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Acc300 Group Assignment PDF

   

Added on  2021-04-17

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T117 ACC300 GROUP ASSIGNMENT1
Acc300 Group Assignment PDF_1
Table of ContentsT117 ACC300 GROUP ASSIGNMENT........................................................................................1Question 1....................................................................................................................................3Question 2....................................................................................................................................6References....................................................................................................................................82
Acc300 Group Assignment PDF_2
Question 1(a)In this scenario, the ethical requirements of the APES 110 are been violated because theprofessional ethics never permit the company to disclose any of the information that aregathered while auditing and security procedures regarding any client without hispermission (Trevino and Nelson 2016).The Mortdale accounting company has organized audit of different public companies andfrom there he has accumulated several working papers of different client. He then sharedthose information gathered during the assurance processes to his peer reviewer- Penshurstaccountants in order to carry out assurance activity of Mortdale. Even though theinformation was given for conducting the working processes of the company and forchecking whether all the processes that is necessary for executing audit is beingimplemented, still it should never be shared without taking permissions of the clients.Hence, Mortdale must have taken consent from its clients prior to providing the workingpapers to the peer reviewer.(b)Yes, the ethical requirements of APES 110 have been violated both by the CPA and theaccounting firm (Briggs 2013). Instead of depending on the words of candidate, theaccounting firm should gather information regarding its past engagements. With thesame, it is also vital to ensure that its interests are not in conflict with the organization’sobjectives. In this scenario before providing Jan Dungog job in the company, the local accountingfirm must have made research about him. It should have tried to find out the reasons thatmade him leave his past job. Through this, the firm would have identified his strength andweakness. (c)Yes, the ethical requirements of APES 110 have been breached by WendalSailor in thisscenario, as he is not permitted to request his clients for giving information about theirother engagements and services (Townsend 2014). It is the duty of a professionalaccountant to be independent of his opinions and objectives. He should never beinfluenced through any factors during conducting his assurance services and audit. This3
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