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https://helpingtutors.com/ Ethics in Accounting (ACCTG 630) FINAL Cotter firm with offices throughout California It firm pot is a highly prestigious accounting 1 hospital 3 biotech and & Greene) and ospital, All audit and tax work for the aerospace, biotech, all and clients is by & San office. Its San Jose office handles not employ tax work for the law firm, Abbott & Greene. Although Cotter & Philpot does in the firm many professional Cotter is a partner in the San Jose office; Philpot is a partner team, Sam San Francisco office Tom is an accountant on the Abbott & Greene attest engagement provides on attest engagement team: Paul is a manager who who 11 hours of tax services to the biotech company; Mary is an accountant in the San Jose office 12 provides clerical and other support services to Nancy a staff accountant who provides hours services to Abbott & Greene: and Rita is a accountant on an aerospace client’s attest engagement team but is married to the law firm’s managing partner a. who at Cotter & Philpot would be considered a covered member with respect to Abbott & Greene? Why or why not? is b. Assume here that Abbott & Greene is not only a client of Cotter & Philpot, but also helped represent Cotter in his divorce last year. Cotter was not very pleased with the outcome and has refused to pay Abbott & Greene’s last invoice of Discuss what ethical exist, if any. c. Assume now that, to get back in Cotter’s “good graces after his displeasure over the divorce issue, Abbott & Greene decided to focus its attention on Philpot Abbott Greene offers him tickets to its box seats during the Super Bowl, sends Philpot a wine and cheese gift basket around the holiday season, offers to help Philpot resolve a small parking ticket violation free of charge, and to use the firm’s private jet for a trip to Tahoe next year. Philpot declines only the private jet and parking ticket offers, but to show his appreciation for the law firm’s business and box seats, Philpot offers the firm 50% of its next bill with Cotter & Philpot. Discuss and explain if there are any ethical issues present on these facts d. Late one night, as Philpot was working on an Abbott & Greene cash flow statement along with one of the law firm’s partners. The law firm’s partner stated in passing how Abbott & Greene a recently funneled money to “persuade” a Mexican government official on behalf of its client, a U.S. utility company (GasX, Inc.). Philpot is taken aback and feels like he should tell someone about these revelations. Discuss and analyze all ethical issues present here, especially what Philpot can or cannot do with this information e. An unrelated party, PemCo, later sues Abbott & Greene. PemCo has obtained a summons from the court for Abbott & Greene’s cash flow statement and demanded Philpot testify about its creation. Discuss and analyze Cotter & Philpot’s ethical and legal issues. How would your answer change if instead of PemCo suing Abbott & Greene, it was the IRS who was demanding a copy of the cash flow statement? Page 4 of 5