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AUDITING 9 AUDITING Auditing

   

Added on  2020-02-24

12 Pages2858 Words342 Views
Running head: AUDITINGAuditingName of the Student:Name of the University:Author’s Note:
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1AUDITINGExecutive Summary:The most important considerations of the study is to address several types of ethical aswell as legal issues, that require to be considered at the audit division in the Miller YatesHowarth (MYH). This particular study will comprise the application of the “AmericanAccounting Association (AAA)” ethical decision model that clarifies the ethical issues related tothe case study provided. The major findings of the Oasis Ltd. Obtained under huge amount ofpressure from the client for the audit completion within the stipulated period of time has beenwithin one month from the date mentioned in the balance sheet. The several kinds ofrecommendation for the study have also been taken under thought regarding the utility of theparticular model. The next part of the report has put the necessary case law and equipped therecommendations for the MYH managing partners. This however needs to be based on the mainand primary decision of the court whether MYH should or should not be held for negligence.
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2AUDITINGTable of ContentsIntroduction:....................................................................................................................................3Answer to question 1:......................................................................................................................3AAA Model:................................................................................................................................3Determination of Factual Matters:...............................................................................................3Ethical issue identification:..........................................................................................................4Important principles, values and rules identification:..................................................................4The possible alternatives and their specification:........................................................................5Comparison of the values as also the alternatives:......................................................................5Identification of the alternative access of the consequences:......................................................6Recommended decision:..............................................................................................................6Answer 2:.........................................................................................................................................6Report for the managing partners of the MYH:...........................................................................6Conclusion:......................................................................................................................................9References......................................................................................................................................10
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3AUDITINGIntroduction:The “ American Accounting Association (AAA)” founded in the year 1916 is found ashaving a reputable and most significant history for having a place as a premier community ofaccountants in academia. The variety of membership has been capable of creating a culturewhere there is collaboration as well as innovation.The report is aimed at addressing the different types of legal as well as ethical reasonsthat need to be taken under consideration at the audit division at the Miller Yates Howarth(MYH). The different types of recommendations for the study have also been thought about forthe use of the model (Abernathy et al., 2015). The particular study needs to have the applicationof the AAA ethical decision model shows the ethical issues which are connected to the relatedcase study. The next part of the report has used the relevant case laws as also prepared certainrecommendations for MYH managing partners.Answer to question 1:AAA Model:Determination of Factual Matters:The case provided related to the MYH accounting firm, operates primarily in Queenslandand NSW. The organ Fertilisers Pty, is considered to be one of the most primitive clients of theorganisation which has its operations located across the places namely Toowoomba as well asTamworth. The contractor for waste management to the Dumparound Ltd. had been recentlychanged by Morgan Fertilizers, It was one of the senior audits, Jacqui who had wisdomregarding the community activities and also knew for certain that the local council was carrying
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