Professional Accountant

subject to the regulations of other authoritative bodies, such as the US Securities and Exchange Commission, may wish to consult with them for their positions on these matters. Interpretation 2003-01 The Provision of Non-Assurance Services to Assurance Clients The Code of Ethics for Professional Accountants addresses the issue of the provision of non assurance services to assurance clients in paragraphs 290.158−290.205 inclusive. The Code does not currently include any transitional provisions relating to the requirements set out in these paragraphs however the Ethics Committee 5 has concluded that it is appropriate to allow a transitional period of one year, during which existing contracts to provide non assurance services for assurance clients may be completed if additional safeguards are put in place to reduce any threat to independence to an insignificant level. This transitional period commences on December 31, 2004 (or from the date of implementation of the Code for members of those IFAC member bodies which have adopted an earlier implementation date). Interpretation 2003-02 Lead Engagement Partner Rotation for Audit Clients that are Listed Entities The Code of Ethics for Professional Accountants addresses the issue of engagement partner rotation for financial statement audit clients that are listed entities in paragraphs 290.154−290.157. The paragraphs state that in the financial statement audit of a listed entity the engagement partner should be rotated after serving…

Question 1 a. Management Accountants have an obligation to follow the highest standards of ethical responsibility and maintain good professional image. They also should not condone the commission of unethical acts by others within their organizations. It is obvious that falsifying travelling reimbursement claim by Mustapha was unethical conduct and I, as a professional that have been entrusted by the company’s shareholders to safeguard the company’s interests and well-being, should therefore…

problems because I liked to solve the math problems and play the number games, such as, Sudoku. In this class, I got a lot of accounting knowledge and understood more about how to make accounting statements. During this semester, I felt I had taken a big step forward in achieving my dream. However, in order to become an accountant, I had to learn other skills, instead of getting the knowledge of accounting. After the semester, I was still confused about what kind of skills I had to develop and…

requirements. As an accountant, one would be tasked with many office related duties and be required to use analytical skills. Accountants “perform…

different between AICPA Code of Professional Conduct and the CIMA Code, from the video? Both the AICPA Code of Professional Conduct and the CIMA Code share some principles: integrity, objectivity, and due care. These principles provide an overall framework for the professionals, expressing auditors’ responsibilities. But AICPA Code of Professional Conduct especially stresses the auditors’ responsibilities are to the public, clients, and others auditors. Another difference between the two code…

Model of Trust and the AICPA Professional Code of Conduct According to Xie and Peng (2009), ability, benevolence and integrity are the core elements that help to build interpersonal trust within organizations. These same core elements are also essential within the accounting profession and are the cornerstone of the American Institute of Certified Public Accountants’ (AICPA) Professional Code of Conduct (the Code). The Code is the primary source of guidance for accountants. The Code is…

Beyond the different software companies used for Big Data Analytics, there are other ways that Big Data affect the accountancy profession. A major effect on the field of accounting is the law that takes place while the processes are amended to adapt to the current technology age. Overseers such as: FASB and the SEC have certain laws and regulations that alter the way accountants perform the assigned tasks required by their profession. In addition to adding unprecedented rules, FASB and the SEC…

The Junior Accountant position at “Dolman Bateman & Co Pty Ltd” caught my attention as it is an exceptional opportunity to work in a professional practice. I would be very much inspired by working at Dolman Bateman & Co which provides a wide range of financial services to its customers since I would have the chance to meet lots of interesting people, develop increasing commercial awareness and progress in my career with the firm. I am confident that my qualifications and experience in accounting…

The reason for this is because if the university does not meet the requirements of the accounting bodies, then students upon graduation will not be eligible for the CA/CPA programs that will ultimately get them accredited. The technological context that I have grown in has been one of constant change and development. As with many other professions, technological advancements have changed the nature of work that accountants do, with many of the data input processes that needed to be performed…

responsibility accounting, performance measurement, direction, motivation and incentives. Thus, it can be seen that MAS is one of the components that comprising MCS. Any changes in the environment must be responded by change in MCS. After investigating and evaluating HD thoroughly, it can be determined that HD does not have an effective MCS and MAS. The main issues that occur in the current MCS and MAS will be illustrated as follows. In term of accountability structure, HD does not have any…