AICPA Code of Professional Conduct Violations / IBM and Google

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AICPA Code of Professional Conduct Violations / IBM and Google

Category: Research Paper

Subcategory: Accounting

Level: University

Pages: 1

Words: 550

Questions
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Institutional Affiliation
Questions
Violation of the AICPA Code of Professional Conduct leading to a disciplinary action
One of the violations of the AICPA Code of Professional Conduct that led to disciplinary action by the American Institute of Certified Public Accountants involved the case of Ray E. Plummer. Acting in his position as an accountant, Plummer violated the ethical rules of the organization by carrying out audits of a real estate which was owned by a trustee of which he was a co-trustee (Thomson Reuters, 2018). In his failure to comply with the rules of AICPA, Plummer led to the circumstances of conflict of interest whereby he was likely not to give the true and fair value of the organization owing to his interest in it. There was a possibility that Plummer would be biased in favor of the organization. It would lead to lack of objectivity and independence while carrying out the accounting procedures.
Safeguards to reduce the risks of the identified risks
One of the most effective ways to reduce the risks identified in the case would be to ensure that an accountant who does not have any interests in the organization is identified. It is arguably the surest ways to ensure that the risk of lack of objectivity is addressed. The second method would be to ensure that the identified accountant has the minimum qualification to produce quality work. With these two strategies, it will be possible for the organization to either reduce or complete…

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