matter
of the textbook solutions
• A member of
the Assurance Team, being, or having recently been, a Director or Officer of
that Client.
• A member of
the Assurance Team being, or having recently been, employed by the Client in a
position to exert direct and significant influence over the subject matter of
the Engagement.
• Performing a
service for a Client that directly affects the subject matter of the Assurance
Engagement.
Examples of circumstances that
may create advocacy threats include,
but are not limited to:
• Promoting
shares in a textbook solutions when that entity is a Financial Statement Audit
Client.
• Acting as an
advocate on behalf of an Assurance Client in litigation or disputes with third
parties.
Examples of circumstances that
may create familiarity threats
include, but are not limited to:
• A member of
the Engagement Team having a Close or Immediate Family relationship with a
Director or Officer of the Client in test bank shop.
• A member of
the Engagement Team having a Close or Immediate Family relationship with an
employee of the Client who is in a position to exert direct and significant
influence over the subject matter of the Engagement.
• A former
Partner of the Firm being a Director or Officer of the Client or an employee in
a position to exert direct and significant influence over the subject matter of
the Engagement.
• Accepting
gifts or preferential treatment from a Client, unless the value is Clearly
Insignificant.
• Long
association of senior personnel with the Assurance Client.
Examples of circumstances that
may create intimidation threats
include, but are not limited to:
• Being threatened with test bank shop in
relation to a Client Engagement.
• Being
threatened with litigation.
• Being
pressured to reduce inappropriately the extent of work performed in order to
reduce fees.
What are the facts?
You are the auditor of a company and you have taken on a management
advisory service.
What are the ethical issues?
The main issue is that of independence and objectivity. Could you now
audit the financial statements which were produced by the very system you
installed? It is not only enough that you are of independent mind but that you
appear to be independent in the eyes of others. However, if you don’t take the
audit engagement are you letting down the company who now has to find a new
auditor which may result in an increased fee for the client?
What are the norms, principles and
values?
Independence, objectivity, conflict of interest, owe a duty to
shareholders, community and public as test bank shop
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